You are comparing two annuities with equal present values. The applicable discount rate is 10 percent. One annuity pays $2,000 on the first day of each year for 30 years. How much does the second annuity pay each year for 30 years if it pays at the end of each year?
ABC Corp. wants to save $1,000,000 to buy some new equipment four years from now. The plan is to set aside an equal amount of money on the first day of each quarter starting today. The firm can earn an APR of 5.75 percent on its savings. How much does the firm have to save each quarter to achieve its goal?
3.What is the annual percentage rate on a loan with a stated rate of 4.75 percent per quarter?
4.You are going to loan a friend $900 for one year at a 7 percent rate of interest, compounded annually. How much additional interest could you have earned if you had compounded the rate continuously rather than annually?
Subject | Business |
Due By (Pacific Time) | 09/12/2014 03:30 pm |
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