QUESTIONS If you episod 7.930 is end the whole QUESTION You will delete for years, the...

Question

Question

Answer 1

Answer #1

1) Investment = $7939.. Time = 6years , Amount received = $20910.. Supposed interest rate = i..

Then, 20910 = 7939(1+i%)^6

(1+i%)^6 = (20910/7939) = 2.63

(now if we put i=18, then it will come to 2.68 which is near to 2.63)

hence the interest rate (i)= 18%...

2) Investment = $11644.. Time = 6 years.. Interest rate =10%..(simple interest)

Amount at the end of 6 years = $11644(1+6*10%)

= $18630...

Then for compound interest rate of 14%, time 3 years, investment $18630..

Amount received at the end of the period

= $18630(1+14%)^3 = $18630(1.14)^3 = $18630 * 1.48

= $27572...

(Please give an up vote if you find it helpful)...

Answer 2

Similar Homework Help Questions

Question 21 (1 point) You would like to save $2000 for a trip at the end...

Question 21 (1 point) You would like to save $2000 for a trip at the end of your degree in three years. You deposit $1,000 today and will make a another deposit in 18 months. How much should you deposit so that you will have 2000 in three years if you will earn 9% simple. Use three years as your focal date. Your Answer: Answer
It is your 25th birthday (end of 25 years) and you decide that you want to...

It is your 25th birthday (end of 25 years) and you decide that you want to retire on your 65th birthday (end of 65 years - 40 years later). Your salary is $55,000 per year and you expect your salary to increase by 3% each year for the next 40 years. When you retire, you want your retirement fund to provide an annual payment equal to 80% of your salary at age 65 and to increase by 2% a year...
expect to retire You are 35 years old today and are considering your retirement needs. You...

expect to retire You are 35 years old today and are considering your retirement needs. You at age 65 and your actuarial tables suggest that you will live to be 100. You want to move to the Bahamas when you retire. You estimate that it will cost you $ 300,000 to make the move (on your 65th birthday) and that your living expenses will be $30,000 a year (starting at the end of year 66 and continuing through the end...

Moving to another question will save this response Question 3 of 22 Question 3 10 points...

Moving to another question will save this response Question 3 of 22 Question 3 10 points Save Answer Your older sister deposited $5,000 today at 7 percent interest for 5 years. You would like to have just as much money at the end of the next 5 years as your sister will have. However, you can only earn 8.75 percent interest. How much more (less) money must you deposit today than your sister dad if you are to have the...
Question 16 (1 point) How much money would you have at the end of five years...

Question 16 (1 point) How much money would you have at the end of five years if you made deposits of $450 at the end of every month into an investment that accumulated at 18% compounded monthly? $27,000 $17,721 $116,843 $43,297 $31,860
In excel using the formulas, do the next questions: 1. If you save 10,000 at the...

In excel using the formulas, do the next questions: 1. If you save 10,000 at the end of every year for 8 years at 8% interest - how much will you have at the end of that period? 2. If you start with 10,000 and save 3,000 every year for 10 years at 7.5% interest - how much will you have at the end of that period? 3. You deposit 8,000 and receive 8% annual interest (compounded semi annually) for...

You plan to retire 30 years from now. You will save $5,000 per year for the...

You plan to retire 30 years from now. You will save $5,000 per year for the next 15 years, and then $7,000 for the 15 years after that. You can earn 9% on your savings. How much will you have 30 years from now? Round your answer tothe nearest whole number,for example 1441. You will save $4,000 per year for the next 30 years. You will earn 10% on your savings. At the end of 30 years, you will retire,...
C++ How would you delete a node in a linked list? from beginning, end, and a...

C++ How would you delete a node in a linked list? from beginning, end, and a node somewhere in the middle without breaking the links to the next or previous nodes
Answer the following questions: Define an annuity (2 pts.) Suppose you have an ordinary annuity where...

Answer the following questions: Define an annuity (2 pts.) Suppose you have an ordinary annuity where you save $3,000 per year for the next 20 years at an annual interest rate of 8%. How much will you have accumulated at the end of those 20 years? (3 pts.) Suppose you have an immediate annuity where you save $5,000 per year for the next 30 years at an annual interest rate of 6%. How much will you have accumulated at the...

You are a freshman in college and are planning a trip to Europe when you graduate from college at the end of four years....

You are a freshman in college and are planning a trip to Europe when you graduate from college at the end of four years. You plan to save the following amounts annually, starting today: $560, $730, $730, and $840. If you can earn 6.00 percent annually, how much will you have at the end of four years?