You have $11,500 and will invest the money at an interest rate of .34 percent per...
You expect to receive $17,000 from your godmother at graduation in two years. You plan to invest the gift in the Transylvanian Bank & Loan which pays 10 percent annually on deposits. You'll leave your money in the bank until you have $92,000. How long will you have to wait from now before you reach that target amount? (Do not round your intermediate calculations.) Multiple Choice O 1772 years O 21.69 years O 19.72 years O O 15.72 years
If you invest $1,907 today at an interest rate of 8.51 percent, compounded daily, how much money will you have in your savings account in 27 years?
You have already saved $6775 to buy a used car. You invest this money in a certificate of deposit earning 0.95% APR compounded monthly. How many years will it take your account to reach your target of $7025 in order to buy the new car?
You have already saved $7000 to buy a used car. You invest this money in a certificate of deposit earning 0.65% APR compounded monthly. How many years will it take your account to reach your target of $7425 in order to buy the new car?
1. Suppose you invest $3,600 in an account bearing interest at the rate of 14 percent per year. What will be the future value of your investment in five years? 2. Your best friend won the state lottery and has offered to give you $11,100 in five years, after he has made his first million dollars. You figure that if you had the money today, you could invest it at 12 percent annual interest. What is the present value of...
If you invest $11,277 today at an interest rate of 4.27 percent, compounded daily, how much money will you have in your savings account in 12 years? Round the answer to two decimal places.
If you invest $5,550 today at an interest rate of 6.75 percent, compounded daily, how much money will you have in your savings account in 7 years? Round the answer to two decimal places.
if you want to triple your money at an interest rate of 8 percent per year compounded annually, how many years would you have to leave the money in the account?
At age 24 you invest $1,000 that earns 9 percent each year. At age 34 you invest $1,000 that earns 12 percent per year. In which case would you have more money at age 60?
Retirement Investment Advisors, Inc., has just offered you an annual interest rate of 4.2 percent until you retire in 40 years. You believe that interest rates will increase over the next year and you would be offered 4.8 percent per year one year from today. If you plan to deposit $12,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit? Multiple Choice...