Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please help with the following: show on excel. Question 3. (2 marks) You invest $28,000 in an account today. The account will pay 7.2% compounded
please help with the following: show on excel.
Question 3. (2 marks) You invest $28,000 in an account today. The account will pay 7.2% compounded annually. How long will it take until you have $40,000 in the account? 4.88 years 4.94 years 5.13 years 5.20 years none of the above d) Question 4. (2 marks) You have just bought a car for $34,000. You borrowed the purchase price from the bank. The loan has a quoted rate of 8.2% compounded semi- annually and it calls for monthly payments for the next 7 years. The payments are made at the beginning of the month. What is the monthly payment? $529.05 b) $531.00 $527.46 $532.65 None of the aboveStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started