Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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How much money should be invested in an account that earns 9% interest, compounded quarterly, in order to have
$5,000 in 5 years? Round to the nearest cent.
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- Finance. Suppose that $4,000 is invested at 4.6% annual interest rate, compounded monthly. How much money will be in the account in (A) 6 months? (B) 6 years? (A) Amount after 6 months: $ (Round to the nearest cent.)arrow_forwardSuppose that $30,000 is invested at 9% interest. Find the amount of money in the account after 7 years if the interest is compounded annually. If interest is compounded annually, what is the amount of money after t = 7 years? $ (Do not round until the final answer. Then round to the nearest cent as needed.)arrow_forwardSuppose that $70,000 is invested at 7% interest. Find the amount of money in the account after 7 years if the interest is compounded annually. If interest is compounded annually, what is the amount of money after t = 7 years? $ (Do not round until the final answer. Then round to the nearest cent as needed.)arrow_forward
- If you invested $12,000 into an account paying 9% compounded monthly (j12), how much would you have in the account after 20 years? Round your answer to 2 decimal places. Your Answer: Answerarrow_forwardHow much money would be in an account if $6,200 is deposited at 2% interest compounded semi-annually and the money is left for 8 years?arrow_forwardIf $12000 per quarter is invested in an account that earns a nominal annual interest rate of 11 % compounded monthly, how much money will be in the account at the end of 6 years? round to nearest dollararrow_forward
- Use 365 for the number of days in a year. Calculate the future value (in dollars) of $1,150 deposited into an account earning an annual simple interest rate of 5% compounded daily after 3 years. (Round your answer ro rhe nearest cent.arrow_forward1. If you deposit $46,904 annually at the end of every year in a bank account paying 10% annually, how much would you have saved at the end of six years? Round your answer to the nearest one dollar.arrow_forward
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