Week 4 discussion problem # 1 1. How long will it take to double your money in an account paying 9%, compounded every other month? Round your answer to the nearest year and day...
Week 4 discussion problem # 1 1. How long will it take to double your money in an account paying 9%, compounded every other month? Round your answer to the nearest year and day...
please show me step by step on how to solve it
Hannah would like to make an investment that will turn 6000 dollars into 25000 dollars in 8 years. What quarterly rate of interest, compounded four times per year, must she receive to reach her goal...
Holly Krech is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1100 per month for twenty years. How much money must she deposit...
Use the present value formula to determine the amount to be invested now, or the present value needed.
I did use the formula FV=P(1+r/m)∧mt but I got the wrong answer.
A financial agreement requires the payment of $1200 in 9 months, $1400 in 18 months, and $1600 in 30 months. When would an alternative single payment of $4000 have to be made if money is worth 7%...
The bank offers you a 6% continuously compounding interest rate. If the bank offers you an equivalent interest rate compounded quarterly, what will that interest rate be (use 3 significant figures...
If Tanisha has ?$1,000 to invest at 8?% per annum compounded quarterly ?, how long will it be before she has ?$2,050?? If the compounding is? continuous, how long will it? be? Compounding...
$100 invested at 3% compounded quarterly after a period of 4 years. After 4 years, the investment results in $__ (Round to the nearest cent.
$700 invested at 2% compounded quarterly after a period of 3 1/2 years. After 3 1/2 years, the investment results in $__?
$600 invested at 3% compounded daily after a period of 3 years. After 3 years, the investment results in $__?
$10 invested at 12% compounded continuously after a period of 4 years. After 4 years, the investment results in $__?
To get $600 after 3 years at 10% compounded monthly. The present value of $600 is $__?
Alice keeps meaning to invest more in her RRSP. Her original plan was to invest $6000 eight months ago and an additional $7000 in four months. Unfortunately due to unforseen circumstances, she was...
Maximus invests a sum of money in a bank account which earns 2%, and increases by 1% every 6 months. The interest is compounded monthly. He pulls out $4300 out of his account after 21 months. How...
Maximus invests a sum of money in a bank account which earns 2%, and increases by 1% every 6 months. The interest is compounded monthly. He pulls out $4300 out of his account after 21 months. How...
One year ago, Paul divided an investment of $42000 into two equal amounts placed in separate accounts. Both accounts have a nominal rate of interest of 8%. The first account is compounded quarterly,...
Big Stan has a choice of two different investment options. The first is to invest $13354 at 7% compounded continuously. The second is to invest $17217 at 7% compounded monthly. After 1 years, write...
my calculator keeps giving me the answer in scientific notation and that is no correct. i know how to do the problem but for some reason i cannot get the right answer.