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A trust fund currently contains $805714 and earns interest at the rate of 3% compounded monthly. For how many months could the fund sustain end
A trust fund currently contains $805714 and earns interest at the rate of 3% compounded monthly. For how many months could the fund sustain end of month withdrawals of $4171? Give your answer as the number of months that the fund could sustain FULL payments. No units required. Answer: Check te of Nathan has a loan of $7000 to repay, with an interest rate of 7% compounded monthly Nathan planned to make $150 payments at the end of each month to repay his loan, but is considering only $100 per month. How many additional months will it take to repay the loan if he pays $100 per month instead of $150? (Hint: Round each term in months up to a whole number before finding the difference.) Answer: Check
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