Question
Muhammad takes out a loan of $ 4,483, at 8% simple interest, for 7 years. How much will he pay back at the end
Muhammad takes out a loan of $ 4,483, at 8% simple interest, for 7 years. How much will he pay back at the end of year 7? QUESTION 2 Calculate the amount of interest on an investment of AED 173,754 at 8% simple interest for 6 years. QUESTION 3 If you deposit today $7,137 in an account for 6 years and at the end accumulate $13,119, how much compound interest rate (rate of return) you earned on this investment? QUESTION 4 You will deposit 17,250 at 10% simple interest rate for 7 years, and then move the amount you would receive to an investment account at 9 % compound rate for another 3 years. How much money would you have at the end of the entire period?
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
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