Question
1. Today you deposited $3000in an account with s stated annual rate of 14% and semi-annual compounding. If you don't withdraw any funds from the
1. Today you deposited $3000in an account with s stated annual rate of 14% and semi-annual compounding. If you don't withdraw any funds from the account, what will the balance be six years from today?
2. You will need $14000 fours years from today. You have a mutual fund that earns 9% compounded annually. How much money should you deposit in your mutual fund today, in order to ensure that you will have the needed funds?
3. You just bought a house for 30 equal annual payments of $7000. The interest rate on your loan is 10%. The first payment will be made today. what was the cash price of the house?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
