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Please reply with screenshot if possible, thank you Suppose you invest $385 at the end of each of the next eight years. (a) If your
Please reply with screenshot if possible, thank you
Suppose you invest $385 at the end of each of the next eight years. (a) If your opportunity cost rate is 7 percent compounded annually, how much will your investment be worth after the last $385 payment is made? (b) What will be the ending amount if the payments are made at the beginning of each year? 9. At the end of each of the past 14 years, Lisa deposited S450 in an account that earned 8 percent compounded annually. (a) How much is in the account today? (b) How much would be in the account if the deposits were made at the beginning each year rather than at the end of each year? 10. Suppose your opportunity cost rate is 11 percent compounded annually. (a) How much must you deposit in an account today if you want to pay yourself $230 at the end of each of the next 15 years? (b) How much must you deposit if you want to pay yourself $230 at the beginning of each of the next 15 years? 11. Compute the amount Debra must deposit in an account today so that she can pay herself $450 per month for the next nine years if her opportunity cost rate is 8.4 percent compounded monthl How much must Debra deposit today if she wants to pay herself at the beginning of each month? 12Step by Step Solution
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