Question: please explain how 1. A man wishes to have $ 100,000.00 on a bank that earns an exact simple interest rate of 8.50%. a. How
1. A man wishes to have $ 100,000.00 on a bank that earns an exact simple interest rate of 8.50%. a. How much money should he deposit on an account to fulfill his wish if he decided to deposit it two days from now and withdraw this account on August 26, 2020 and no other withdrawals will takes place? b. When will this wish takes place if he decided to deposit an amount of $ 80,000 today without any other withdrawals? 2. An investment becomes $ 4,500,000 four years from now and becomes $5,250,000 thirteen years from now. a. Assuming rate of compounded interest remains constant through time, what was the investment's value five years ago? b. What rate of interest compounded quarterly is equivalent to the interest rate of the given investment? 3. A debt of $ 15,000 was paid for as follows: $ 4,000 at the end of 3 months, $ 5,000 at the end of 10 months, $3,000 at the end of 17 months, and a final payment Fat the end of 21 months. If the rate of interest was 18% compounded quarterly, find the final payment F
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