Question: Present value for various discounting periods Find the present value of $700 due in the future under each of these conditions: 14% nominal rate, monthly
Present value for various discounting periods
Find the present value of $700 due in the future under each of these conditions:
14% nominal rate, monthly compounding, discounted back 1 year.
ou borrow $55,000; the annual loan payments are $3,180.66 for 30 years. What interest rate are you being charged?
Future value for various compounding periods
Find the amount to which $800 will grow under each of these conditions:
16% compounded monthly for 3 years. Round your answer to the nearest cent. $??
16% compounded daily for 3 years. Round your answer to the nearest cent. $??
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