If you deposit money today in an account that pays 10.7 percent annual interest, how long will it take to double your money? a. 6.82 years b. 9.35 years c. 10.70 years d. 2.73 years e. The answer cannot be calculated without knowing how much money is initially deposited.
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If you deposit money today in an account that pays 10.7 percent annual interest, how long will it take to double your money?
a. 6.82 yearsb. 9.35 yearsc. 10.70 yearsd. 2.73 yearse. The answer cannot be calculated without knowing how much money is initially deposited.
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- You need to turn $11,827 dollars into $18,864 dollars in 7 years. Assuming you make no extra deposits, what interest rate would you need from a bank in order to accomplish this?Suppose you need to have $57,942.00 in an account 25.00 years from today and that the account pays 11.00%. How much do you have to deposit into the account 5.00 years from today? Suppose you deposit $1,101.00 into an account 7.00 years from today. Exactly 15.00 years from today the account is worth $1,466.00. What was the account's interest rate? Suppose you deposit $1,093.00 into an account 7.00 years from today that earns 12.00%. It will be worth $1,613.00 _____ years from today. Assume the real rate of interest is 2.00% and the inflation rate is 4.00%. What is the value today of receiving 10,528.00 in 15.00 years?If you deposit OMR 7387 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years. Select one: a. 15947.79 b. 10934.53 c. 8987.39 d. 10853.72 e. All the given choices are not correct
- S You deposit $1,200 in your bank account. a. If the bank pays 5% simple interest, how much will you accumulate in your account after 8 years? Future value Saved b. How much will you accumulate if the bank pays compound interest? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Future value M Question 7Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?If you deposit OMR 28416 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years. Select one: a. All the given choices are not correct b. 34572.33 c. 42062.50 d. 41751.63 e. 61347.30
- If you deposit some money into a bank account today, to the nearest year, how long will it take to triple your deposit if it earns 32% annually? note: calculate to the nearest decimal. For example, if the answer is 12.56 years, then input your answer as 12.6If you deposit OMR 29173 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years. O a. 42863.89 O b. 62981.59 O C. All the given choices are not correct O d. 43183.04 O e. 35493.33You plan to depost $5.300 a paying 10.3 percent interest & How much money will you have in the account in 25 years? Do not round intermediate calculations and round your answer to 2 decimal places. 3216) & How much will you have if you make deposits for 50 years? Do not round intermediate calculations and round your answer to 2 decimal places g.1216) 50
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