Solution 1a:
Amount to be withdrawn = Investment + Interest = $53,400 + $53,400*8%*8 = $87,576
Solution 1b:
Future value = $53,400 * (1+0.08) ^ 8 = $53,400 * 1.85093 = $98,840
Solution 1c:
Semiannual interest rate = 8%/2 = 4%
Nos of semiannual periods = 8*2 = 16
Future value = $53,400 * (1+0.04)^16
= $53,400 * 1.87298 = $100,017
Solution 2a:
Future value = $23,800
Amount to be invested = $23,800 / (1+0.12)^5 = $23,800 / 1.76234 = $13,505
Solution 2b:
Future value = $23,800
Quarterly interest rate = 12%/4 - 3%
Nos of quarterly periods = 5*4 = 20
Amount to be invested = $23,800 / (1+0.03)^20
= $23,800 / 1.80611
= $13,177
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing...
Exercise 6-2 Leon Jackson invests $44,300 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Leon withdraws the accumulated amount of money. Compute the amount Leon would withdraw assuming the investment earns simple interest. (Round answers to 0 decimal places, e.g. 458,581.) Total withdrawn $enter total withdrawn in dollars rounded to 0 decimal places LINK TO TEXT LINK TO TEXT LINK TO VIDEO Click here...
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if you could solve and show work with financial calculator please! Henry Jackson invests $58,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Henry withdraws the accumulated amount of money. Compute the amount Henry would withdraw assuming the investment earns simple interest. (Round answers to O decimal places, e.g. 458,581.) Total withdrawns LINK TO TEXT LINK TO TEXT LINK TO VIDEO Click here to...
If you could show inputs for financial calculator please! CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 6-2 Henry Jackson invests $58,700 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Henry withdraws the accumulated amount of money. Compute the amount Henry would withdraw assuming the investment earns simple interest. (Round answers to O decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO...
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