Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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A man wants to invest $10,000 at 3.5% interest. How much will he have in his account in 7 years and three months?
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- Assume you deposit $50,000 today in a bank account offering an interest rate of 7.50% per year, compounded annually. How much interest on interest will you have earned after 3 years?arrow_forwardSuppose you want to have $800,000 for retirement in 25 years. Your account earns 9% interest.a) How much would you need to deposit in the account each month?$b) How much interest will you earn? $arrow_forwardYou just opened a brokerage account, depositing $4,000. You expect the account to earn an interest rate of 10.2%. You also plan on depositing $1,500 at the end of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?arrow_forward
- You have $58,138.29 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $240,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.arrow_forwardIf you save $1298 per year for the next 17 years and earn 7.2% interest on your savings, how much will you expect to have at the end of 17 years? Assume deposits are made at the beginning of each year. Give your answer in dollars to the nearest one dollar.arrow_forwardYou just opened a brokerage account, depositing $4,500. You expect the account to earn an interest rate of 8.57 % . You also plan on depositing $3,000 at thenend of years 5 through 10. What will be the value of the account at the end of 20 years, assuming you earn your expected rate of return?arrow_forward
- How much would your investment be worth if you deposited $5,555.55 into a bank that paid simple interest of 4% for 10 years?arrow_forwardSuppose you deposit $100 today in an account paying 8 percent. In oneyear, you will deposit another $100. How much will you have in two years?arrow_forwardHannah wants to have $1500 to help pay for a new deck in 13 years. If she wants to put her money into an account earning 8.5% interest compound continuously, how much should she invest now, so that she will have $1500 in 13 years? Payment amount =arrow_forward
- You will require $650 in 5 years. If you earn 5% interest on your funds, how much will you need to invest today in order to reach your savings goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)arrow_forwardHow much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank pays 5 percent per year.arrow_forwardyou want to have $10,000 in 5 years and can earn 3.2% annually. How much must you deposit today to achieve your goal?arrow_forward
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