Question
Q7) If you deposit $306.00 into an account paying 19.25% annual interest compounded monthly, how many years until there is $16,850.00 in the account? (1.5
Q7) If you deposit $306.00 into an account paying 19.25% annual interest compounded monthly, how many years until there is $16,850.00 in the account? (1.5 points)
Q8) What is the value today of receiving a single payment of $97,924.00 in 4.0 years if your required rate of return on this investment is 12.23% compounded semi-annually? (1.5 points)
Q9) If you deposit $114.00 at 21.36% annual interest compounded daily, how much money will be in the account after 7.0 years? (Assume that there are 364 days in a year and show your answer to the nearest cent) (1.5 points)
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