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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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If Rita receives$45.44interest for a deposit earning4%simple interest for 130 days, what is the amount of her deposit? (Round your answer to the nearest cent.) $___________.
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- If Rita receives $41.64 interest for a deposit earning 7% simple interest for 170 days, what is the amount of her deposit? (round your answer to the nearest cent.)arrow_forwardA bank pays an interest of 6.8% for a 6 month term deposit. Calculate the amount that Stacy must invest to earn an interest of $480.47. (Calculate to the nearest cent eg. 123.45) Answer:arrow_forwardInterest Earned. Lisa is depositing $3,500 in a six-month CD that pays 3.73% interest. How much interest will she accrue if she holds the CD until maturity? If she holds the CD until maturity, the amount of interest she will accrue is $_______arrow_forward
- At the age of 30, to save for retirement, you decide to deposit $70 at the end of each month in an IRA that pays 4% compounded monthly. a. Use the following formula to determine how much you will have in the IRA when you retire at age 65. P[(1+r)²-1] A = A: or (7) b. Find the interest. ID a. You will have approximately $ in the IRA when you retire. (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The interest is approximately $ (Use the answer from part a to find this answer. Round to the nearest dollar as needed.)arrow_forwardam. 216.arrow_forwardNn.160. Subject :- Financearrow_forward
- Helparrow_forwardAssume Jed Gerbil invested $ 12,524 into an account exactly two years ago. The account has an interest rate of 13.1 % p.a. How much does Jed have in his account today (that is, exactly two years after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84).arrow_forwardAssume Bill Jones invested $ 2,160.57 into an account exactly one year ago. The account has an interest rate of 5.9 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84).arrow_forward
- If you would like to retire as a millionaire and make a uniform deposit of $15,000 annually at an interest rate of 6%, For how many years you have to work?arrow_forwarda) Complete the following table for the first 4 periods of an annuity that pays 8.2% compounded monthly. You are making $250 payments at the end of each period. Your initial deposit is $3000. Period Interest earned Payment Ending Balance ---- ---- 3000.00 1 2 3 4 b) How much will be in your account at the end of the 4th period? ____________ c) How much did you contribute? _________________ d) How much interest was earned? _______________arrow_forward) Signe owes $19,561 on her credit card. Calculate the monthly payment if the credit card APR is 18% and Signe pays it off in three years. Assume no additional charges are made to the card. LSS-Comp SP LSS-Cont O O LParrow_forward
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