Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Beginning in January, a person plans to deposit $100 at the end of each month into an account earning 15% compounded monthly. Each year taxes must be paid on the interest earned during that year. Find the interest earned during each year for the first 3 years.
The interest earned during the first year is $________. (Round to the nearest cent as needed.)
Bob makes his first $900 deposit into an IRA earning 7.6% compounded annually on his 24th birthday and his last $900 deposit on his 37th birthday (14 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.6% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires?
The amount in the IRA when Bob retires is $________ (Round to the nearest cent as needed.)
You can afford monthly deposits of $180 into an account that pays 3.9% compounded monthly. How long will it be until you have $8,200 to buy a boat?
the number of months: _______ (Round to the next-higher month if not exact.)
[i need three answer i will provided to yo upvote]
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