Homework: 1. If you invest 6K at 1.8% compounded monthly for 60 months, what would the value of your investment be at maturity?
2. A car is depreciating at a rate of 3.6 percent yearly. If this rate is compounded quarterly what would the value of a 15,000 car be in 4 years?
3. If a bank offers a CD Special (this would probably NEVER happen) with a rate of 4.8% compounded daily for 3 years, what would the value of your $10,000 investment be at maturity