Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A- If you pay 91.7 $ every month for 12 month to repay a loan, compute the nominal interest rate you paid? B- If you

image text in transcribed

A- If you pay 91.7 $ every month for 12 month to repay a loan, compute the nominal interest rate you paid? B- If you put 10000$ in a bank and you want to have 30000$ after the four year how much you should save each year if the interest rate was 12% for the 10000 and the mney you saved every year C- Sara make investment of $10,000 in a savings account 10 years ago. This account paid interest of 51/2% for the first 4 years and 61/2% interest for the remaining 6 years. The interest charges were compounded quarterly. How much is this investment worth now? D- Adebt of $5000 can be repaid, with interest at 8%, by the following payments. Year Payment $ 500 2 1000 1500 2000 X The payment at the end of the fifth year is shown as X. How much is X

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

Recommended Textbook for

Public Finance

Authors: Harvey Rosen, Ted Gayer

10th edition

9781259716874, 78021685, 1259716872, 978-0078021688

More Books

Students also viewed these Finance questions