Question
1. Donna would like to attend law school soon. After researching the cost of tuition, she determines that she will need to save $60,000 in
1. Donna would like to attend law school soon. After researching the cost of tuition, she determines that she will need to save $60,000 in 4 years. She decides that she will make weekly deposits into a savings account that earns 2 3/4% interest. How much money will Donna need to deposit each week? Answer is $272.96 how do I get that
2. A mutual fund had annual returns of +7%, +3%, -4%, and +6% in each of the last four years. What was the average rate of return over this period? Answer is 2.91% how do I get that?
3. Zoom Technologies issued a $1,000 par value bond with a 5 1/4% coupon rate. Interest payments will be made semiannually. Suppose of these bonds sells for $915.75. What is the current yield? Answer is 5.73%. How do I get that?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started