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QUESTION 6 Melanie invests her inheritance of $50,000 at 7% annual percentage rate compounded monthly for...
3. Linda invests $3000 in a bond trust that pays 8% interest compounded monthly. Her friend...
3. Linda invests $3000 in a bond trust that pays 8% interest compounded monthly. Her friend Lyla invests $3000 in a certificate of deposit that pays 7.75% compounded continuously. For Linda: a. State which formula should be used to solve this problem. b. Write the resulting function for Linda. c. Determine how much Linda would have in her account after 20 years. For Lyla: a. State which formula should be used to solve this problem. b. Write the resulting function...
Question 7 If A, dollars are invested at annual interest rate r, compounded monthly, then after...
Question 7 If A, dollars are invested at annual interest rate r, compounded monthly, then after years the account will have grown to 12: A) = A 1 + 12 If $3000 is placed into an account eaming 10% annual interest, compounded monthly, how much will it grow to after 10 years? (1-2) $6607.30 $8121.12 $8230.43 $6944.62
Jordan's investment manager offers her an interest rate of 7.0% compounded monthly on her investments. If...
Jordan's investment manager offers her an interest rate of 7.0% compounded monthly on her investments. If the manager changes his mind and offers her a rate of 7.0% compounded annually how much more would she have to deposit at the end of each year in order to accumulate $418,000 in 25 years?
:30 Question 12 of 13 Sophie's investment manager offers her an interest rate of 8.0% compounded...
:30 Question 12 of 13 Sophie's investment manager offers her an interest rate of 8.0% compounded monthly on her investments. If the manager changes his mind and offers her a rate of 8.0% compounded annually how much more would she have to deposit at the end of each year in order to accumulate $421,000 in 25 years? Round to the nearest cent
Doris Wade purchased a condominium for $50,000 in 1980. Her down payment was $10,000. She financed...
Doris Wade purchased a condominium for $50,000 in 1980. Her down payment was $10,000. She financed the remaining amount as a $40,000, 30-year mortgage at 8%, compounded monthly. Her monthly payments are $200. It is now 2000 (20 years later) and Doris has sold the condominium for $100,000, immediately after making her 240th payment on the unit. Find her effective annual internal rate of return on this investment Choose the closest answer below. OA. 5.5% O B. 7.6% OC. 9.8%...
Tucson Bank offers to lend you $50,000 at a nominal rate of 12%, compounded monthly. The loan (principal plus interest)...
Tucson Bank offers to lend you $50,000 at a nominal rate of 12%, compounded monthly. The loan (principal plus interest) must be repaid at the end of the year. Phoenix Bank also offers to lend you the $50,000, but it will charge an annual rate of 10.8%, with no interest due until the end of the year. How much higher or lower is the effective annual rate charged by Tucson versus the rate charged by Phoenix? Solve without Excel. Show...
What is the effective annual rate of a 12% APR compounded monthly? a. 1% O b....
What is the effective annual rate of a 12% APR compounded monthly? a. 1% O b. 12.68% O c. 12% O d. 12.12% Your grandmother bought $10,000 of a stock many years ago. The stock is worth $1,000,000 today. If the stock returned 18% annually. approximately how many years ago did she buy the stock? a. 27 b. 28 O c.29 d. 30 How much money would you need to save today if you wish to have $1,000,000 in 20...
1-Your friend has a newborn child and her grandmother invests $10,000 into an account guaranteeing a...
1-Your friend has a newborn child and her grandmother invests $10,000 into an account guaranteeing a 5% annual return. Approximately how much will the value of the account be in eighteen years, assuming all the interest is left in the account? 2-Rather than continuing to buy a $3 latte every day a recent college graduate decides to place $3 each day in a drawer and invest it in a mutual fund at the end of each year. One year from...
1. Determine the discount rate assuming the present value of $940 at the end of 1-year...
1. Determine the discount rate assuming the present value of $940 at the end of 1-year is $865? 2. $9,800 is deposited for 12 years at 5% compounded annually, determine the FV? 3. If $2,800 is discounted back 4 years at an interest rate of 8% compounded semi-annually, what would be the present value? 4. Consider a newlywed who is planning a wedding anniversary gift of a trip to Canada for her husband at the end of 10 years. She...
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment...
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment of $850. (1) Calculate the principal. (2) How much of the principal is paid the first, 5th, 20th and last year? (3) How much interest is paid the first, 5th, 20th and last year year? (4) What is the total amount of money paid during the 30 years? (5) What is the total amount of interest paid during the 30 years? (6) What is...
3. Linda invests $3000 in a bond trust that pays 8% interest compounded monthly. Her friend Lyla invests $3000 in a certificate of deposit that pays 7.75% compounded continuously. For Linda: a. State which formula should be used to solve this problem. b. Write the resulting function for Linda. c. Determine how much Linda would have in her account after 20 years. For Lyla: a. State which formula should be used to solve this problem. b. Write the resulting function...
Question 7 If A, dollars are invested at annual interest rate r, compounded monthly, then after years the account will have grown to 12: A) = A 1 + 12 If $3000 is placed into an account eaming 10% annual interest, compounded monthly, how much will it grow to after 10 years? (1-2) $6607.30 $8121.12 $8230.43 $6944.62
Jordan's investment manager offers her an interest rate of 7.0% compounded monthly on her investments. If the manager changes his mind and offers her a rate of 7.0% compounded annually how much more would she have to deposit at the end of each year in order to accumulate $418,000 in 25 years?
:30 Question 12 of 13 Sophie's investment manager offers her an interest rate of 8.0% compounded monthly on her investments. If the manager changes his mind and offers her a rate of 8.0% compounded annually how much more would she have to deposit at the end of each year in order to accumulate $421,000 in 25 years? Round to the nearest cent
Doris Wade purchased a condominium for $50,000 in 1980. Her down payment was $10,000. She financed the remaining amount as a $40,000, 30-year mortgage at 8%, compounded monthly. Her monthly payments are $200. It is now 2000 (20 years later) and Doris has sold the condominium for $100,000, immediately after making her 240th payment on the unit. Find her effective annual internal rate of return on this investment Choose the closest answer below. OA. 5.5% O B. 7.6% OC. 9.8%...
What is the effective annual rate of a 12% APR compounded monthly? a. 1% O b. 12.68% O c. 12% O d. 12.12% Your grandmother bought $10,000 of a stock many years ago. The stock is worth $1,000,000 today. If the stock returned 18% annually. approximately how many years ago did she buy the stock? a. 27 b. 28 O c.29 d. 30 How much money would you need to save today if you wish to have $1,000,000 in 20...
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