Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) Luisa Prez borrowed $3,435.00 from a brother-in-law at 3% simple interest for 2 years. What total amount of interest must Luisa pay? What

image text in transcribed

1) Luisa Prez borrowed $3,435.00 from a brother-in-law at 3% simple interest for 2 years. What total amount of interest must Luisa pay? What total amount must Juan pay? 2) What is the future value of $8,712 at 7% in 6 years? 3) Luis Ros has invested $12,500 at 8% per year. How many years (approx) do you have to wait to double his investment? 4) Pedro Rivas wants to invest $55,000 and double his investment in 7 years. What interest should he get?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

14th edition

1285867971, 978-1305480742, 1305480740, 978-0357686393, 978-1285867977

More Books

Students also viewed these Finance questions