# ) Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit \$1,600 in the bank and leave it there:

I need help with 4 Business Finance questions.

Q1.) Old Time Savings Bank pays 4% interest on its savings accounts. If you deposit \$1,600 in the bank and leave it there: (Do not round intermediate calculations. Round your answers to 2 decimal places.)

a. How much interest will you earn in the first year?

b. How much interest will you earn in the second year?

c. How much interest will you earn in the 10th year?

Q2.) Compute the future value of a \$120 cash flow for the following combinations of rates and times. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

a. r = 8%; t = 10 years

b. r = 8%; t = 20 years

c. r = 4%; t = 10 years

d. r = 4%; t = 20 years

Q3.) In 1880 five aboriginal trackers were each promised the equivalent of 100 Australian dollars for helping to capture the notorious outlaw Ned Kelley. In 1997 the granddaughters of two of the trackers claimed that this reward had not been paid. The prime minister stated that if this was true, the government would be happy to pay the \$100. However, the granddaughters also claimed that they were entitled to compound interest.

a. How much was each granddaughter entitled to if the interest rate was 4%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. How much was each entitled to if the interest rate was 8%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Q4.) In April 2016 a pound of apples cost \$1.54, while oranges cost \$1.18. Three years earlier the price of apples was only \$1.33 a pound and that of oranges was \$1.04 a pound.

a. What was the annual compound rate of growth in the price of apples? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

b. What was the annual compound rate of growth in the price of oranges? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

c. If the same rates of growth persist in the future, what will be the price of apples in 2030? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

d. What about the price of oranges? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.