Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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- Suppose you deposit $ 1296 today and your account will accumulate to $ 5637 in 9 years. What is the rate of interest? Input your answer in decimals, not percentages. Round your answer to four decimals places.arrow_forwardWhen $8,600 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation i=8,600r, where r is the rate of interest in decimal form. Graph i=8,600r, for r up to and including a rate of 16%. If the rate is 7%, how much interest is earned? OA. $6,020 OB. $602 OC. $586 OD. $622arrow_forwardYou wish to save $58000 in an account which pays 7% compounded quarterly by making monthly deposits for 8 years. What is the amount of the deposits? $ (Round to 2 decimal places.) Submit Questionarrow_forward
- Suppose you deposit $1,681.00 into an account today that earns 11.00% p.a. It will take years for the account to be worth $2,936.00.arrow_forwardYou wish to make 4 equal annual deposits into a savings account such that at the time of your last deposit there is $108,581 in the savings account. If the interest rate on the account is an annual nominal interest rate of 3.9% compounded daily, how much must the equal annual deposits be? Provide an exact answer to two decimal places. -Be sure to use the correct annual interest rate when determining the required annual deposit (i.e. you must use the effective annual interest rate) -Use 365 days for the number of days in a yeararrow_forwardYou deposit $ 70,565 in your account today. You make another deposit at t = 1 of $ 51,167 . How much will there be in your account at the end of year 2 if the interest rate is 19 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer:arrow_forward
- You can earn .53 percent per month at your bank. If you deposit $3,600, how long must you wait until your account has grown to $6,600? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Number of monthsarrow_forwardTen Thousand dollars is deposited into a savings account at 1.8% interest compounded monthly. How many months are required for the balance to reach $10,665.74? After how many months will the balance exceed $11,000? Do not solve by formula ONLY TVM SOLVER. I need to know which numbers to plug into the TVM solver and where.arrow_forwardIf you earn 5% per year on your bank account, how long will it take an account with $110 to double to $220? (Do not round intermediate calculations. Round your answer to 2 decimal places.)arrow_forward
- You can earn .53 percent per month at your bank. If you deposit $3,600, how long must you wait until your account has grown to $6,600? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of monthsarrow_forwardIf you put $259 into a bank account that pays 3.5% interest, compounded 9 times per year, how much interest will the account pay over 2 years? Round your answer to two decimal places if necessary.arrow_forwardDerek will deposit $1,696.00 per year into an account starting today and ending in year 17.00. The account that earns 6.00%. How much will be in the account 17.0 years from today? Submit Answer format: Currency: Round to: 2 decimal places.arrow_forward
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