Twenty years ago the population of a village in Newfoundland was 964. Now it is 612. At what average annual rate has the population of the village declined over the last 20 years?
Albert Greco paid $1,974 for a $10,000 strip bond 16 years before it reached maturity. What semi-annually compounded nominal rate will Albert earn on his investment?
Sollozo just made a single payment to repay a loan he had with the Corleone Finance Company. He paid a total of $86,500 which included interest of $56,500 at 48% compounded monthly. How long ago was the money borrowed?
A $50,000 strip bond was discounted to $21,680. The market rate was 7.4% compounded semi-annually. How much time was left before the bond reached maturity?
Maury invested $5,000 in a selection of high-tech stocks. After six years of careful trading, his investments were worth $79,700. At what quarterly compounded nominal rate did his investments grow?
The Wilsons bought their home 16 years ago for $128,000. Its value now is $141,000. At what annual rate has the value of their home appreciated since they bought it?
What is the term of a compound-interest Guaranteed Investment Certificate if $8,500 invested at 6.1% compounded annually will earn interest totaling $4,365.50?