Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Question 1 of 6
What is the accumulated value of periodic deposits of $6,000 made into an investment
fund at the beginning of every quarter, for 5 years, if the interest rate is 4.50%
compounded quarterly?
Round to the nearest cent
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- What is the value today of $500 received at the beginning of each period of six months for 12 years and the interest rate is 8% compounded semi-annually?arrow_forwardA bank offers and investment account that has an annual interst rate of 9.9%, compounded quarterly. At the end of a 132 month year period you'd like to have $50,000 in the account. If your investment is made as a lump sum at the beginning how much do you need to contribute?arrow_forwardA person deposits $2750 in an account that yields 3.5% interest compounded annually. Set up a recurrence relation for the amount in the account at the end of n years.b) Find an explicit formula for the amount in the account at the end of n years.c) How much money will be in the account after 25 years?arrow_forward
- Find the future value of an investment of $9,000 if it is invested for five years and compounded semiannually at an annual rate of 2%. Use the $1.00 future value table or the future value and compound interest formula.arrow_forwardWhat is the future worth of a series of equal year-end deposits of $3,000 for 15 years in a savings account that earns 9% annual interest if the following were true? (a) All deposits arc made at the endof each year? (b) All deposits are made at the beginning of each year?arrow_forwardWhat is the accumulated value of periodic deposits of $3,000 made into an investment fund at the beginning of every six months, for 5 years, if the interest rate is 4.75% compounded semi-annually? Round to the nearest cent SUBMIT QUESTIONarrow_forward
- Use the appropriate formula to find the future value (in $) of $300 deposited at the beginning of every six months, for 19 years if a bank pays 4% interest, compounded semiannually. (Round your answers to the nearest cent.)arrow_forwardUse the formula for computing future value using compound interest to determine the value of an account at the end of 6 years if a principal amount of $5,000 is deposited in an account at an annual interest rate of 4% and the interest is compounded quarterlyarrow_forward
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