What was the purchase price of the house

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Reference no: EM131355828

1. You have $1725 to invest. You know that a particular investment will double your money in five years. How much will you have in 10 years if you invest in this investment, assuming that the annual rate of return is guaranteed for the time period?

2. Morris paid £500 a month for 20 years to pay off the mortgage on his Glasgow house. If his down payment was £5000 and the interest rate was 6% compounded monthlv, what was the purchase price of the house?

Reference no: EM131355828

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