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Please help me with the formulas :) 1. Suppose you invest $2,500 on January 31, 2019, earning 5% APR compounded annually. How much will you
Please help me with the formulas :)
1. Suppose you invest $2,500 on January 31, 2019, earning 5% APR compounded annually. How much will you have on January 31, 2025? 2. Suppose you invest $2,500 on January 31, 2019, earning 5\% APR compounded semi-annually. How much will you have on January 31, 2025 ? 3. At 5% APR compounded quarterly, what will $2,500 grow to in 6 years? 4. At 5% APR compounded monthly, what will $2,500 grow to in 6 years? 5. Suppose you can earn 5% interest compounded annually. How much would you need to invest today (assume it's January 31, 2019) in order to have $5,000 on January 31, 2030Step by Step Solution
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