What interest rate must you earn to achieve your goal

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Reference no: EM131027103

1. You have $1,003 today, and want to double your money in 6 years. What interest rate must you earn to achieve your goal?

Enter rate in percents, accurate to two decimal places.

2. The house you want to buy costs $277 thousand. You plan to make a cash down payment of 10 percent, and borrow the rest in a 30 year mortgage at 3.49 percent APR. What will be the amount of your monthly mortgage payment?

Reference no: EM131027103

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