Answered step by step
Verified Expert Solution
Question
1 Approved Answer
26 You start with $1,000 and end up with $5000 after 10 years. What was the interest rate ? Enter the answer in percentage format
26 You start with $1,000 and end up with $5000 after 10 years. What was the interest rate ? Enter the answer in percentage format to two decimal places 933 % )
28You just borrowed $50000 to buy a car. You will pay back this loan with monthly payments of $1000 for 15 years. What is the Apr on this loan?
29 Your rich cousin has promised to pay you $200 at the end of the every year for the next three years . You can invest all of the cash flows at 4.09 % . What is this cash flow stream worth to you at the end of the third year ? Answer to 2 decimal places
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started