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1. Raymond would like to accumulate\$475,000 for his retirement in...

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# 1. Raymond would like to accumulate\$475,000 for his retirement in...

1. Raymond would like to accumulate\$475,000 for his retirement in 11years.If he is promised a rate of 4.08% compounded monthly by his local bank,How much should he invest today? 2. Li jun loaned \$67,000 to a small business at 4.24% compounded quarterly for 1year and 6 months . How much would the business have to repay him at the end of the period? 3. An invest of \$13,000 is growing at 4% compounded quarterly? A)Calculate the accumulated amount of this investment at the end of year 1. B) If the interest rate changed to 5% compounded monthly at the end of year 1, calcuta the accumulated amount of this investment at the end of year 3. C. Calculate the total amount of interest earned from this investment during the 3 year period. 4. How much did Speedy Movers borrow for a debt that accumulated to \$57,580.93 four years? The interest rate was 4.86% compounded semi annually? 5. If money earns 7.38% compounded quarterly, what single payment in three years would be equivalent to a payment of \$3,530 due three years ago,but not paid and \$800 today? Please right answers tutor Most of the answers given by other tutors has been wrong ðŸ˜‘ðŸ˜©ðŸ˜©please help !!!

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Answered by saksham_agrawal on coursehero.com
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## Step-by-step explanation

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