Reference no: EM132957395

Question - On 2003/8/1, Peter borrowed $9000, agreeing to pay interest at 2.3%/year compounded monthly. He paid $1800 on 2005/3/1, and $2250 on 2009/4/1. What equal payments on 2010/1/01, and 2014/6/01 will be needed to settle the debt? 

A consumer buys goods worth $490. She pays $49 down and will pay $245 at the end of 1 year. If the store charges interest at a rate of 5.0%/year compounded monthly on the unpaid balance, what final payment will be necessary at the end of 24 months?

9000 is due at the end of 6 years and $9000 at the end of 12 years. If money is worth 8.9%/year compounded weekly, determine an equivalent single amount at the end of 8 years.

How long will it take for $540 to grow to $2020 in a fund earning interest at a rate of 5.8%/year compounded weekly?