Please solve all three problem I will give you thumbs up. Problem 1 Mrs. Doe deposits $100 into a saving account that earns interest at %12 a year compounded monthly. How much interest will be earned during: 1) the first year; 2) the second year. Problem 2 Find the compound interest earned on the investment of $100 for 5 years at a nominal rate of 5% compounded with frequencies: annual, semi-annual, quarterly, monthly, weekly and daily.
Please solve all three problem I will give you thumbs up. Problem 1 Mrs. Doe deposits $100 into a saving account that earns interest at %12 a year compounded monthly. How much interest will be earned during: 1) the first year; 2) the second year. Problem 2 Find the compound interest earned on the investment of $100 for 5 years at a nominal rate of 5% compounded with frequencies: annual, semi-annual, quarterly, monthly, weekly and daily.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please solve all three problem I will give you thumbs up.
Problem 1
Mrs. Doe deposits $100 into a saving account that earns interest at %12 a year compounded monthly. How much interest will be earned during: 1) the first year; 2) the second year.
Problem 2
Find the compound interest earned on the investment of $100 for 5 years at a nominal rate of 5% compounded with frequencies: annual, semi-annual, quarterly, monthly, weekly and daily.
Problem 3
Mr. Doe can buy a car for $50,000 cash or payments of $35,000 down and $25,000 in 5 years. If he can earn interest at 10% a year compounded weekly, which plan is better?
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