You invest $1,000 in an account that pays interest at 12 percent annual rate, compounded quarterly. How much would your

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answerhappygod
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You invest $1,000 in an account that pays interest at 12 percent annual rate, compounded quarterly. How much would your

Post by answerhappygod »

You invest $1,000 in an account that pays interest at 12 percent
annual rate, compounded quarterly. How much would your investment
grow to in 5 years?
You plan to purchase a BMW M5 sedan for $85,000. You have
saved $30,000 for the car and plan to invest this money to purchase
the car. How many years would you have to wait if you can
earn 12 percent annual rate, compounded quarterly?
Loan Shark Company provides short term loans. They will
loan you $4 today and expect $5 back in one week! What is the
APR for this loan?
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