Question
12) You invest $ 4,330 in an account today. You make no additional deposits into the account. One year from today there is $ 5,266
12) You invest $ 4,330 in an account today. You make no additional deposits into the account. One year from today there is $ 5,266 in the account. What is the nominal interest rate that you earned on your money? (Record your answer as a percent rounded to 1 decimal place; for example, record .527945 = 52.8% as 52.8). 11)Your account pays interest at 4 percent p.a.. You deposit $ 18,035 in it today. You must have exactly $ 56,375 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to ensure this? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). 10)You deposit $ 78,571 in your account today. You make another deposit at t = 1 of $ 53,168 . How much will there be in your account at the end of year 2 if the interest rate is 6 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
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