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Future value of account equal

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Reference no: EM131066164

Simple Interest: Don took out a $20,000 loan at 18% simple interest which resulted in a future value of $22,500. How many days was the loan held? Assume a year is 365.25 days.

Compound Interest: Ingrid needs $5,000 to purchase camera equipment. She invests $4,000 of her own cash into an account paying 5% interest compounded annually. How many years will be required to earn the $1,000 in interest that she needs?

Annuity Earnings: Kiki is saving money in an annuity and is earning 10% annual interest compounded semi-annually. If she deposits $2,000 in the account every six months for three years, what will the future value of her account equal? How much interest will she have earned?

Reference no: EM131066164

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