How much total interest is earned on the original deposit

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Reference no: EM13297657

1.Assume that you contribute $120 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $220 per month for another 20 years. Given a 7.0 percent interest rate, what is the value of your retirement plan after 40 years? 2.Payday loans are very short-term loans that charge very high interest rates. You can borrow $1,100 today and repay $1,287 in two weeks. What is the compound annual rate implied by this 17 percent rate charged for only two weeks? 3.You are scheduled to receive a $400 cash flow in one year, a $700 cash flow in two years, and pay a $300 payment in three years. If interest rates are 10 percent per year, what is the combined present value of these cash flows? 4. What is the value in year 7 of a $1,200 cash flow made in year 11 when interest rates are 10.3 percent? 5. Consider a $2,300 deposit earning 9 percent interest per year for 8 years. How much total interest is earned on the original deposit (excluding interest earned on interest)?

Reference no: EM13297657

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