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q1,q2,q3 Question 3 John earns an interest rate of 12% on a $15000 savings account. Calculate the future value of this amount if Kevin keeps
q1,q2,q3
Question 3 John earns an interest rate of 12% on a $15000 savings account. Calculate the future value of this amount if Kevin keeps it for 5 years. (Show your calculations) Question 4 Ryan wants $36000 after 12 years. The interest rate available on a specific investment, which he is interested in, is 12% per annum. How much he should invest today to receive the desired amount? (Show your calculations) Question 5 (2 points) John has $20000 as savings and he wants to invest them. He has two options to invest in. Option 1: This offers 12% interst rate for 5 years. Options 2: This offers 9% interest rate for 8 years. ( As an expert of such investments, assist John which option should he choose for his investment. (Show your calculations) Step by Step Solution
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