Determine the interest rate earned on a $1,400 deposit when $1,800 is paid back in one year.
Answer to relevant QuestionsDetermine the interest rate earned on a $2,300 deposit when $2,900 is paid back in one year. How can you use the concepts illustrated in computing the number of payments in an annuity to figure how to pay off a credit card balance? How does the magnitude of the payment impact the number of months? What is the future value of a $700 annuity payment over six years if interest rates are 10 percent?Assume that you contribute $150 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $350 per month for the next 25 years. Given an 8 percent interest rate, what is the value of ...If you start making $50 monthly contributions today and continue them for five years, what’s their future value if the compounding rate is 10 percent APR? What is the present value of this annuity?
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