Hi there, please help if possible. I am past frustrated :)
Philip wants to supplement his pension by $475 per month with income from his investments. His investments pay him monthly and earn 9 ½ % p.a. What value of investments must Philip have in his portfolio to generate enough interest to give him his desired income?
Bunny's Antiques received $90.00 interest on a 185-day term deposit of $3,240. At what rate of interest was the term deposit invested?
Krista borrowed $12,468. The loan is to be repaid by three equal payments due in 94, 194, and 265 days from now respectively. Determine the size of the equal payments at an interest rate of 9% with a focal date of today.
(1) Philip must have in his portfolio $ 60000... View the full answer