Question
Problem 14 Mohamed deposited 2,500 in an account that pays 6% simple interest. How much money will he have at the end of 3 years?
Problem 14
Mohamed deposited 2,500 in an account that pays 6% simple interest. How much money will he have at the end of 3 years?
The answer is:
Problem 15
What is the future value of 26 invested for 32 years at an average rate of return of 7%?
The answer is:
If interest is compounded quarterly, how much will you have in a bank account?
The answer is:
(a) If you deposit today. 8,000 at the end of 3 months, if the bank pays 5.0% APR?
The answer is:
(b) If you deposit today. 10,000 at the end of 6 months, if the bank pays 9.0% APR?
The answer is:
(c) If you deposit today. 80,000 at the end of 12 months, if the bank pays 8.0% APR?
The answer is:
(d) If you deposit today 5,000 at the end of 24 months, if the bank pays 5.0% APR and compound monthly?
The answer is:
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Financial Markets And Institutions
Authors: Stanley Eakins Frederic Mishkin
9th Global Edition
1292215003, 978-1292215006
