How to solve 2 Rule of 72 If you deposit 5,000 today at 12 percent rate of interest in how many years (roughly) will this amount grow to ₹1,60,000 ? Work out this problem using the rule of 72 - do not use tables.
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Imagine you have a credit card balance of $1,000 that you would like to pay off within one year. The annual interest rate on that credit card is 16%, but interest compounds monthly, and you are required to make a payment each month. What amount would you have to pay monthly to pay off this balance within one year? Question options: a $90.71 b $80.66 c $83.33 d $99.12Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- solve this practice problemInterest Rate? Problem 2 In 4 years, you plan to buy a new car and will need a down payment. How much would you need to invest today in order to have $8,000 in 4 years? Assume interest rates are 4%. Which table will you use for the above calculation? Number of periods? Factor? hapter What is the amount of investment? Problom 3 value of money and Бопа X A P Q S YNot solve in the excel