Question
Suppose you deposit $1,026.00 into an account 5.00 years from today. Exactly 20.00 years from today the account is worth $1,485.00. What was the account's
Suppose you deposit $1,026.00 into an account 5.00 years from today. Exactly 20.00 years from today the account is worth $1,485.00. What was the account's interest rate?
Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243))
Suppose you deposit $1,061.00 into an account 4.00 years from today that earns 10.00%. It will be worth $1,699.00 _____ years from today.
Answer format: Number: Round to: 2 decimal places.
Assume the real rate of interest is 4.00% and the inflation rate is 6.00%. What is the value today of receiving 12,993.00 in 10.00 years?
Answer format: Number: Round to: 2 decimal places.
Could really use the help! please show all steps (not excel) for better understanding :) Thank You!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started