Author Question: Carol can borrow $13 000 from her friend Eric to buy a car. He is willing to lend her the money at ... (Read 526 times)

olivia_rose · **on:** Oct 12, 2022

Question 1

How much would you have to deposit today in a bank account paying 8% annual interest to allow you to withdraw $200, 5 years from now?
◦ $184.17
◦ $293.80
◦ $136.12
◦ $142.57
◦ $185.19

Question 2

Carol can borrow $13 000 from her friend Eric to buy a car. He is willing to lend her the money at 7% annual interest for a period of five years. If Carol accepts Eric's offer, he can expect a lump-sum repayment in five years of approximately
◦ $15 239.
◦ $18 233.
◦ $19 097.
◦ $17 837.
◦ $13 544.

Yermi196 · **Reply #1 on:** Oct 12, 2022

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