Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
The work is done. I just need my answers checked that are highlighted in yellow. Thank you. Question 3 Marti's coin collection contains fifty 1937
The work is done. I just need my answers checked that are highlighted in yellow. Thank you. Question 3 Marti's coin collection contains fifty 1937 silver dollars. Her grandparents purchased them at their face value (550) in 1937. These coins have appreciated by 8.2 percent annually. How much will the collection be worth in 2020? Present value 50.00 Years 83.00 Interest rate 8.20% Future value $34,660.33 Question 4 Five years ago, you invested $1,800. Today it is worth $2,215. What rate of interest did you earn? Please just check answers highlighted in yellow. Years Present value 1,800.00 Interest rate 4.24% Future value $2,215.00 5.00 Question 5 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? Years Present value 400.00 12.65 Interest rate 6.20% Future value $856.00 Question 6 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? # of years Interest rate 8% Deposit 150,000 $ 15 Simple interest per year Total simple interest $ $ 12,000.00 180,000.00 FV with simple interest $ 330,000.00 Compound interest $475,825.37 Difference $145,825.37 Cover Task 1-Financial Planning Task 2 Time value of money Task 3-DCF Task 4 Loan amortization Task 5-Bond
The work is done. I just need my answers checked that are highlighted in yellow. Thank you.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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