Q. Jayden borrows $10500 from his grandmother for 4 years. Jayden’s grandmother gives Jayden a simple annual interest loan at 4.5% interest. How much will Jayden need to repay grandma in interest? How much in total will Jayden pay?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Use the given spreadsheet formulas for each question below. Write down your calculations and/or what you type into excel to show your work, as well as the final answer. Answer each question with a complete sentence response. No credit will be given if the Excel/sheets syntax is not provided. Round your answer to the nearest cent.

 

Q. Jayden borrows $10500 from his grandmother for 4 years. Jayden’s grandmother gives Jayden a simple annual interest loan at 4.5% interest. How much will Jayden need to repay grandma in interest? How much in total will Jayden pay?

 

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