3. $10,000 was deposited at the end of every quarter in an account nivery an...
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3. $10,000 was deposited at the end of every quarter in an account nivery an annual interest rates of 6.5% compounded quarterly. How much was in the account after 5 years, and how much of that was interest? 4. How much can you borrow at 6.5% compounded quarterly for 5 years if you can pay $10,000 every quarter? How much of that is interest? 5. How much did you borrow at 13% compounded weekly for two years if you paid back $6,767.78? 6. A loan of S2,500 was repaid at the end of 302 days with a check for 2,814.58. What annual rate of interest was charged? 7. A company decided to establish a fund to replace a piece of equipment in 6 years at an estimated cost of $50,000. To accomplish this, they decide to make fixed monthly payments into an account that pays 6.12% compounded monthly. How much should each payment be? 8. A couple has a $50,000, 20-year mortgage at 9% compounded monthly. What are their monthly payments
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