You invest $1,000 in an account that pays interest at 12 percent annual rate, compounded quarterly. How much would your investment grow to in 5 years?

You plan to purchase a BMW M5 sedan for $85,000. You have saved $30,000 for the car and plan to invest this money to purchase the car. How many years would you have to wait if you can earn 12 percent annual rate, compounded quarterly?

Loan Shark Company provides short term loans. They will loan you $4 today and expect $5 back in one week! What is the APR for this loan?

Answer rating: 100% (QA)

Part 1 Investment Growth Given Initial investment 1000 Interest rate 12 per year compounded quarterly Time period 5 years 20 quarters Formula We can u... View the full answer