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Suppose you borrow $2,000 at 5%, and you are going to make annual payments of $734.42. How long before you pay off the loan? Suppose
Suppose you borrow $2,000 at 5%, and you are going to make annual payments of $734.42. How long before you pay off the loan? Suppose you borrow $10,000 from your parents to buy a car. You agree to pay $207.58 per month for 60 months. What is the annual interest rate? Suppose you plan to deposit $1500 into an account in one year and $1800 into the account in three years. How much will be in the account in five years if the interest rate is 8%
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