Question
Questions: 1. Marti's coin collection contains twenty 1937 silver dollars. Her grandparents purchased them at face value ($50) in 1937. These coins have appreciated by
Questions:
1. Marti's coin collection contains twenty 1937 silver dollars. Her grandparents purchased them at face value ($50) in 1937. These coins have appreciated by 8 percent annually. How much will the collection be worth in 2020?
Present value | Years | Interest rate | Future value | ||
2. Five years ago, you invested $1,800. Today it is worth $2,215. What rate of interest did you earn?
Present value | Years | Interest rate | Future value | |
3. On your tenth birthday, you received $400 which you invested at 6.2 percent interest, compounded annually. Your investment is now worth $856. How old are you today?
Present value | Years | Interest rate | Future value | ||
4. How much more money would you make on investments that pays interest compounded annually and that pays simple interest , given the 8% interest rate, $150,000 deposit amount and 15 years?
Interest rate | Deposit | # of years |
Simple interest per year | |
Total simple interest | |
FV with simple interest | |
Compound interest | |
Difference |
If you could do all 4 that would be really appreciated! I will make sure to thumbs you up. Thanks
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