Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose you invest $12,156 today in an account that earns 01.00% interest annually. How much money will be in your account 6 years from

Suppose you invest $12,156 today in an account that earns 01.00% interest annually. How much money will be in your account 6 years from today? Q2) What is the value today, of single payment of $40,135 made 5 years from today, if the value is discounted at a rate of 07.00%? Q3) How many years would it take an investment of $515 to grow to $7,124 at an annual rate of return of 16.00% ? Q4) How much money would you need to deposit today at 08.00% annual interest compounded monthly to have $10,221 in the account after 13 years? Q5) If you deposit $288 into an account paying 09.00% annual interest compounded quarterly, how many years until there is $83,509 in the account? Q6) If you deposit $90,735 at 18.00% annual interest compounded quarterly, how much money will be in the account after 11 years?

Step by Step Solution

3.44 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

Q1 To calculate the future value of the investment we can use the formula FV PV 1 rn where PV 12156 present value r 001 annual interest rate n 6 numbe... 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_2

Step: 3

blur-text-image_3

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

Financial Management Principles and Applications

Authors: Sheridan Titman, Arthur Keown, John Martin

12th edition

133423824, 978-0133423822

More Books

Students also viewed these Finance questions

Question

9 . 2 5 LAB: Flipping for tails

Answered: 1 week ago