Calculate, to the nearest cent, the future value FV of an investment of $10,000 at the stated interest rate after the stated amount of time. 7.5% per year, compounded daily (assume 365 days/year), after 12 years
Calculate, to the nearest cent, the future value FV of an investment of $10,000 at the...
Calculate, to the nearest cent, the future value FV of an investment of $10,000 at the stated interest rate after the stated amount of time. HINT (See Quick Examples 1 and 2.] 7.5% per year, compounded daily (assume 365 days/year), after 12 years FV = $ Need Help? Read It Watch It Talk to a Tutor . +-/1 points WaneFM7 2.2.012. Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after...
please answer wuestion from f to i Preliminary Examples ompute, to the nearest cent, the future value of an investment of $10,000 at the stated rate of interest after the state hort amount of time. a3% per year, compounded yearly, after 5 years b) 3% per year, compounded semi-annually, after 5 years c) 3% per year, compounded quarterly, after 5 years d) 3% per year, compounded monthly, after 5 years e) 3% per year, compounded daily, after 5 years f)...
Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $22,000 after 8 years at 3% if the interest is compounded in the following ways. _________annually __________quarterly Find the effective rate of the compound interest rate or investment. (Round your answer to two decimal places.) 25% compounded monthly. [Note: This rate is a typical credit card interest rate, often stated as 2.1% per month.] ________% Since 2007, a particular fund returned 13.9% compounded monthly....
Using a financial calculator or spreadsheet, calculate the future value in 5.50 years of $14,900 invested today in an account that pays a stated annual interest rate of 6%, compounded monthly. The future value,FV, on this deposit is $_____. (Round to the nearest cent.)
If you invest $20,000 at an annual interest rate of 4.75%, compounded daily, calculate the future-value (FV) of your investment over a 5-year period. Then, go back and calculate the future-value (FV) of your initial $20,000 investment with a discrete-quarterly compounded annual interest rate of 5.25%, over a 10-year period. Finally, all else equal, utilizing the second part of the example’s numeric values-calculate that initial $20,000 investment at the previous annual interest rate of 5.25%; but this time with continuous...
Round to the nearest cent Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has $5,000 for his CD investment. If the bank is offering a 6% interest rate, compounded annually, how much will the CD be worth at maturity if Jonathan picks a a. three-year investment period? b. five-year investment period? c. ten-year investment period? d. twenty-year investment period?
Find the future value. (Use the Table provided.) (Do not round intermediate calculations. Round the "FV factor" to 4 decimal places and final answer to the nearest cent.) Present value Length of time Rate Compounded On FV Table 12.1 FV factor used Future value Period used Rate used $11,965.44 4 years 12% Quarterly 16 3% $
Find the future value of the ordinary annuity rounded to the nearest cent. If Bob deposits $5000 at the end of each year for 9 years in an account paying 6% interest compounded annually, find the amount he will have on deposit.
n1 Use the model A - Pe" or A-P where A is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $10,000 in an account with interest compounded continuously at 2.2%. How long will it take for him to earn $2000? Round to the nearest month. It will take approximately years and months for him to earn $2000. where A is the future value of P dollars...
1. Calculate the future value of a 23-year annuity with payments of $9,000 each year and an interest rate of 9% compounded annually. Round your answer to the nearest cent. 2. An annuity consists of quarterly payments of $1,500 each for 10 years at an interest rate of 6% compounded quarterly. Compute the future value of the annuity. Round your answer to the nearest cent. 3. Calculate the amount of each monthly payment in a 1-year annuity that has a...