Question
1- You deposited $12300.00 today in a saving account at Fransi Bank that pays you 3% interest per year. How much money you will get
1- You deposited $12300.00 today in a saving account at Fransi Bank that pays you 3% interest per year. How much money you will get at the end of the first year?
You need $21300.00 for your tuition expenses in 5 years how much should you deposit today in a saving account that pays 3% per year?
2. You invest $213.00 today at 5% interest for 3 years, if interest is compounded under annually and semi-annually?
3- How many years will it take for $147300.00 to grow to be $479300.00 if it is invested in an account with an annual interest rate of 8%?
4- You plan to borrow $5001.00 now and repay it in 25 years as equal annual payments that will be made at the end of each year. If the annual interest rate is 127.00%, how much will your annual payments be?
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