How much interest would you earn if you deposited $300 at 6 percent fo
QUESTION
How much interest would you earn if you deposited $300 at 6 percent for 27 months?
How much interest would you pay to borrow $670 for eight months at 12 percent?
What is the future value of $800 at 8 percent after six years?
How much would you have in savings if you kept $200 on deposit for eight years at 8 percentcompounded semiannually?
What is the future value of an annual deposit of $230 earning 6 percent for 15 years?
1. Interest = 300*.06*27/12 = 40.50 2. Interest = 670*.06*8/12 = 29.80 3. FV (Future value) = 800*1.08^6 = 1269.50 4. FV (Future¦
) = 200*(1 .08/2)^(8*2) = 374.60 5. FV (Future value) = 230*((1 0.06)^15-1)/0.06 = 5353.47
ANSWER:
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