Muhammad takes out a loan of $ 4,483, at 8% simple interest, for 7 years. How...
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Muhammad takes out a loan of $ 4,483, at 8% simple interest, for 7 years. How much will he pay back at the end of year 7? QUESTION 2 Calculate the amount of interest on an investment of AED 173,754 at 8% simple interest for 6 years. QUESTION 3 If you deposit today $7,137 in an account for 6 years and at the end accumulate $13,119, how much compound interest rate (rate of return) you earned on this investment? QUESTION 4 You will deposit 17,250 at 10% simple interest rate for 7 years, and then move the amount you would receive to an investment account at 9 % compound rate for another 3 years. How much money would you have at the end of the entire period? Muhammad takes out a loan of $ 4,483, at 8% simple interest, for 7 years. How much will he pay back at the end of year 7? QUESTION 2 Calculate the amount of interest on an investment of AED 173,754 at 8% simple interest for 6 years. QUESTION 3 If you deposit today $7,137 in an account for 6 years and at the end accumulate $13,119, how much compound interest rate (rate of return) you earned on this investment? QUESTION 4 You will deposit 17,250 at 10% simple interest rate for 7 years, and then move the amount you would receive to an investment account at 9 % compound rate for another 3 years. How much money would you have at the end of the entire period?
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QUESTION 1 To calculate the amount Muhammad will pay back at the end of year 7 we need to use the fo... View the full answer
Related Book For
Personal Finance Turning Money into Wealth
ISBN: 978-0134730363
8th edition
Authors: Arthur J. Keown
Posted Date:
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