Last year, Chris deposited \$ 4000 into an account that paid 7 % interest per year and \$ 1000 into an account that paid 4 % interest...

the formula L=p[1-(1+(r/n)-nt)/(r/n)] gives the amount of a long L in terms of the amounts of each payment P, the intrest rate is r, the number of payments per year n, and the number of years...

A banker plans to lend part of \$24,000 at a simple interest rate of 16% and the rest of the money at 19%. How much should he lend at each percent to obtain a total return of 18.5% on the total amount...

Suppose you inherited \$1003. What would be the interest rate at 3%? Using yearly compounding what is the accrued value after 5, 10 and 15 years?

Last year, Justin had \$20,000 to invest. He invested some of it in an account that paid 8% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After...

Tom has \$600,000. He purchased saving bonds at 8% per annum. After the first year he cashed the bond in and put the same sale on the bond at the bank which offered 15% internet. How much money does...

Parents wish to have \$150,000 available for a child's education. If the child is now 7 years old, how much money must be set aside at 3% compounded semiannually to meet their financial goal when the...

Hello. I am trying to solve this problem: "Suppose that the annual effective rate of interest is 6%, and an investment of \$X is made at time 0. The investment has a return of \$2000 after 4 years...