You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.
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You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.
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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?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You borrow $700 and promise to pay back $749 at the end of 1 year. Find interest rates earned.
- Find the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $680 and promise to pay back $782 at the end of 1 year. %Find the interest rates earned on each of the following:a. You borrow $720 and promise to pay back $792 at the end of 1 year.b. You lend $720 and the borrower promises to pay you $792 at the end of 1 year.c. You borrow $65,000 and promise to pay back $98,319 at the end of 14 years.d. You borrow $15,000 and promise to make payments of $4,058.60 at the end of each year for 5 years.Find the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $650 and promise to pay back $793 at the end of 1 year. % You lend $650 and the borrower promises to pay you $793 at the end of 1 year. % You borrow $90,000 and promise to pay back $187,376 at the end of 6 years. % You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years.
- Find the interest rates earned on each of the following: A. You borrow $700 and promise to pay back $749 at the end of 1 year B. You lend $700 and the borrower promises to pay you back $749 at the end of 1 year C. You borrow $85,000 and promise to pay back $201,229 at the end of 10 years D. You borrow $9,000 and promise to make payments of $2,684.80 at the end of each year for 5 yearsFind the interest rates earned on each of the following. Round your answers to the nearest whole number. a. You borrow $680 and promise to pay bạck $782 at the end of 1 year. % b. You lend $680, and the borrower promises to pay you $782 at the end of 1 year. c. You borrow $82,000 and promise to pay back $116,712 at the end of 9 years. % d. You borrow $20,000 and promise to make payments of $6,687.60 at the end of each year for 5 years. %You borrow $18826 to buy a car. You will have to repay this loan by making equal monthly payments for 5 years. The bank quoted an APR of 12%. How much is your monthly payment (in $ dollars)? $_______
- You borrow a GPM of $120,000 with annual payments and 30-year term. The interest rate is 10%. The payment rises by 2% each year. please show how to solve using excel to answer a. b. and c. below a. What are the annual payments for years 1 to 30? b. What is remaining balance at the end of each year? c. What are the interest payment and principal payment for years 1 to 30?You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years. What is the interest rate earned? Round your answers to the nearest whole numberSuppose you take a 6 year loan of $50,000 with an annual interest rate of 13% and monthly payments starting at the end of year 1. What are the monthly loan payments? Enter your response below.