Your friend wants to pay off her two debts in a single

Reference no: EM13616103

1. If maria wants to collect $16750 in 5 years and has an option to deposit an initial amount of $5000 in an account bearing interest compounded monthly, what rate of interest will help her achieve her goal?

2. How long will it take (in years) for $11, 450 to accumulate to $29, 545.88 if the money is worth 18% compounded semiannually?

3. Kevin was told that his loan bears 12% interest. Knowing that the compounding term will be monthly, what is the effectieve rate of interest weekly.

4. What sum of money due at the end of 6 years is equivalent to $2,100 due at the end of 10 years if the compound interest rate is 10 1/2%?

5. Your friend wants to pay off her two debts in a single payment. The first debt is $570 due in 8 months, and hte second is $1,380 due 1 1/2 in years. What will that single payment be if she wants to make it at the end of 1 year given a compound interest rate of 4.9%

Reference no: EM13616103

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