The simple interest rate which is equal to a discount rate of 12% per year for a period of 18 months is[1] 10,34%.[2] 0,12%.[3] 12,00%.[4] 14,63%.[5] none of the above.

For such type of problem we assume that principal value is 100.

Answered: The simple interest rate which is equal…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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7.) Your 401K saving account was worth $5,500. During the first year it was invested it lost 8%. During the second year, it gained 10%. What was the value of your 401K after the first 2 years?
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Mr. Del Valle is 54 years old and plans to retire in 8 years. He wants to live at least 20 years after he retires. He has $125,000 in savings and expects to earn 7% annual interest. He expects to have an income of $45,000, the same income he currently receives from his job. Del Valle will begin receiving his benefit after 8 years on a bi-weekly basis (24 payments per year) after he retires. Annual inflation is expected to reach 5%. Determine how much Mr. Del Valle must save over the next 8 years to meet the retirement goal.

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The simple interest rate which is equal to a discount rate of 12% per year for a period of 18 months is [1] 10,34%. [2] 0,12%. [3] 12,00%. [4] 14,63%.