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A)Jeremy has purchases a car and has taken a loan. The car is valued at $12,500. The loan carries an interest rate of 6.5% compounded
A)Jeremy has purchases a car and has taken a loan. The car is valued at $12,500. The loan carries an interest rate of 6.5% compounded monthly. If Jeremy repays the loan in 3 years, what is the accumulated value of the loan and what is the interest charged during the 3 years? B) Lydia wanted to invest $90,000 in a GIC for three years. A bank offers an increasing rate of interest on its three-year GIC's that pays annual compounded rates of 3.00%, 3.25% and 3.50% respectively in each successive year. A trust company offers GIC's that pay 3.00% compounded semi-annually for the three-year period. With which option would she earn more and by how much? C) Teresa took a risk and invested $275,000 in a fund that yielded 7.25% compounded daily. After one year, the yield dropped to 2% compounded monthly. What will be the accumulated amount in the fund at the end of 1 year and 10 months
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