you hope to borrow $450,000 at 7% interest per annum compounded quarterly. You will repay the loan in one payment at the end of
1 answer:
You might be interested in
Answer:
The amount after a time period of 5 years is $287.5.
Step-by-step explanation:
Principal Amount deposited = $250
Time = 5 Years
Rate of interest = 3%
Now, SIMPLE INTEREST =
⇒
or, the interest amount after 5 years = $37.5
Now, AMOUNT = PRINCIPAL + INTEREST
= $250 + $37.5 = $287.5
Hence the amount after a time period of 5 years is $287.5.
Answer:
Greater:
Step-by-step explanation:
1/3 is greater than 1/4
Hope this helps