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7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What...
7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What...
7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What is the effective annual interest earned on the account? Round your answer to the nearest tenth of a percent. For example, if you get 15.1 %, write 0.151. If you deposit $29,484 in an account that earns 9% per year, compounded annually. What would be the balance in the account at the end of 38 years?
7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What...
7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What is the effective annual interest earned on the account? Round your answer to the nearest tenth of a percent. For example, if you get 15.1 %, write 0.151.
Ten years ago, you put $150,000 into an interest-earning account. Today it is worth $325,000. What...
Ten years ago, you put $150,000 into an interest-earning account. Today it is worth $325,000. What is the effective annual interest earned on the account, assuming yearly compounding? (A) $75,000 (B) 6.00% (C) 7.8% (D) 8.00%
If you deposit $29,484 in an account that earns 9% per year, compounded annually. What would...
If you deposit $29,484 in an account that earns 9% per year, compounded annually. What would be the balance in the account at the end of 38 years?
Your friend just won the lottery. He has a choice of receiving $122,788 a year for...
Your friend just won the lottery. He has a choice of receiving $122,788 a year for the next 18 years or a lump sum today. The lottery uses a 8% discount rate. What would be the lump sum your friend would receive?
39. You bought a painting 10 years ago as an investment. You originally paid for $484,050,...
39. You bought a painting 10 years ago as an investment. You originally paid for $484,050, what was your annual return on investment? A) 47% B) 47% C) 1996 D) 12.8% Answer: $85,000 for it. If you sold it 40. What is the present value of S12.500 to be received 10 years from today? Assume a discount rate of 8% compounded annually and round to the nearest $10. A) $5,790 B) $11,574 C) $9,210 D) $17,010 Answer il. You wish...
1. You have $200 to invest. If you put the money into an account earning 4%...
1. You have $200 to invest. If you put the money into an account earning 4% interest compounded annually, how much money will you have in 10 years? How much money will you have in 10 years if the account pays 4% simple interest? 2. You have $1,300 to invest today at 5% interest compounded annually. a. Find how much you will have accumulated in the account at the end of (1) 6 years, (2) 12 years, and (3)...
How much interest is earned in an account by the end of 5 years if $30,000...
How much interest is earned in an account by the end of 5 years if $30,000 is deposited and interest is 4% per year, compounded semi-annually? What is the balance in an account at the end of 10 years if $6,500 is deposited today and the account earns 3% interest compounded annually? If you wish to accumulate $50,000 in 10 years, how much must you deposit today in an account that pays annual interest rate of 8%, with semi-annual compounding...
PLEASE help with question 17 and 18... 17-if you win the lottery, and the prize is...
PLEASE help with question 17 and 18...
17-if you win the lottery, and the prize is $50,000 a year for the next 15 years, what lump sum amount would you accept today, assuming 5% interest? 18-you deposit $8000 into a bank account today and earn 6% interest for 5 years, compounded semi annually. What will you have at the end?
1. Seven years ago, you put $500 in a bank account earning 6%/year. What is the...
1. Seven years ago, you put $500 in a bank account earning 6%/year. What is the bank account balance today? 2. You want to double your money in 5 years. What rate of return do your need to earn? 3. At 4% per year, how long does it take for $500 to grow to $750? 4. What is the present value of an annuity due that pays $1000 per month for two years if the interest rate is 6%/year compounded...
7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What is the effective annual interest earned on the account? Round your answer to the nearest tenth of a percent. For example, if you get 15.1 %, write 0.151. If you deposit $29,484 in an account that earns 9% per year, compounded annually. What would be the balance in the account at the end of 38 years?
7 years ago, you put $166,308 into an interest-earning account. Today it is worth $255,924. What is the effective annual interest earned on the account? Round your answer to the nearest tenth of a percent. For example, if you get 15.1 %, write 0.151.
Ten years ago, you put $150,000 into an interest-earning account. Today it is worth $325,000. What is the effective annual interest earned on the account, assuming yearly compounding? (A) $75,000 (B) 6.00% (C) 7.8% (D) 8.00%
If you deposit $29,484 in an account that earns 9% per year, compounded annually. What would be the balance in the account at the end of 38 years?
Your friend just won the lottery. He has a choice of receiving $122,788 a year for the next 18 years or a lump sum today. The lottery uses a 8% discount rate. What would be the lump sum your friend would receive?
39. You bought a painting 10 years ago as an investment. You originally paid for $484,050, what was your annual return on investment? A) 47% B) 47% C) 1996 D) 12.8% Answer: $85,000 for it. If you sold it 40. What is the present value of S12.500 to be received 10 years from today? Assume a discount rate of 8% compounded annually and round to the nearest $10. A) $5,790 B) $11,574 C) $9,210 D) $17,010 Answer il. You wish...
PLEASE help with question 17 and 18...
17-if you win the lottery, and the prize is $50,000 a year for the next 15 years, what lump sum amount would you accept today, assuming 5% interest? 18-you deposit $8000 into a bank account today and earn 6% interest for 5 years, compounded semi annually. What will you have at the end?
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