Determine the amount due on the compound interest, Financial Management

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Determine the amount due on the compound interest

1. How much should be invested now at 5.5% simple interest if $8103 is needed in 2 years?

2. Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.)

$13,000 at 4% for 10 years if the interest is compounded in the following ways.

(a) annually

(b) quarterly

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Financial Management: Determine the amount due on the compound interest

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Financial Management: Determine the amount due on the compound interest

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