4). Find the present value of $1000 receivable 2 years from now if the rate of simple interest is 8.5%.

5). How many months will it take at 6% simple interest for $2000 to grow to $2400?

6). Find the amount of interest for $3000 in an account paying simple interest of 5% for 2 years.

7). Find the amount of interest for $3000 in an account paying 5% interest compounded annually for 2 years. (Comment on this solution compared with your answer for question #6.)

8). Find i , the rate of interest per period, if $5000 is compounded monthly at 3% annual rate (APR). (Write the answer as a %)

9). Find n, the number of interest periods, if $4000 is invested for 7 years at 10% interest compounded quarterly.

10). Find the future value of $7000 compounded weekly at 8% APR for 3 years.

(List the values of P, r, t, m, i, n, F.)

Answer rating: 100% (QA)

4 Find the present value of 1000 receivable 2 years from now if the rate of simple interest is 85 Given Future value F 1000 Time t 2 years Interest rate r 85 or 0085 To find the present value P we can ... View the full answer