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correct answers only If you deposit $11,000 in a bank account that pays 12% interest annually, how much will be in your account after 5
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If you deposit $11,000 in a bank account that pays 12% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent. 5 What is the present value of a security that will pay $20,000 in 20 years if securities of equal risk pay 3% annually? Do not round intermediate calculations. Round your answer to the nearest cent. 5 You have $57,528,45 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $240,000. You expect to earn 11% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number. years Find the following values, Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initiai $300 compounded for 10 years at 8%. 5 b. An initial $300 compounded for 10 years at 16% 5 c. The present value of $300 due ln10 years at 8%. 5 d. The present value of $2,120 due in 10 years at 16% and 8%, Present value at 16%:5 Present value ot 8%:5 e. Define present value. 1. The present value is the value today of a sum of money to be recelved in the future and in general is less than the future value, II. The present value is the value today of a sum of money to be recelved in the future and in general is greater than the future value. III. The present value is the value today of a sum of money to be received in the future and in general is equal to the future value. IV. The present value is the value in the future of a sum of money to be recelved today and in general is lest than the future value. V. The present.value is the value in the future of a sum of money to be received today and in general is greater than the future value. Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. $200 per year for 10 years at 10%. 5 b. $100 per year for 5 years at 5%. 5 c. $500 per year for 5 years at 0%. 5 d. Rework previous parts assuming they are annuities due. Present value of $200 per year for 10 years at 10% : $ Present value of $100 per year for 5 years at 5% : $ Present value of $500 per year for 5 years at 005:5 Step by Step Solution
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