Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help with this homework ASAP. This is for a managerial finance course. Question 1 (2 points) If you invest $112,000 today at 10%
I need help with this homework ASAP. This is for a managerial finance course.
Question 1 (2 points) If you invest $112,000 today at 10% interest for 8 years, you will have $_________ in 8 years. (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16)) Your Answer: Question 1 options: Answer Save Question 2 (2 points) Suppose your uncle invested $120,000 in an investment 4 years ago. The investment is worth now $237,500. The annual interest rate (rate of return) on the investment during this period must be ______% per year. (Do not include the percent signs (%). Round your answers to 2 decimal places. (e.g., 32.16)) Your Answer: Question 2 options: Answer Save Question 3 (2 points) You're saving to buy a new truck that costs $35,000. You have $26,000 today that can be invested at your bank. The bank pays 4.6 percent annual interest on its accounts. It will be ______ years before you have enough to buy the truck.(Round your answer to 2 decimal places. (e.g., 32.16)) Your Answer: Question 3 options: Answer Save Question 4 (2 points) At 19.8 percent interest, it would take ______ years to double your money. (Round your answer to 2 decimal places. (e.g., 32.16)) Your Answer: Question 4 options: Answer Save Question 5 (2 points) What is the present value of a lump sum, $272,000 in 7 years if the interest rate (discount rate) is 9.1 percent annually? (Round your answer to 2 decimal places. (e.g., 123,345.16)) YourStep 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