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ANSWER THE FOLLOWING. THIS IS ONE QUESTION. ANSWER THE FOLLOWING - If you deposit $11,000 in a bank account that pays 3% interest annually, how
ANSWER THE FOLLOWING. THIS IS ONE QUESTION.
ANSWER THE FOLLOWING - If you deposit $11,000 in a bank account that pays 3% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent. - What is the present value of a security that will pay $36,000 in 20 years if securities of equal risk pay 10% annually? Do not round intermediate calculations. Round your answer to the nearest cent. - Your parents will retire in 19 years. They currently have $320,000 saved, and they think they will need $1,900,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. - If you deposit money today in an account that pays 7.5\% annual interest, how long will it take to double your money? Round your answer to two decimal places. - You have $18,390.42 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $240,000. You expect to earn 13% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number. - What's the future value of a 6%,5-year ordinary annuity that pays $200 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the nearest cent. Future Value of an Ordinary Annuity: \$ Future Value of an Annuity Due: \$ - An investment will pay $150 at the end of each of the next 3 years, $250 at the end of Year 4 , $400 at the end of Year 5, and $550 at the end of Year 6. If other investments of equal risk earn 5% annually, what is its present value? Its future value? Do not round intermediate calculations. Round your answers to the nearest cent. Present value: \$ Future value: \$ - You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 8% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: \$ | EAR: \%Step by Step Solution
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