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Ch3.P151.example 1

Future value of an ordinary annuity

What is the value of an annuity at the end of 20 years if $2,000 is deposited each year into an account earning 8.5% compounded annually? How much of this value is interest?

Ch3.p.128

DEFINTION

Simple interest

I=Prt

Where

p.165

Automobile financing

You have negotiated a price of $25,200 for a new bison pickup truck.

Now you must choose between 0% financing for 48 months or a $3,000 rebate.

If you choose the rebate, you can obtain a loan for the balance at 4.5% compounded monthly for 48 months at your credit union.

教育我思

[教育] What's Your Life's Blueprint?

作者: 迴紋針  日期: 2007-06-06 22:41

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