Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 . If you deposited $ 2 , 0 0 0 today in an account that gave you 5 % APR compounded interest, how much

1. If you deposited $2,000 today in an account that gave you 5% APR compounded interest, how much would you have in 10 years?(show work)2.Suppose you want $5,000 in your bank account when you graduate in four years, how much would you have to invest today at 7% APR to get it?(show work)3.If you have a bank account with a balance of $200 how long would it take you to have a balance of $400 if the bank gave you 8% APR? (show work)4. What is the present value of $800 dollars received at the end of the next 8 years at a discount rate of 15%?(show work)5. If an investment is paying 12% annual for the next 7 years, how much would you have if you invest $700 annually? (show work)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business And Personal Finance

Authors: McGraw-Hill

1st Edition

0078945801, 9780078945809

More Books

Students also viewed these Finance questions

Question

=+a) Was this an observational study or an experiment?

Answered: 1 week ago