Reference no: EM132790913
Questions -
1) S1750 is invested in an account earning 13.5% interest compounded monthly for a 2 year period. What is the balance at the end of 9 years?
2) You lend out S5500 at 10% compounded monthly. If the debt is repaid in 18 months, what is the total owed at the time of repayment?
3) A S10, 000 Treasury Bill earned 16% compounded monthly. If the bill matured in 2 years, what was it worth at maturity?
4) You borrow S25000 at 12.25% interest compounded monthly. If you are unable to make any payments the first year, how much do you owe, excluding penalties?
5) A savings institution advertises 7% annual interest, compounded daily, How much more interest would you earn over the bank savings account or credit union in problems 7 and 8?
6) An 8.5% account earns continuous interest. If S2500 is deposited for 5 years, what is the total accumulated?
7) You lend S100 at 10% continuous interest. If you are repaid 2 months later, what is owed?
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