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thank you so much for helping I genuinely appreciate it ! :) 1. You have $20,000 to invest. You need the money in 14 years
thank you so much for helping I genuinely appreciate it ! :)
1. You have $20,000 to invest. You need the money in 14 years and you expect to earn 6% per year. How much will you have in 14 years? 2. Steve needs $220,000 in 9 years for his daughter's education. If he can earn 5% per year, how much does he need to invest today? 3. You have $33,000 to invest and you need $50,000 for a down payment and closing costs on a house. If you want to buy the house in 7 years, what rate of interest do you need to earn? 4. You have $6,000 to invest right now and you figure you will need $28,000 to buy a new car. If you can earn 6% per year, how long before you can buy the car? 8. You are going to borrow $420,000 to buy a house. What will your monthly payment be if the annual interest rate is 3.8 percent and you borrow the money for 30 years? 9. You borrow $75,000 to be repaid in 8 equal payments at the end of each of the next 8 years. The bank charges 6 percent compounded annually. Prepare the loan amortization schedule Step by Step Solution
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