Question
1, Leon Taylor is settling a $19,080 loan due today by making 6 equal annual payments of $4,640.74. Click here to view factor tables Determine
1, Leon Taylor is settling a $19,080 loan due today by making 6 equal annual payments of $4,640.74. Click here to view factor tables Determine the interest rate on this loan, if the payments begin one year after the loan is signed. (Round answer to 0 decimal places, e.g. 8%.) 2, Sally Alvarez is investing $395,500 in a fund that earns 9% interest compounded annually. Click here to view factor tables What equal amounts can Sally withdraw at the end of each of the next 14 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
3, Stacy Medavoy will invest $6,420 a year for 24 years in a fund that will earn 5% annual interest. Click here to view factor tables If the first payment into the fund occurs today, what amount will be in the fund in 24 years? If the first payment occurs at year-end, what amount will be in the fund in 24 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
4, Alan Newman will invest $10,610 today in a fund that earns 8% annual interest. Click here to view factor tables How many years will it take for the fund to grow to $24,739?
5, Julia Willis will invest $32,300 today. She needs $390,840 in 22 years. Click here to view factor tables What annual interest rate must she earn? (Round answer to 0 decimal places, e.g. 7%.)
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