The home the Bensons purchased 12 years ago for $93,000 is now appraised at $223,000. What has been the annual rate of appreciation of the value of their home during the 12-year period? (Do not round the Intermedlate calculations and round your percentage answer to 2 decimal places.) The compound annual rate of appreciation 1%

The home the Bensons purchased 12 years ago for $93,000 is now appraised at $223,000. What has been the annual rate of appreciation of the value of their home during the 12-year period? (Do not round the Intermedlate calculations and round your percentage answer to 2 decimal places.) The compound annual rate of appreciation 1%

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

A property was purchased for $3976.00 down and payments of $1249.00 at the end of every six months for 6 years. Interest is 8% per annum compounded monthly. What was the purchase price of the property? How much is the cost of financing? The purchase price of the property was $ $☐ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Noelyn invested her ₱2,000 at 6% compounded quarterly. How much will be the amount at the end of 5 years? * a. ₱2,699.61 b. ₱2,696.16 c. ₱2,691.17 d. ₱2,693.71
Luis deposited $900 at the end of every month into an RRSP for 9 years. The interest rate earned was 4.50% compounded semi-annually for the first 4 years and changed to 4.75% compounded monthly for the next 5 years. What was the accumulated value of the RRSP at the end of 9 years? Round to the nearest cent
A family takes a $275,000 20 year mortage at 3.50% annually compounded monthly. a. Compute their monthly payments. o. Immediately after the 121st payment, this family receives a $55,000 from an inheritance. They decide to put this entire amount against the amount they owe. Given that the bank expects them to maintain the same monthly payments as in 4a, compute the length of time (months) it will take to pay the laon off. The same family above realizes that the inheritance income will not materialize (so they are back to 4a). Instead, immediately after their 121st payment they decide to re- fianance at the lower rate of 15% per year compounded monthly. They decide to stick with the same number of remaing monthly payments. What will be their new monthly payment? please draw the cash flow diagrams, and show all calculations!!!!
Julia deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 7 years? (Round to the nearest cent).
If $1000 is deposited at the end of each year for 5 years into an ordinary annuity earning 8.99% compounded annually, construct a balance sheet showing the interest earned during each year and the balance at the end of each year. Complete the balance sheet. Period Amount Interest Balance 1 $1000.00 2 $1000.00 3 $1000.00 4 $1000.00 $ $4 $1000.00 $4 $ (Round to the nearest cent as needed.)
Mr. Merkel has contributed $196.00 at the end of each year into an RRSP paying 5% per annum compounded Question content area bottom Part 1 How much will Mr. have in the RRSP after 18 years? $ enter your response here (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Part 2 How much of the above amount is interest? $ enter your response here (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
A student bought a rental property for $40 000.00 down and monthly payments of $1000.00 for 5 years. What is the equivalent cash price if money is worth 5.75% compounded semi-annually? 85647.32 O95288.35 O 105284.25 O 92122.41 4
An art collector purchased a painting 30yrs ago for $587,000. Today this painting is estimated to be $11.74 million. Based on this estimate, what is the annual compound rate of appreciation for the painting since the art collector's initial purchase?
Subject:
Vanessa deposited $1,300 at the end of every month into an RRSP for 7 years. The interest rate earned was 4.50% compounded semi-annually for the first 3 years and changed to 4.75% compounded monthly for the next 4 years. What was the accumulated value of the RRSP at the end of 7 years?.
Bill makes annual deposits of $1900 to an an IRA earning 10% compounded annually for 10 years. At the end of the 10 years Bill retiron. a) What was the value of his IRA at the end of 10 years? Answer= $ b) What is the largest amount Bill may withdraw annually for the next 21 years at 10 % compounded annually? Answer = $

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