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Hello, I would like some help with these questions, Thank you. 2) Question 1: Find the nominal annual rate of interest at which $1500 will
Hello, I would like some help with these questions, Thank you.
2) Question 1: Find the nominal annual rate of interest at which $1500 will grow to $1800 in 4 years, compounded monthly. 3) Question 2: In how many years will money quadruple at 8% compounded semi-monthly? 4) Question 3: Surinder borrowed $1,200 and agreed to pay $1,400 in settlement of the debt in 3 years and 3 months. What annual nominal rate compounded quarterly was charged on the debt? 5) Question 4: You borrowed $1215 from your friend today. After how many months would you have to return the loan if the interest rate is 6.3% compounded quarterly and you have promised to pay back $1473Step by Step Solution
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