compound interest homework anyone can help

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compound interest homework anyone can help

Compound  interest   

 

  1)  a.    With  an  annual   interest  rate  of  12  %   tell ,  what  is  the  amount  to  pay  in  1  year   if  the      principal    is  $1,000.00  and   is  computed  monthly  ?

     b.    What  is  the  amount  to  pay    in   10  years   if  the   annual   interest  rate  is 24%  and   is  computed        annually ?

 

  2)  The  credit  card  of  a  consumer  pay  an   annual    rate   of   26%    that  is  computed  daily  for  advances    or    purchases .  If  this  consumer  bought  a  television  for  $999.00  and  he  took  1  year   in  pay  the  bill ,   tell   What  is  the  total  payment   to  pay  off  his  card ? 

 

 3) If  a  creditor  has  the  choice  to  pay  a  debt   with   interest  of  $,3000.00  in  4  years  with  an interest   rate   of     8%   computed  annually   or  with  an  interest  rate  of  7.8%  computed   semiannual ,  which  one  you   would  choose  that  pays  less  ?

 We  use  this  formula  to   do  it :

 

 S =  P  (1+ r) n

 

 

 

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