Question
Calculate the number of months it will take $10,000 to grow to $1,000,000 assuming an annual rate of return of 6%, compounded monthly. Today Jim
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Calculate the number of months it will take $10,000 to grow to $1,000,000 assuming an annual rate of return of 6%, compounded monthly.
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Today Jim Jones purchased a new sports car for $80,000. He expects it to decrease in value at a rate of 6% compounded annually for the next 5 years. How much will the car be worth at the end of the 5th year if his expectations are correct.
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Tina, who just turned 18, deposits $20,000 gift into an interest bearing account earning 2% annual rate of interest compounded monthly. How much will she have in the account when she retires at 60 assuming all interest is reinvested at the 2% rate?
Calculate the number of months it will take $10,000 to grow to $1,000,000 assuming an annual rate of return of 6%, compounded monthly.
Today Jim Jones purchased a new sports car for $80,000. He expects it to decrease in value at a rate of 6% compounded annually for the next 5 years. How much will the car be worth at the end of the 5th year if his expectations are correct.
Tina, who just turned 18, deposits $20,000 gift into an interest bearing account earning 2% annual rate of interest compounded monthly. How much will she have in the account when she retires at 60 assuming all interest is reinvested at the 2% rate?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0324422696
