Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nineteen years ago your parents deposited an amount in your saving account, today the balance of this account is $ 2 6 0 , 0

Nineteen years ago your parents deposited an amount in your saving account, today the balance of this account is $260,000. If the account has been earning 6% compounded annually, how much did your parents initially deposited? (2 points)
Nineteen years ago your parents deposited an amount in your saving account eanring 6% annually, today the balance of this account is $260,000. If the account is expected to continue earning 6% annually, what will the balance be in 7 years? (3 points)
Nineteen years ago your parents deposited an amount in your saving account, today the balance of this account is $260,000. If the account has been earning 6% compounded monthly, how much did your parents initially deposited? (3 points)
Nineteen years ago your parents deposited an amount in your saving account, today the balance of this account is $260,000. If the account has been earning 6% compounded continuously, how much did your parents initially deposited?(3 points)
Nineteen years ago your deposited $150,000 in your saving account, today the balance of this account is $260,000. Calculate the annual rate of return you earned on this account. (3 points)
How long will it take you to tripple your investment if you can earn 5% annual return with quarterly compounding? (3 points)
What is the rate of return are you earning on an investment that will double in 15 years with daily compounding? (3 points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Electronic Waste An Actual Gold And Silver Mine

Authors: Antonio Alcivar

1st Edition

979-8367641059

More Books

Students also viewed these Finance questions

Question

=+ a. What happens to the labor demand curve?

Answered: 1 week ago

Question

What would a horizontal trend tell you about a firms performance?

Answered: 1 week ago