Question
4- At what annual rate would the following have to be invested? 3578 $ to growth to 28217 $ in 23 years. Round the answer
4- At what annual rate would the following have to be invested? 3578 $ to growth to 28217 $ in 23 years. Round the answer to two decimal places in percentage form? (3M)
5- Calculate simple interest and compound interest assuming that principal amount is $ 10,000; interest rate is 9% for three years. What is the amount different between compound and simple interest? (3M)
6- You have $ 9,000 to deposit. ABC Bank offers 12 percent per year compounded monthly, while King Bank offers 12 percent but will only compound annually. How much will your investment be worth in 10 years at each bank? (4 M)
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