100 words per question, APA format with 1 source and in text citations
1. What is the return on an investment that costs $500 today and will return $800 at the end of 4 years?
2. What long will it take a $100 investment to double to $200 if the interest rate is 6%?
3. What is the present value (PV) of a loan that calls for the payment of $500 per year for six years if the discount rate is 10 percent and the first payment will be made one year from now? How would your answer change if the $500 per year occurred for ten years?
4. You are considering borrowing $150,000 to purchase a new home. Calculate the monthly payment needed to amortize an 8 percent fixed-rate 30-year mortgage loan.
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