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...
mary is 25 years old and intends to retire at 65. She begins to calculate how much she needs in her pension fund. She bases all her calculations on a 4% annual growth rate. Mary wants to receive a...
Suppose you are going to need $20,000 in 5 years. If you can get an average of 7.5% APR compounded weekly over that time, how much would you need to deposit now in order to meet your goal? ...
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.
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%...
I did use the formula FV=P(1+r/m)∧mt but I got the wrong answer.
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...
To get $600 after 3 years at 10% compounded monthly. The present value of $600 is $__?
$10 invested at 12% compounded continuously after a period of 4 years. After 4 years, the investment results in $__?
$600 invested at 3% compounded daily after a period of 3 years. After 3 years, the investment results in $__?
$700 invested at 2% compounded quarterly after a period of 3 1/2 years. After 3 1/2 years, the investment results in $__?
$100 invested at 3% compounded quarterly after a period of 4 years. After 4 years, the investment results in $__ (Round to the nearest cent.
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...
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...
Ricardo takes out a loan from Enrique. It is agreed that Ricardo will pay back the loan in two payments, $3154 after 2 years and $2397 after 6 years. Ricardo decides he wants to renegotiate the payment...
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