Business, 25.02.2020 03:22 CHRONICxDJ
Problem 2.1 (15 points) Andy looks at his account and notices that if the current monthly interest rate stays constant he is expected to have $54,000 in 6 years (i. e. once 6 years have elapsed) and $67,000 in 8 years. (15 points) a. How much money does he have now (at time 0)? (5 points) b. If his predictions are correct, except after 7 years, the nominal rate halves and then stays at that value, how much money will he have in 8 years? Assume the interest rate is compounded monthly. (10 points)
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Problem 2.1 (15 points) Andy looks at his account and notices that if the current monthly interest r...
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