8. Suppose you have to invest $15,000 at an interest rate of 3.5% (compounded quarterly)...
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8. Suppose you have to invest $15,000 at an interest rate of 3.5% (compounded quarterly) for a period of 5 years. What will be the value of your investment at the end of 5 years? 9. You have $900 to invest today. In how many years will it double if you invest it at an interest rate of 11% compounded annually? 10. Suppose you want to buy a home after 3 years and you will need $15,000 for that. You open a savings account and deposit a lump sum amount of $2,000. You want to make a monthly payment at an interest rate of 4.5%. What should be the constant monthly payment you should make to reach the goal of $15,000 after 3 years
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