Question
Please solve the following 3 problems and submit your solutions via Brightspace 1 At what growth rate (annual interest rate), it would take a sum
Please solve the following 3 problems and submit your solutions via Brightspace 1 At what growth rate (annual interest rate), it would take a sum to triple in 13 years? Select the interest rate that is closest to the correct answer. (2 points) ------------------------------------------------------------------------------------------------------------------------- 2. If you borrow a principal amount of $6,489 and are required to repay the loan in five equal installments of $1,800, what is the interest rate associated with the loan? (2 points) ------------------------------------------------------------------------------------------------------------------------ 3. Determine the amount of money in a savings account at the end of 5 years, given an initial deposit of $50,000 and an 4 percent annual interest rate when interest is compounded: (6 Points) A. Annually B. Semiannually C. Quarterly
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