Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

#2 Suppose you need to have $54,737.00 in an account 17.00 years from today and that the account pays 9.00%. How much do you have

image text in transcribed
#2 Suppose you need to have $54,737.00 in an account 17.00 years from today and that the account pays 9.00%. How much do you have to deposit into the account 7.00 years from today? Submit Answer format: Currency: Round to: 2 decimal places. C unanswered not_submitted Attempts Remaining: 5 #3 Suppose you deposit $1,063.00 into an account 5.00 years from today. Exactly 16.00 years from today the account is worth $1,728.00. What was the account's interest rate? Submit Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243))

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance And Financial Markets

Authors: Keith Pilbeam

3rd Edition

023023321X, 978-0230233218

More Books

Students also viewed these Finance questions

Question

What is meant by 'Wealth Maximization ' ?

Answered: 1 week ago

Question

explain what is meant by redundancy

Answered: 1 week ago