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Solving for n with nonannual periods?

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1) (Solving for n with nonannual periods?) About how many years would it take for your investment to grow fourfold if it were invested at an APR of 17 percent compounded semiannually?? (round to nearest whole number)

2) (Solving for r of an annuity?) You lend a friend ?$20,000?, which your friend will repay in 5 equal annual? end-of-year payments of ?$6,000?, with the first payment to be received 1 year from now. What rate of return does your loan? receive? (assume answer is %; round to 2 decimal places)

3) (Loan amortization?) On December? 31, Beth Klemkosky bought a yacht for ?$110,000?, paying ?$16,000 down and agreeing to pay the balance in 15 equal? end-of-year installments at 12 percent interest on the declining balance. How big will the annual payments? be? (round to nearest cent)

Reference no: EM132842574

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