Question
Question 1 Adam Smith is thinking about investing $500,000 into an account that guarantees 2.5% interest. Calculate the value of the account one year from
Question 1
Adam Smith is thinking about investing $500,000 into an account that guarantees 2.5% interest. Calculate the value of the account one year from now. (Round to 2 decimals)
Question 2
Adam Smith wants to have $65,000 next year. Assuming an interest rate of 8%, how much would he need to deposit today into the account. (Enter a positive value and round to 2 decimals)
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
7th Edition
1259919714, 978-1259919718
