What is the largest loan he can afford

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1. Which account would yield more given a lump sum deposit of $100 for 4 years: an account earning 6.75% compounded monthly or an account earning 7% compounded quarterly?

2. Will can afford $250.00 car payments on a 36 month loan. His bank is offering a 9.8% interest rate on new car loans for 36 months. What is the largest loan he can afford?

3. How long will it take Stephanie to accumulate $10,000 if she puts $6000 into an account earning 6% payable annually.

Reference no: EM131999722

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