Problem:
Find the simple interest
1) $4902 at 9.5% for 11 months
Find the amount of interest earned
2) $3954 at 8% compounded annually for 12 years
Find the present value
3) $17,650 in 4 years, 8% compounded quarterly
Find the future value
4) $500 deposited at the end of each 6-month period for 8 years; money earns 6% compounded semiannually
Find the amount of the payment necessary to amortize the loan.
5) $80,000; 8% compounded annually; 9 annual payments