Question
16. Assume an account has an APR of 5% with monthly compounding. You plan on making semi-annual withdrawals of $1000 in this security starting 1
16. Assume an account has an APR of 5% with monthly compounding. You plan on making semi-annual withdrawals of $1000 in this security starting 1 year from today and going until 5 years and 6 months from today. What is the amount you must deposit today to make these semiannual withdrawals?
17. Assume an account has an APR of 8% with semiannual compounding. You plan on making quarterly withdrawals of $15000 in this security starting 6 months from today and going until 4 years and 3 months from today. What is the amount you must deposit today to make these quarterly withdrawals?
18. Assume an account has an APR of 4% with daily compounding. You plan on making monthly withdrawals of $2000 in this security starting today and going until 7 months from today. What is the amount you must deposit today to make these monthly withdrawals?
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Originate Motivate Innovate 7 Steps For Building A Billion Dollar Network
Authors: Shelly Omilade Bell, Sonya Renee Taylor
1st Edition
1119900549, 978-1119900542
