Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:7. If you make end of period monthly deposits of $4,350
and can earn 6.25% compounded monthly, how much
money will you have in 15 years?
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- You borrow $50, 000 for 5 years. This is an amortized load, meaning that payments are the same each month, and the loan is fully paid off with final payment. The quoted interest rate (or APR) in 12% per year. What is the monthly payment?arrow_forwardIf you invest $1,000 in an account that pays an annual interest rate of 6.4%, compounded monthly, how long will it take for your money to double?arrow_forwardIf you want to earn 7% annual simple interest on an investment, how much should you pay for a note that will be worth $6,700.00 in 10 monthsarrow_forward
- If you want to have $7700 at the end of 9 years, how much money you need to deposit today into an account that pays 9.0% interest per year, compounded monthly?arrow_forwardYou have $500,000 saved for retirement. Your account earns 6% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 20 years?arrow_forwardAssume you can obtain an annual interest rate of 12% compounding monthly. You are going to invest $1,000 for two years. What interest rate will be compounded? O 12% O 24% O 6% O 1%arrow_forward
- How much would you need to deposit in an account now in order to have $4000 in the account in 5 years? Assume the account earns 7% interest compounded monthly.arrow_forwardSuppose you invest $160 a month for 6 years into an account earning 7% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 21 years. How much will you have in the end?arrow_forward
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