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14.Whats the interest rate of a 5-year, annual $4,000 annuity with present value of $15,000? 15.What annual interest rate would you need to earn if
14.Whats the interest rate of a 5-year, annual $4,000 annuity with present value of $15,000?
15.What annual interest rate would you need to earn if you wanted a $1,000 per month contribution to grow to $76,000 in six years?
16.To borrow $1,500, you are offered an add-on interest loan at 10 percent. Two loan payments are to be made, one at six months and the other at the end of the year. Compute the two equal payments.
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