Question
When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO
When inputting an answer, round your answer to the nearest 2 decimal places. If you need to use a calculated number for further calculations, DO NOT round until after all calculations have been completed. For the final answer, Round to 2 decimal places.
1. If you deposit $78,819 at 18.86% annual interest compounded quarterly, how much money will be in the account after 20 years?
2. If you deposit $1,287 into an account paying 14.39% annual interest compounded monthly, how many years until there is $30,156 in the account?
3.
What is the value today of receiving a single payment of $66,090 in 6 years if your required rate of return on this investment is 18.57% compounded semi-annually?
4. If you deposit $680 at 16.4% annual interest compounded daily, how much money will be in the account after 4 years? (Assume that there are 364 days in a year)
5. Suppose you deposit $911 today, $343 in one year, and $361 in two years in an account that pays an annual rate of interest of 16.23%. How much money will be in the account after three years?
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