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What is the interest rate that would make $10,000 received in the first year equivalent to $3,500 received each year for 4 years?
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- If you deposit $2,042 today in a savings account that pays 8% interest annually, how much would you have at the end of 5 years?How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?If you borrow $12,000 at 20% interest rate for 5 years, what is your ordinary simple interest in this case?
- Interest rate... How much do you need to deposit in an account today in order to have $11,000 in the account in 6 years? Assume the account earns 9% interest compounded monthly.3. What would $1000 become in a saving account at 3% per year for 3 years when the interest is not compounded (simple interest)? What would the same amount become after 3 years with the same rate but compounded annually?Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.
- If you deposit 500 pesos at the end of each year for 3 years into an annuity that pays 5% annual simple interest, what is the value at the end of 3 years?What equal amount (Q) must be deposited at the beginning of each year for the next 5 year s in a saving account with 10% interest in order to get a future sum of $1000 at the end of year 6. Please provide me a cash flow diagram and calculate.You want to buy an apartment at the price of 4 million Hong Kong dollars. You will do this with a mortgage from a bank at the annual interest rate 8% for 30 years. What is your annual payment? Draw a cash flow diagram.
- . How long it take money to quadruple if it earns 3% compounded daily 16636 days 16637 days 16867 days 16868 days9. While Jack was a student at the University of Georgia she borrowed $12,000in student loans at an annual interest rate of 9%. If Jack repays $1,500 per year then how long (to the nearest year) will it take him to repay the loan?You borrowed an amount of $15,000 and paid it $20,223 in 3 years. If the interest rate was compounded monthly, what is the nominal interest rate?