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1). Mateo deposits $5,000 at the end of years 2, 4 and 6. If interest is 8.2% compounded annually, determine the value at the end
1). Mateo deposits $5,000 at the end of years 2, 4 and 6. If interest is 8.2% compounded annually, determine the value at the end of year 6.
Hint:Money at the end of year 2 meansthe sameas the beginning of year 3. $5000 should be on the year three mark of the timeline
2). What amount 2 years from now is equivalent to $1000 today if money can earn 4.9% compounded quarterly?
3). What is the maturity value of a $14,000 GIC invested at 5.65% compounded quarterly for 7 years?
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