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How much money must you deposit in the bank today to make five end-of-year annual withdrawals of $500? The bank pays 7% interest on your
- How much money must you deposit in the bank today to make five end-of-year annual withdrawals of $500? The bank pays 7% interest on your account.
- How much would you be willing to pay for an investment which paid you $100 at the end of each year for seven years? Assume you can earn 12% a year on other types of investments.
- How much is $100 worth two years from now with quarterly compounding at a stated 12% rate.
- You deposit $50 in the bank today and three years later you have $61.25 in the bank. What annual rate of interest did the bank pay you over the three-year period?
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