Question
6.What will $150,000 grow to be in 15 years if it is invested in an account with a quoted annual interest rate of 10% with
6. What will $150,000 grow to be in 15 years if it is invested in an account with a quoted annual interest rate of 10% with monthly compounding of interest?
7. How many years will it take for $200,000 to grow to be $600,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest?
8. At what quoted annual interest rate must $135,000 be invested so that it will grow to be $460,000 in 15 years if interested is compounded weekly?
9. If you wish to accumulate $500,000 in 20 years, how much must you deposit today in an account that pays a quarterly interest rate of 2%?
10. How many months will it take for $200,000 to grow to be $550,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
