Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sarah opened this portfolio when she turned 45. Semi annual deposits of $3000 into an account averaging 3.4% compounded semi-annually . A $25000 bond earning

Sarah opened this portfolio when she turned 45. Semi annual deposits of $3000 into an account averaging 3.4% compounded semi-annually . A $25000 bond earning 7.8% compounded monthly. Based on this information ....... a) What will be the value of the portfolio when she turns 65 Show your work. B)When she turns 65 she cashes in the entire portfolio . she keeps 80,000 to travel around the world for a year and invests the remaining money in an account that pays 7.2% compounded quarterly. How much will the account be worth after 3 years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Global Marketing

Authors: Svend Hollensen

8th Edition

1292251808, 9781292251806

Students also viewed these Finance questions