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1) You just bought a used car for $9,000 with no down payment using dealer financing at 4% APR compounded monthly. If you make monthly
1) You just bought a used car for $9,000 with no down payment using dealer financing at 4% APR compounded monthly. If you make monthly payments of $350, how many months will it take you to payoff the loan?
2) You have $86,000 in your account that you want to grow to triple that amount in 25 years. What annual rate of return is necessary to reach your goal? (Note: Enter your answer is a decimal, not a percentage. For example, enter .0452 instead of 4.52%)
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