Question
The monthly mortgage payment on your house is $611.89. It is a 30 year mortgage at 7.8% APR, compounded monthly and paid at the end
The monthly mortgage payment on your house is $611.89. It is a 30 year mortgage at 7.8% APR, compounded monthly and paid at the end of each month. How much did you borrow (rounded to the nearest dollar)?
You invest $150 in an account and receive $200 after 30 months. What is the annual rate of return for this investment? Interest is compounded monthly.
An investment pays $200 per month for 10 years, discount rate = 8% (APR). What is the current value rounded to the nearest dollar?
You are looking at an investment that promises to pay $2,000 per year forever! What is the value of this investment using an annual return of 8%?
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