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All interest rates are annual percentage rate (APR) unless otherwise stated. Day count convention is 365 days unless otherwise stated. 1. A person deposits 10,000
All interest rates are annual percentage rate (APR) unless otherwise stated. Day count convention is 365 days unless otherwise stated. 1. A person deposits 10,000 TL into a time deposit account. Maturity is 60 days, interest rate is 10 %. What is the amount of interest received in 60 days? 2. A person deposits 15,000 TL into a time deposit account and receives 444 TL interest. Interest rate is 12 %. What is the maturity in days? 3. A person deposits 12,000 TL into a time deposit account and received 598 TL interest. Maturity is 182 days. What is the interest rate? 4. A person deposits 10,000 TL into a one-year time deposit account. Interest rate is 15 %. What is the future value in 3 years compounded yearly? 5. A person deposits 10,000 TL into a one-year time deposit account. Interest rate in the first year is 15 %. Expected interest rate in the second year is 19%, expected interest rate in the third year is 17%. What is the future value in 3 years compounded yearly
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