Question
1, Julia Willis will invest $32,300 today. She needs $390,840 in 22 years. Click here to view factor tables What annual interest rate must she
1, Julia Willis will invest $32,300 today. She needs $390,840 in 22 years. Click here to view factor tables What annual interest rate must she earn? (Round answer to 0 decimal places, e.g. 7%.)
2, Alan Newman will invest $10,610 today in a fund that earns 8% annual interest. Click here to view factor tables How many years will it take for the fund to grow to $24,739?
3, Stacy Medavoy will invest $6,420 a year for 24 years in a fund that will earn 5% annual interest. Click here to view factor tables If the first payment into the fund occurs today, what amount will be in the fund in 24 years? If the first payment occurs at year-end, what amount will be in the fund in 24 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
First payment today:
First payment at year-end : |
---|
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