Question
Suppose you plan to save $1,730 semi-annually ( meaning twice a year ) over the next 6 years. If you found a bank which will
- Suppose you plan to save $1,730 semi-annually (meaning twice a year) over the next 6 years. If you found a bank which will give you 9% APR, how much would you have in 6 years. (Round the answer two decimal point)
2. Suppose Aysha has $2,300 and she is worried that she will not have enough money by the time she plans to get married in 8 years. If she would need $8,183 for her wedding what interest rate should you be shopping around for? (Round the answer two decimal point)
3. Suppose you plan to save $139 per month over the next 4 years. If you found a bank which will give you 9% APR, how much would you have in 4 years. (Round the answer two decimal point)
4.Suppose you are looking for a loan to buy a barn. If you can afford a payment of $301 per month and want to pay the loan off over the next 7 years, how much can you borrow, if the bank will charge you an interest rate of 4% APR? (Round your answer to two decimal point)
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