Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. You deposited $1400.00 today in a saving account at Fransi Bank that pays you 3% interest per year. How much money you will get

image text in transcribed
image text in transcribed
1. You deposited $1400.00 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 $10400.00 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 $104.00 today at 5% interest for 3 years, if interest is compounded under annually and semi-annually. Annually: Semi-annually: 3. How many years will it take for $136400.00 to grow to be $468400.00 if it is invested in an account with an annual interest rate of 8%? 4. You plan to borrow $389000.00 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 18.00%, how much will your annual payments be

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

Students also viewed these Finance questions

Question

int c = 0 ; for ( int k = 0 ; k Answered: 1 week ago

Answered: 1 week ago