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- Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?If you invest $ 500 on Lending Circle at a rate of 5% for 1.5 years, how much will you have earned?
- You want to buy an apartment at the price of 4 million Hong Kong dollars. You will do this with a mortgage from a bank at the annual interest rate 8% for 30 years. What is your annual payment? Draw a cash flow diagram.A set aside $500 annually in a trust fund which allows interest at 5% effective. What amount does A have to his credit just after the 15th deposit has been made?1. What interest rate compounded monthly is equivalent to 10% effective rate?
- Today you deposited $10,000 in a savings account paying 7% annual interest. How much should you have at the end of five years?Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.Money deposited in a certain account for which the interest is compounded continuously. If the balance doubles in 6 years, what is the annual percentage rate?
- Mr. Bill deposited 100,000 pesos in bank account earning interest at the rate of 10% compounded quarterly, what will it become at the end of 10 years?How much money will you have in seven yearsif you deposit $7,000 in the bank at 8.5% interestcompounded daily?Edward wants to take a long trip around Europe 7 years from now. He estimates that he will need $12,000 to finance the trip. Edward has found a stock portfolio that generates a 8% yearly rate of return. How much does Edward need to invest today to afford the trip? Round to the nearest dollar, do not enter a dollar sign.