Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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If you have $1,051.75 going into a long term savings account monthly, for 4 years, that pays and APR of 5.5% compounded monthly, how much money will you have at the end of the 4 years?
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- You put $1,000 into a savings account today that offers a 55% APR with semi-annual compounding (i.e., two times per year). How much money will you have in the account after 2 years?arrow_forwardUsing a compound interest calculator, if you would deposit $10 each week into a savings account that paid a compound interest rate of 3.75% each year compounded monthly, how much would you have in your account in five years?arrow_forwardUsing a compound interest calculator, it you would deposit $100 each month into a savings account that paid a compound interest rate of 5.5% each year compounded quarterly, how much would you have in your account in five years?arrow_forward
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- How much would you still owe at the end of the first year, after you have made the first payment?arrow_forwardif you have $100 in a savings account and the interest rate is 10% per year and you never withdraw or deposit money, how much will you have in the account after: one year, two yearsarrow_forwardYou will deposit $7500 in a savings account every year for 10 years. The account pays 6% interest. How much will you have at the end of 10 years? a) 13,433 b) 57,870 c) 90,045 d) 98,858arrow_forward
- Suppose you want to save up for a down payment on a house in 5 years. You plan to save $1,000 per month in a savings account. The savings account offers an annual interest rate of 6%. a) If the payments are made at the end of each month, how much money will you have at the end of 5 years? b) If the payments are made at the beginning of each month, how much money will you have at the end of 5 years?arrow_forwardYou deposit $3000 in an account earning 3% interest compounded monthly. How much will you have in the account in 5 years?arrow_forwardHow much would you need to deposit in an account now in order to have $4000 in the account in 5 years? Assume the account earns 7% interest compounded monthly.arrow_forward
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