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Answer to Question #156759 in Financial Math for Al
Question #156759
When an investor evaluates a 6-month compound interest of 1.500.000 TL with an interest rate of 15 percent, how much will it be with interest after 4 years?
Expert's answer
Amount"=1,500,000"
semi-annual rate "=15\/2=7.5\\%"
number of periods "=4\\times 2=8"
values in 4 years = "=1,500,000\\times (1+0.075)^{8}=2675216.74"
amount of interest "=2675216-1500000=1,175,216.74"
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A loan of 20000 at a rate of 5% is paid off in one years, compute the revised payment and create payment table.
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