Question
1.- What amount of money will have been accumulated after 5 years if $35,000 is invested at 1% per month with interest compounded every two
1.- What amount of money will have been accumulated after 5 years if $35,000 is invested at 1% per month with interest compounded every two months?
2.- At what compound interest rate should $11,500 pesos be deposited to dispose of $13,000 in 15 months? Consider that interest is compounded every two weeks?
3.- How long will it take to triple a principal if the interest rate is 18% compounded every four-month period?
4.- If $30,000 is invested at 0.65% monthly interest compounded monthly for one year and 5 months. Obtain the final future value at this time and how much more was earned with compound interest than would have been earned with simple interest?
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