Question
Problem 1 You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10 years and then move it into
Problem 1
You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10 years and then move it into a savings account that pays 0.70% interest compounded annually. What is the final balance in your account at the end of 18 years?
10 Years
18 Years
Problem 2
You purchase an investment property for $150,000, make $30,000 in repairs, and then refinance the loan. You agree to a 15 year loan at 2.5% interest on the unpaid balance. What will be the amount of each monthly principle and interest payment?
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A Tiny Book On Personal Finance Saving And Investing Budget Save Invest Retire
Authors: David S. Shekmer
1st Edition
179576385X, 978-1795763851
