Highlights
Task:
Rdoslav opened a new account with a $1000 payment, he added to this another $1000 a month ago. He plans to add this account $2000 three months from now. How much money will be in his account a year later? The nominal interest rate is 6%, paid monthly.
Dobromir is buying a car today for $8000. He agreed to pay monthly installments of $400. How long will he be paying off the loan if r = 3%, k = 12.
Jeet was saving for his car $300, every month, for one year. How much money will be in his account one year after the time he stopped to save? r = 8%, k = 12.
My Auntiejee wants to buy a car for $5600. She would like to pay it off in exactly two years. What her monthly payment will be if the interest rate is 5%, paid in monthly.
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