Unformatted text preview: c. Annual deposits totaling $75,000 are made into an account for each of three years. One year later $235,000 is withdrawn from the account. 2. Keisha borrows $85,000 at an interest rate of 4.5% per year. The loan will be repaid as a lump sum at the end of 5 years. Create a table defining the amount of interest charged each year and the total amount owed at the end of each year. Assume the terms of the loan call for simple interest. 3. Repeat the previous problem assuming compound interest....
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- Fall '08
- Income Statement, $75,000, $50,000, $500, $25,000, $85,000