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How do I complete these financial math problems? (Please show written work instead of spread sheet) 3. Warren started investing when he was 5 years
How do I complete these financial math problems? (Please show written work instead of spread sheet)
3. Warren started investing when he was 5 years old. He deposited $5 from his allowance at the end of every month into a savings account that earned 5.8%, compounded monthly. He did this until he was 25 years old. a) How much did he invest altogether? What is the current value of his investment at age 25? What is his rate of return? b) Suppose that he had invested the same total amount in regular equal monthly deposits, but had not started until he was 20. What would the current value of his investment be? c) Suppose that Warren had wanted his investment to have the same value as in part a) at age 25, but had started investing when he was 20. What would his monthly payments have been? 4. Both Alex and Jamie have an investment portfolio. a) What is the current value of each portfolio? b) Who has the greater rate of return? Explain. Alex's portfolio: Jamie's portfolio: A 10-year $5000 GIC, purchased A 10-year $3000 bond, purchased 9 years ago, that earns 2.6%, years ago, that earns simple compounded annually interest at 2.7% A 5-year $2000 CSB, purchased A 3-year $700 CSB, purchased that earns 3.1% 3 years ago, that earns 2.8%, compounded semi-annually compounded semi-annually A savings account at 1.4%, A high-interest savings account, at compounded weekly, into which 1.7% compounded monthly, into he has been making weekly which she has been making monthly deposits of $15 for 5 years deposits of $100 for 6 years . 4 years ago
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