2. David invests $5000 compounded monthly at 18% p.a. Determine the value of the investment after: a) 3 months b) 5 months

Jordan invested money in an account that paid interest of 8% per year, compounded semi-annually, for 6 years. At the end of the 6 years, he has a total of $24015.48.a)What was Jordan’s initial investment?b)How much interest was paid?c)What approximate annual interest rate would have been needed for the same present value and future value, if interest had been paid monthly instead of semi-annually?

You would like to have $1,000,000 when you retire in 35 years. How much should you invest each quarter if you can earn a rate of 4.9% compounded quarterly? a) How much should you deposit each quarter? b) How much total money will you put into the account? c) How much total interest will you earn?

Alberto invests $100 per month in an annuity that pays a 12% interest rate compounded monthly. a.)Determine the accumulated amount in Alberto’s account after 10 years. b.) Alberto stops making payments and takes the money he accumulated and invests it in a savings account with an interest of 12% compounded monthly. Determine the amount Alberto has in his savings account 30 years later.