Find the length of the loan

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Reference no: EM132770312

Problem 1: Find the length of the loan if an investment of $5109 grows to $10,776 at a rate of 9% compounded daily. Give your answer in years.

Problem 2: Find the amount that must be invested at 8.5% compounded monthly to have $20,000 for a house down payment in 6 years.

Problem 3: What is the total interest earned if $200 is deposited at the beginning of each month for 10 years if the investment earns 7.8% compounded monthly?

Problem 4: What is the monthly payment on a mortgage of $125,000 at 4.25% compounded monthly if payments are made at the end of the month for 30 years?

Reference no: EM132770312

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