Question
1. You have your choice of two investment accounts. Investment A is a 10-year annuity that features end-of-month $1,525 payments and has an interest rate
1. You have your choice of two investment accounts. Investment A is a 10-year annuity that features end-of-month $1,525 payments and has an interest rate of 7 percent compounded monthly. Investment B is an annually compounded lump-sum investment with an interest rate of 9 percent, also good for 10 years.
1. Youre trying to choose between two different investments, both of which have up-front costs of $45,000. Investment G returns $75,000 in six years. Investment H returns $105,000 in nine years.
1. In 2011, an Action Comics No. 1, featuring the first appearance of Superman, was sold at auction for $2,161,000. The comic book was originally sold in 1938 for $.10. |
Required: |
What was the annual increase in the value of this comic book? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) |
Annual increase | % |
1. In 1895, the first U.S. Open Golf Championship was held. The winners prize money was $150. In 2011, the winners check was $1,440,000.
Requirement 1: |
What was the annual percentage increase in the winners check over this period? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) |
Annual percentage | % |
Requirement 2: |
If the winners prize increases at the same rate, what will it be in 2045? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) |
Prize money | $ |
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