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 $600 in an account that earns 4% interest. How long will it take for your money to grow to $1,200?
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- Suppose you invest $200 a month for 6 years into an account earning 9% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 20 years. How much will you have in the end? $ Suppose instead you didn't invest anything for the first 6 years, then deposited $200 a month for 20 years into an account earning 9% compounded monthly. How much will you have in the end?arrow_forwardIf you owe $5,000 on a credit card that charges 18.99% apr and you decide to put no more charges on the account until it is paid off, how much money will you save if you make $200 payments vs $150 payments?arrow_forwardIf you want to have $60,000 in 8 years, how much do you need to deposit in the bank today if the account pays an interest rate of 9%?arrow_forward
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- You currently have $90,000 in a savings account that earns 7% interest. You would like to make annual withdrawals of $15,000. You would also like the account balance to not fall below $25,000. How many withdrawals can you make? PLEASE BREAK IT DOWN ANSWER IS NOT 6 OR 5.arrow_forwardYou want to withdraw $30,000 a year for 30 years. Your account earns 12% interest. How much do you need in the account to be able to do this? A) $241,655.52 B) $231,647.39 C) $245,723.12 D) $198,789.56arrow_forwardHow much money should be deposited today in an account that earns 4.5% compounded monthly so that it will accumulate to $11,000 in 4 years? i Click the icon to view some finance formulas. The amount of money that should be deposited is $. (Round up to the nearest cent as needed.)arrow_forward
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