Interest, annuity, compound, amortization
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Please see attached file.I am looking for help in significantly discussing these problems in detail ( each response over 100 words long please), and finding a reasonable solution.
What is amortization and how do you find the amortization schedule? How can you use your new found understanding of amortization to make better financial decisions in your personal or business life?
What is the difference between an ordinary annuity and an annuity due? If you were trying to save up for a big purchase in 5 years and your interest was compounded monthly which one would you prefer to do and why?
What is the difference between an annuity and a sinking fund? If you were to set up an annuity today to purchase something in 7 years what would it be for? If you were getting 6% compounded annually what would your payments need to be to reach your goal? What type of payments would you want to make (monthly, quarterly, yearly, etc) and why?
What is the difference between simple and compound interest? What is an example of when you would want compound interest applied to a dollar amount and why? What is an example of when you would want simple interest applied to a dollar amount and why?
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Solution Summary
The solution explains some details about amortization, annuity, simple and compound interest
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