Reference no: EM132411168
1. Professor Charlie invested $700,000 in a savings account, the interest rate is 8% per year and length of time is 9 years. Compounding is quarterly, what is value of savings account at end of 8 years.
2. How many periods does it take for money to grow 5.5 times, if the interest rate is 5.5 % per period and compounding is semi-annually?
3. Souhi bought a land for $650,000 and travelled for a world trip. Once he returned after 2 years, he got surprised looking at land price which got appreciated to $850,000. What is the rate of appreciation?
4. Fon agreed to sign a contract for $800,000 at a rate of 15% for 18 years. What is the payment amount for month?
5. Siling wanted to save money which would help her after retirement which is, she planning to do after 55 years. She planned to have $625,000 with her. Interest rate she would be getting is 7%. How much will she need to contribute to IRA each year.
6. Alimata is planning to have a money trading business and she set a target of gaining $875,000 by end of 5 years by setting a rate of interest 12% semi-annually. What is the amount she needs to invest?
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