Question
You made a saving valued $1000 today. You expect your money will be accumulating to become $10000 in five years. What is the expected interest
You made a saving valued $1000 today. You expect your money will be accumulating to become $10000 in five years. What is the expected interest to achieve this figure? 2. You want to buy your 1st car after 3 years working. The car price is around $70000 which require deposit of 10% = $7000 before your loan being processed. What is the expected interest to achieve this figure in 3 years? Which financial institution can give you such interest rate? Explain. 3. Now you know that you are not capable to find such high interest in (3.8). So you lowering down your expectation by buying used car which price is around $30000 and require deposit of 10% = $3000 before your loan being processed. What is the expected interest to achieve this figure in 3 years? Which financial institution can give you such interest rate? Explain. 4.You want to buy your 1st house in 10 years working time. The house price is around $200000 which require deposit of 10% = $20000 before your loan being processed. What is the expected interest to achieve this figure in 10 years? Any idea which financial institution can give you such interest rate? Explain.
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