7. How long will it take 1, 000 to earn 500 interest if the money is earning at 16% converted semiannually? a. 5.11 years 8. What is the amount of an ordinary annuity of 250 each quarter payable for 5 years and 9 months, if the money is worth 12% compounded quarterly? a. 8, 113.22 b. 2.63 years c. 3. 12 years d. 4. 13 years b. 7, 544.12 c. 9, 334.72 d. 6, 992.14
7. How long will it take 1, 000 to earn 500 interest if the money is earning at 16% converted semiannually? a. 5.11 years 8. What is the amount of an ordinary annuity of 250 each quarter payable for 5 years and 9 months, if the money is worth 12% compounded quarterly? a. 8, 113.22 b. 2.63 years c. 3. 12 years d. 4. 13 years b. 7, 544.12 c. 9, 334.72 d. 6, 992.14
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:7. How long will it take 1, 000 to earn 500 interest if the money is earning at 16% converted
semiannually?
a. 5.11 years
8. What is the amount of an ordinary annuity of 250 each quarter payable for 5 years and 9 months, if
the money is worth 12% compounded quarterly?
a. 8, 113.22
b. 2.63 years c. 3. 12 years
d. 4. 13 years
b. 7, 544.12 c. 9, 334.72
d. 6, 992.14
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