Shelia takes out a loan for $4500 at a rate of 3.2% compounded annually. How much...

  

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Shelia takes out a loan for $4500 at a rate of 3.2% compounded annually. How much will Sheila need to pay at the end of 4 years? 2) Steve deposits $3,200 into a savings account that pays 1.8%, compounded monthly. How much is in the account after 54 months? 3) A certificate of deposit is paying 3.62% interest, compounded quarterly. Find the value of a $25,000 investment after 10 years. Then find how much interest was earned. 4) Marquin wants to take out a loan for $10,000 compounded continuously at a rate of 3.6%. How much will Marquin need to pay at the end of 7 years? 5) A certificate of deposit is paying 8.3% interest, compounded continuously. Find the value of a $14,000 investment after 15 years. Then find how much interest was earned. 6) When you were 20 you invested $12,000 into an account that compounds continuously. When you are 65 you will receive $550,000. What was your annual rate? Shelia takes out a loan for $4500 at a rate of 3.2% compounded annually. How much will Sheila need to pay at the end of 4 years? 2) Steve deposits $3,200 into a savings account that pays 1.8%, compounded monthly. How much is in the account after 54 months? 3) A certificate of deposit is paying 3.62% interest, compounded quarterly. Find the value of a $25,000 investment after 10 years. Then find how much interest was earned. 4) Marquin wants to take out a loan for $10,000 compounded continuously at a rate of 3.6%. How much will Marquin need to pay at the end of 7 years? 5) A certificate of deposit is paying 8.3% interest, compounded continuously. Find the value of a $14,000 investment after 15 years. Then find how much interest was earned. 6) When you were 20 you invested $12,000 into an account that compounds continuously. When you are 65 you will receive $550,000. What was your annual rate?

Answer rating: 100% (QA)

1 Using the formula for compound interest A P1 rnnt where A is the amount P is the principal r is th... View the full answer