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 should you deposit at the end of each quarter into an account that pays 4.4% annual
interest compounded quarterly in order to have $5000 in three years?
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- In ten years time a person would like to have accumulated $22,109 so they can make a down payment on a house. How much do they need to deposit today at an annual interest rate of 9.98% if the account compounds semiannually? Enter a number rounded to two decimal places.arrow_forwardIf you depoist money today in an account that pays 14% annual interest, how long would it take to double your money? Round two decimal places. ______ yearsarrow_forwardIf you deposit money today in an account that pays 12.5% annual interest, how long will it take to double your money? Round your answer to two decimal places. yearsarrow_forward
- You deposit $83000 into an account which pays 6% compounded semiannually. How much can you withdraw at the end of every six months forever?arrow_forwardSuppose that you deposit $555 today in an account with an APR of 10% compounded monthly. How much interest will you have earned at the end of six years? Assume a year has 365 days. Deposit $ 555.00 APR 10% Years 6 Interestarrow_forwardIf you were to borrow $9,400 over five years at 0.10 compounded monthly, what would be your monthlypayment?arrow_forward
- You deposit $2,239 per year for 14 years, beginning in one year, into an account that pays 12% percent annual interest. How much will you have in your account in 14 years? DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR.arrow_forwardYou have maxed out your $10,000 credit card, which is being charged 12.8% annual interest compounded daily. What is the minimum monthly payment to continue to break even? How much should you pay each week to get out of debt within one year?arrow_forwardHow much should a family deposit at the end of every 6 months in order to have $2000 at the end of 3 years? The account pays 5.3% interest compounded semiannually. (Round your final answer to two decimal places.)arrow_forward
- You deposit $96000 into an account which pays 7% compounded semiannually. How much can you withdraw at the end of every six months forever?arrow_forwardSuppose you run up a debt of $300 on a credit cardthat charges an annual rate of 12 percent, compounded annually. How much will you owe at theend of two years? Assume no additional chargesor payments are madearrow_forwardYou deposit $76000 into an account which pays 4% compounded semiannually. How much can you withdraw at the end of every six months forever?arrow_forward
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