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How much was last payment
Reference no: EM132761949
1. Mrs. Garcia borrowed 25,000 to start a market stall, at 14% simple interest. If she paid 10,000 every six month.
A. How many times did she pay
B. How much was her last payment?
C. How much did she pay?
2. What principal must be deposited in a 4.5% saving account compounded monthly in order to have a total of 10,000 after 8 years?
3. What interest rate, compounded annually, is needed for a principal of 4,000 to increase to 4,500 in 10 years?