The state of Tennessee introduces a tax on movie tickets of 50 cents to be paid by theatre owners. Following the tax, the price of a movie ticket…
September 3, 2020
ting the future value of an annuity) If you invest $100 a year for 20 years at 7% annual interest, how much will you have at the end of the 20th year?…
September 3, 2020

(Calculating the rate of return) A friend promises to pay you $600 two years from now if you loan him $500 today. What interest rate is your friend offering you?

As the method of interest (rate of return) computation is not mentioned in the problem,we shall calculate interest by both:•• Simple Interest method, and;Compound Interest method….

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