please work put 1-6, and show the formula used 1. The simple...
80.2K
Verified Solution
Link Copied!
Question
Finance
please work put 1-6, and show the formula used
1. The simple interest on $2400 at 8% for 32 months. The amount owed at the end of the 32 months. Assuming equal monthly payments, the regular payment. Z Prt I-2400 (08 + 3a) I = $512 00 2. The present value of $2400 at 8% simple interest for 32 months. A 2400 53.08 m 12 T 2.66 W: 1941-33 3. The future value of $2400 at 8% annual interest compounded monthly for 32 months. 4. The present value of $2400 at 8% annual interest compounded monthly for 32 months. 5. The doubling time at 8% compounded monthly. Why would the "Rule of 69" help with this calculation? 6. The annually compounded interest rate necessary for $2400 to grow to $2778.30 in three years
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
