Q1. The brick has a no payment and no interest policy for 1.5 years on...
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Q1. The brick has a no payment and no interest policy for 1.5 years on all purchases over $1000. Recently, I purchased a sofa, love seat, dining room set and bedroom set for a total purchase of $3855.11. I noted at the time that the rate or interest was 7.42% per year compounded semi-annually. What amount should I have offered to pay them today for my purchase?
Q2. Big Stan has a choice of two different investment options. The first is to invest $14562 at 7% compounded continuously. The second is to invest $15359 at 6% compounded monthly. After 2 years, write down the economic value of the larger amount of the two.
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