Question
HELP ! SOLUTIONS NEEDED ASAP Fifteen years ago, your parents opened an investment account with an initial deposit of $5,000.Today, that account is worth $38,563.What
HELP ! SOLUTIONS NEEDED ASAP
- Fifteen years ago, your parents opened an investment account with an initial deposit of $5,000.Today, that account is worth $38,563.What average annual rate of return did they earn on their investment?
- 1.14.47%
- 2.14.59%
- 3.14.78%
- 4.15.03%
A 6.5% annual coupon bond has a face value of $1,000, a market value of $1,120.16, and a yield-to-maturity of 5%.How many years is it until the bond matures?
- 1.10.37 years
- 2.10.49 years
- 3.10.51 years
- 4.14.39 years
You currently have $8,300 in your investment account.You can earn an average rate of return of 10.9% per year.How long will you have to wait unil your account is worth $35,000?
- 1.9.47 years
- 2.11.28 years
- 3.13.91 years
- 4.17.51 years
Suzie has $15,000 in her investment account today.She saves $300 a month and earns 8% interest compounded monthly.How much money will she have in her account three years from now?
- 1.$31,214.22
- 2.$29,356.84
- 3.$27,254.36
- 4.$26,997.91
The Corner Bank is offering you a credit card with an APR of 13.3%.The bank compounds the interest rate on a monthly basis. What is the effective annual rate?
- 1.13.69%
- 2.13.87%
- 3.14.03%
- 4.14.14%
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