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What is between simple interest and compound interest

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Reference no: EM132607508

Question 1. What is the difference between simple interest and compound interest?

Question 2. Suppose you have $500 to invest and you believe that you can earn 8% per year over the next 15 years.

a. How much would you have at the end of 15 years using compound interest?

b. How much would you have using simple interest?

Question 3. What is the relationship between present value and future value?

Question 4. Suppose you need $15,000 in 3 years. If you can earn 6% annually, how much do you need to invest today?

Reference no: EM132607508

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