Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can you show your work on all calculations please 7. Olivia invests $6,000 in an account at the beginning of each year for 6 years.
can you show your work on all calculations please
7. Olivia invests $6,000 in an account at the beginning of each year for 6 years. If she earns 12% per year on her investment, what is the equivalent present value of her investment? 8. If Emily makes a one-time deposit of $400 at 12% compounded quarterly for 8 years. What is the value of her investment in 8 years? 9. Approximate the following: a. If land in an area is increasing 6% a year, how long will it take for property values to double? b. If you invest your money for 5 years, at what rate must you invest to double your money? 10. If Allie purchases a car for $35,000 and pays $4,000 down and the balance in 24 monthly payments, what will her payments be if the lender requires 7.2% compounded monthly? 11. If Kelley had deposited $8,000 at 9% compounded semiannually and it grew to $46,530.92, how long was it on deposit? 12. Seven years from today, Stephanie plans to take a European vacation that will cost $12,000. She consults you, her banker, about methods of providing for the trip. Among your many plans, you explain to her that she can deposit a single amount today and allow it to collect interest for seven years so that the account equals $12,000 at the end of the seven years. Assuming that your bank pays 6% interest rate compounded semiannually, how much must Stephanie deposit nowStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started