Reference no: EM132145698
1) Hillary wants to go to Disneyland in 4.25 years. She wants to take her partner and 2 kids (4 people in Total). If it is going to cost $453.27 per person to go on the trip.
-What will the cost be for the entire trip?
-How much money does she need to have today to have enough money if she can earn a rate of 7% compounded Quarterly on the money?
-How much money does Hillary need to invest today to have enough money if the price of the whole trip was $7,373.22 and everything else stayed the same?
2) Kamil borrowed $2,175 at a rate of 9.8% compounded Monthly. They repaid the loan in 23.75 years.
-What is the total amount owing when Kamil repays the loan?
-What is the amount of interest on the loan?
-How much would Kamil to pay if the interest rate was 12.6%?
3) Hardeep can earn a rate of 3.5% compounded Semi-Annually. He wants to know how long in years it will take his money to Triple to $4,080.
-How much money did Hardeep start with?
-How long did it take in years for Hardeep's money to Triple.
-What would the rate need to be if Hardeep's money took 9.83 years to Triple? as a %
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: Kamil borrowed $2,175 at a rate of 9.8% compounded Monthly. They repaid the loan in 23.75 years.
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