Ten years ago, you put $150,000 into an interest-earning account. Today it is worth $325,000. 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.
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. 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...
You can invest £3,000 today and will receive £9,000 in ten years. You would be earning what annual rate of interest if compound interest is paid yearly?
1. Fifteen years ago, you put away $7,500. Today, that investment is now worth $22,068. What is the average annual rate of return you earned on your investment? 2. Your company takes out a 10-year term loan to borrow $1,325,000 to finance a building expansion. The annual interest rate on the loan is 4.75% and equal payments are made monthly. How much will the monthly payment be? 3. Referring back to question #2, how much...
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...
If you deposit $2,800 today into an account earning an annual rate of return of 8 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years? a. If you deposit $2,800 today into an account earning an annual rate of return of 8 percent, what would your account be worth in 35 years? __________________ (Round to the nearest cent.) b. If you deposit $2,800 today into an account earning an annual rate of...
If you deposit $2,900 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years? a. If you deposit $2,900 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years? $ ___(Round to the nearest cent.)
Suppose you deposit $2,549.00 into an account today. In 8.00 years the account is worth $3,731.00. The account earned ____% per year.
Rick deposited $3,050 into an account 9 years ago for an emergency fund. Today, that account is worth $3,950. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?