Suppose that you saved $4,700 at the beginning of the year and that at the end of the year your savings account has $6,100 in it. What interest rate did you earn?
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Suppose that you saved $4,700 at the beginning of the year and that at the end of the year your savings account has $6,100 in it. What interest rate did you earn?
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- Steve promises to pay Amanda $2,000 in four years and another $3,000 four years later for a loan of $2,000 from Sandy today. What is the interest rate that Sandy is getting? Assume interest is compounded monthly.Sam promises to pay Sandy $2,000 in four years and another $3,000 four years later for a loan of $2,000 from Sandy today. What is the interest rate that Sandy is getting? Assume interest is compounded monthly.You decide to purchase a house and need a $160, 000 mortgage. You take out a loan from the bank that has an annual interest rate of 6%. What is the monthly payment to the bank to pay off the loan in 20 years? ( i need final answer only no need of all calculation)
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