The sum of $$6600$ is deposited into an account paying $12\%$ annually. If $$700$ is withdrawn at the end of year $1,$ year $2$ and year $3,$ how much remains in the account at the end of year $3?$

  

D$.$ $$6,910\mathrm{.}45$ Question $2$: The U$.$S$.$ Treasury borrowed money for $10$ years, selling each I O U for $$777\mathrm{.}40.$ What is the interest rate?

  

 

 

D$.3\mathrm{.}550\%$ Question $3$: Your auto dealer gives you the choice A to pay $$15,500$ cash now or choice B to make three payments: $$8,000$ immediately and $$4,000$ at the end of the next two years. If your cost of money is $8\%,$ which do you prefer?

  

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Solution Question 1 The sum of 6600 is deposited into an account paying 12 annually If 7000 is withd... View the full answer