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Question 1 (10 points) 1. You decide to invest $15000 into a bank account that that is compounding its interest monthly. Assuming the bank is paying out an interest rate of the current prime rate - 1% (In the event that prime - 1% is less than 1%, use 1%), and the investment is for 5 years a) How much money (total) do you have after the 5 years pass? b) How much do you earn in interest over the 5 years? Question 2 (10 points) 2. You wish to have $500,000 saved up in 30 years. Assuming that you can get an interest rate of prime + 5% on your investment (compounded quarterly.) a) How much do you need to invest today to have $500,000 30 years in the future? b) How much of that total is interest? Question 3 (10 points) 3. You borrow $50,000 at 5% interest (compounded daily). a) After 1 year passes, you pay off $25000 of the loan. How much do you still owe on the loan? b) After another year passes, you wish to pay off the loan. How much do you need to pay to pay it off? Essay (15 points) 4. While everyone dreams of high interest rates for investments, usually high interest rates come with other disadvantages. Using the interest or other sources, research and write an essay on the advantages and disadvantages of higher interest rates on investments. Look at factors like risk, reward, and possible other things that would change to balance out the higher interest rates. Requirements for essay
• You must cite and reference at least one source (book, website, periodical) using APA format. The required website counts as one source.
the package shipping company charges 5.25 to deliver package in addition charge 0.45 for each pound over one pound. is
Supply and demand at $1.40 per bushel, the daily supply for oats is 850 bushels, and the daily demand is 580 bushels. When the price falls to $1.20 per bushel, the daily supply decreases to 350 bushels and the daily demand increases to 980 bushels..
find the largest area a circle a square or a rectangle.use a wire of length x to bend into a shape of rectangle a
A lighthouse is located on a small island 2 km away from the nearest point P on a straight shoreline and its light makes four revolutions per minute. How fast is the beam of light moving along the shoreline when it is 1 km from P? (Round your answ..
A chip is selected at random, what is the probability that it is from Machine I and is defective? A chip is selected at random, what is the probability that it is defective?
How many different seating arrangements are possible for 6 people in 4 chairs?
Towns A, B, and C form a triangle in which angle A is congruent to angle C. A pilot flies from town A to town B at a heading of 330, then to town C at a heading of 260. At what heading should the pilot fly to return to town A?
(a) what is the probability that the total life of both batteries will exceed 760 hours? (b) what is the probability that the second battery will outlive the first by at least 25 hours?
Meyerhof method to calculate the ultimate bearing capacity - Use the Meyerhof method to calculate the ultimate bearing capacity of the raft foundation and the allowable bearing capacity
What is the marginal cost per bicycle?
A poster is to have an area of 150 in2 with 1 inch margins at the bottom and sides and a 5 inch margin at the top. What dimensions will give the largest printed area?
Aproximately what percentage of household incomes in this state is betwee $27,000 to $63,000/year? Show all work as to how this is obtaines.
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