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1. Joe borrows $5,000 from his father in law and promises to pay him back in 5 years with a 2,5% per year interest. What
1. Joe borrows $5,000 from his father in law and promises to pay him back in 5 years with a 2,5% per year interest. What would be the annual payment? 2. An investor has funds deposited at 4.75% interest per year. How long it will be before she can double her money. 3. The person in question 2 cannot wait as long as you calculated. She want to double her money in 10 years. How much inetrets per year should she earn? 4. Baby's Joe's grandparents decided to start depositing $2500/yer in his 4" birthday and plan to continue doing so unitl his 18" birthday. How much money will be in the account on his 18" birthday, assuming it makes 3% per year interest
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