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:Asif received a bonus of $10 000, which he immediately invested in a fund earning
9.25% compounded semi-annually through his Tax Free Savings Account. Five years
later, Asif plans to make the first semi-annual withdrawal of $1000. After how many
withdrawals, the fund will be completely depleted?show the work
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- Jose currently has $12,000.00 saved and plans to make quarterly savings contributions of $9,150.69. His first quarterly savings contribution is expected in 3 months. Jose expects to earn 18.04 percent per year. How many quarterly savings contributions of $9,150.69 does Jose need to make in order to have $138,300.00? O 6.65 payments O 10.48 payments O 10.13 payments O 6.12 payments O the answer cannot be obtained based on the given informationarrow_forwardBradley set up a fund that would pay his family 3500 at the beginning of every month, in perpetuity.What was size of the investment in the fund if it was earning 5.50% compounded semi-annually?arrow_forwardAhmad is making $1,000 monthly deposits into a fund that pays interest at a rate of 6% compounded monthly.What would be the balance at the end of 10 years? Select one: a. $163,879 b. $127,200 c. $159,423 d. $158,169arrow_forward
- Monica invested the profit of his business in an investment fund that was earning 2.75% compounded monthly. He began withdrawing $3,500 from this fund every 6 months, with the first withdrawal in 4 years. If the money in the fund lasted for the next 5 years, how much money did he initially invest in the fund?arrow_forwardKenny decided to make a P1,000 monthly deposit in a fund that pays 6% compounded quarterly. How much will be in the fund after 15 years? a. P290,082.51 b. P118,729.52 c. P290,785.62 d. P199,567.25arrow_forwardYou have Php100,000 in a trust fund that pays 6.5% interest. You must spend the money on your college education, and you must withdraw the money in 4 equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account?arrow_forward
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