How much interest is paid

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Reference no: EM132839353

Questions -

Q1. A loan is made for 4 years of $10,000. If the interest on the loan is charged at 4% interest compounded annually, how much interest is paid, and how much money must be paid back at the end of 4 years?

Q2. Use an amortization schedule or one of Excel's built in financial formulas to determine the amount of money that would be in a savings account if $50 was deposited each month and earns 2% interest compounded monthly for 10 years.

Q3. Determine if the sequence of values 10,15,22,5,33,75,50,625 .....is exponential or not. If it is, determine the common ratio. If it is not, explain why there is no common ratio.

Reference no: EM132839353

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