Question
Eve saves $500 today. Compute the value of her savings in five years if the relevant interest rate is 7%. Adam needs $1,000 in exactly
Eve saves $500 today. Compute the value of her savings in five years if the relevant interest rate is 7%.
Adam needs $1,000 in exactly eleven years. How much must he save today to achieve his goal if the interest rate is 9%?
Abraham has $49 today and needs $92 in exactly six years. Compute the interest rate.
Kane promises to pay his brother $200 per year every year for eight years. Compute the future value if his brother can earn 11%.
Noah has $9,000 today and promises to pay his sons every year for seven years (beginning in one year). Compute the annuity if the interest rate is 3%.
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