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I am confused on numbers 3-5 please! its also within the engineering economics What is the present worth (P) of a future sum (F) of
I am confused on numbers 3-5 please! its also within the engineering economics
What is the present worth (P) of a future sum (F) of $3500 in 10 years with an annual interest rate at 10%, compounded annually? Say you borrow $1750 from your bank. You agree to repay the lump sum after 3 years, together with the interest at 7.75% per year, compounded annually. How much do you owe the bank at the end of 3 years? A perspective homebuyer wants to finance the purchase of a house costing $150,000 over a period of 15 years. If the interest is 6 percent per year, what will be the annual payment, and the monthly payment? A bank offers the following interest rates: 6% compounded annually; 5.9% compounded semiannually; 5.8 compounded quarterly 5.5% compounded monthly; 5.45% compounded continuously. Which rate would you select to provide the highest return? The Columbia bank pays 8% interest, compounded annually, on savings deposits. In Booneville, the bank pays 8% interest, compounded quarterly. If you have $7000 to put in savings, which bank is better for youStep by Step Solution
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