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:Find the future value of each deposit if the account pays (a) simple interest, and (b) interest compounded annually.
$300 at 3% for 7 years
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- Calculate the future value (in dollars) of $1,150 deposited into an account earning an annual simple interest rate of 6% compounded daily after 3 yearsarrow_forwardYou deposit $400 in an account earning 8% coumpound interest for 2 years. Find the future value and the interest earned for each of the following compounding frequencies.arrow_forwardFind the present value of the annuity that will pay $1,500 every 6 months for 9 years from an account paying interest at a rate of 8% compounded semiannually.arrow_forward
- Assume that you make monthly payments of $400 into an ordinary annuity payi f 5% compounded monthly. How much will be in the account after 8 years?arrow_forwardAssume that you make monthly payments of $625 into an ordinary annuity paying 4% compounded monthly. How much will be in the account after 9 years? Amount=arrow_forwardA deposit of $2500 is made into an account drawing 3.6% interest compounded monthly. Find the future value 15 years after the initial depositarrow_forward
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