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Three part question You need $82, 288 in 8 years. Required: If you can earn 0.55 percent per month, how much will you have to
Three part question
You need $82, 288 in 8 years. Required: If you can earn 0.55 percent per month, how much will you have to deposit today? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) You have $6, 800 to deposit. Regency Bank offers 6 percent per year compounded monthly (0.50 percent per month), while King Bank offers 6 percent but will only compound annually. Required: How much will your investment be worth in 20 years at each bank? For Regency Bank: For King Bank: Assume a bronze sculpture sold in 2003 at auction for a price of $10, 381, 845. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12, 113, 967. Required: What was his annual rate of return on this sculpture? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places (e.g., 32.16).)Step by Step Solution
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