You decide to save up for a big trip and deposit 882 in a special vacation account today. If your account earns 4.94% annually, how much will you have available to spend in 8 years?

If you want to have $2,971 in 8 years, how much money must you put in a savings account today? Assume that the savings account pays 5.1% and it is compounded annually.

Your company has received a $50,000 loan from an industrial finance company. The annual payments are $6,202.70. If the company is paying 9 percent interest per year, how many loan payments must the company make?

15

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12

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Answer rating: 100% (QA)

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