Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 13 (8 points) Listen Assume Bill Jones invested $4,790.55 into an account exactly one year ago. The account has an interest rate of 9.0

Question 13 (8 points) Listen Assume Bill Jones invested $4,790.55 into an account exactly one year ago. The account has an interest rate of 9.0 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84). Your Answer: Answer Question 14 (8 points) 1) Listen Assume Sheryl Jenkins wants to accumulate $ 12,195.54 in two years. She currently has $10,388.72 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,388.72 today) to have $ 12,195.54 exactly two years from today?(Record your answer as a percent rounded to 1 decimal place; for example, record.527945 = 52.8% as 52.8). Your Answer: Answer
image text in transcribed
Assume Bill Jones invested $4,790.55 into an account exactly one year ago. The account has an interest rate of 9.0% p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84 ). Your Answer: Answer Question 14 (8 points) Assume Sheryl Jenkins wants to accumulate $12,195.54 in two years. She currently has $10,388.72 to invest. What interest rate must she earn on her investment (that is, if she deposits $10,388.72 today) to have $12,195.54 exactly two years from today?(Record your answer as a percent rounded to 1 decimal place; for example, record .527945=52.8% as 52.8 ). Your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Inside Private Equity

Authors: James M. Kocis, James C. Bachman IV, Austin M. Long III, Craig J. Nickels

1st Edition

0470421894, 978-0470421895

More Books

Students also viewed these Finance questions

Question

How could an organization's culture be used as a control mechanism?

Answered: 1 week ago

Question

Describe the nature of negative messages.

Answered: 1 week ago