Question
Question 3) $10,000 is invested for 10 years at an interest rate of 3.75% p.a. with annual compounding. How much interest is earned in: (a)
Question 3) $10,000 is invested for 10 years at an interest rate of 3.75% p.a. with annual compounding. How much interest is earned in:
(a) the first year? (b) the tenth year?
Question 4) You have a student loan of $2,000. How much will be required on 14 December 2019 to repay the loan if it was made on 14 December 2015 at 8% p.a. compounding half-yearly?
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Financial And Insurance Formulas
Authors: Tomas Cipra
2010th Edition
3790829013, 978-3790829013
