Billy Joel Ropeado received a birthday present from his grandmother on his tenth birthday of...
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Billy Joel Ropeado received a birthday present from his grandmother on his tenth birthday of $100. Billy Joel was a prudent child and invested his money at 4.5% interest, compounded annually. That investment is now worth $3,000. How old is Billy Joel today? Show all your work
B. Billy Joel Ropeado borrowed $17,500. The loan terms require to pay the interest annually with the entire principal due in four years. The interest rate is 9.5%. How much will Billy Joel Ropeado pay to the bank in year four of the loan? Show your work.
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