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Present Values Quiz (Year, Rate, Interest)

John House has taken a $150,000 mortgage on his house at an interest rate of 6% per year. If the mortgage calls for thirty equal annual payments, what is the amount of each payment?

The concept of compound interest refers to:

If you invest $100 at 13% APR for three years, how much would you have at the end of 3 years using simple interest?

An investment at 12% nominal rate compounded monthly is equal to an annual rate of:

A 5-year treasury bond with a compound rate of 8% has a face value of $1000. What is the annual interest payment?

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