Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. They offer you an investment. You deposited $ 3,000 five years ago, now $ 1,000, after 2 years you will deposit $ 3,000 and

1. They offer you an investment. You deposited $ 3,000 five years ago, now $ 1,000, after 2 years you will deposit $ 3,000 and finally you will deposit $ 4,500 in 10 years. All with respect to this moment, how much money will you receive in 20 years if the interest rate they offer you is 7% semi-annually?

2. What interest rate do you get if you borrow $ 1,000 and get $ 1,325 back in 28 weeks?

3. What amount of money do you get back if you borrow $ 500 and the interest rate is 5% every 28 days and you borrow it for 180 days?

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

Creating Shareholder Value A Guide For Managers And Investors

Authors: Alfred Rappaport

1st Edition

0684844109, 9780684844107

More Books

Students also viewed these Finance questions