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Please help me with the formulas! :) 6. Suppose you can earn 5% interest compounded semi-annually. How much would you need to invest today January
Please help me with the formulas! :)
6. Suppose you can earn 5% interest compounded semi-annually. How much would you need to invest today January 31,2019 ) in order to have $5,000 on January 31 , 2030? 7. At 5% interest compounded quarterly, what is the present value of $5,000 to be received 11 years from now? 8. At 5% interest compounded monthly, what is the present value of $5,000 to be received 11 years from now? 9. You deposit $100 into an account at the end of each month. This money earns 3% interest annually. What will be the value of your money in 10 years if you want to use it to supplement your income? 10. You deposit $100 into an account at the beginning of each month. This money earns 3% interest annually. What will be the value of your money in 10 years if you want to use it to supplement your incomeStep by Step Solution
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