of 4 years?
b.) 8 years
2006-12-10 07:45:10 · 5 answers · asked by jere 1 in Business & Finance ➔ Investing
Convert the term from years to quarters. The new interest rate is 14%/4 = 3.5%.
a) 4 years = 16 quarters
$4,000 * 1.035^16 = $6,936
b) 8 years = 32 quarters
$4,000 * 1.035^32 = $12,027
2006-12-10 07:51:38 · answer #1 · answered by Edward M 2 · 0⤊ 0⤋
Type in wolfram alpha loan 5000, 11% and the rest is solvable
2016-05-23 02:40:22 · answer #2 · answered by Rebecca 4 · 0⤊ 0⤋
4 yrs =$2240+ $4000= $6240
8yrs = $4480 +$4000= $8480
2006-12-10 08:24:14 · answer #3 · answered by boy_jam_arch 6 · 0⤊ 1⤋
you should buy a financial calculator. Hewlet Packard makes the best and it is called the 10 b 2. you can put all your information into it using function buttons and when you hit fv or future value it will tell you the answer. i have one and can do the equation for you but you should learn to do it your self.
2006-12-10 07:55:08 · answer #4 · answered by jlo003 2 · 0⤊ 1⤋
Do your own homework.
2006-12-10 07:48:42 · answer #5 · answered by wineboy 5 · 0⤊ 0⤋