Calculating: present value, investments with interest compounded quarterly, monthly payment on mortgage, interest rate and expected value of investment
1. Find the present value of $2000 to be received 2 years from now discounted at 3% semiannually.
2. How many years will it take to triple your money in an investment that pays 7% interest compounded quarterly?
3. What is the monthly payment on a $150,000, 30-year mortgage at a 6.5% interest rate?
4. If you borrow $2000 and pay back $2600 in 5 years, what annual interest rate are you paying?
5. If you invest $12,000 at an expected return of 4% compounded quarterly, what be the value of your investment in 6 years?
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