Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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You deposit $500 in an account earning 7% interest compounded annually. How much will you have in the account in 20 years?
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- You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much will you have in the account in 15 years? b) How much total money will you put into the account? c) How much total interest will you earn?arrow_forwardHow much will you have in accumulated savings 20 years from now if you deposit $2,000 at the end of this year, then increase your annual contributions by 2% each year thereafter? You expect to earn 5% compounded annually on your savingsarrow_forwardIf you decide to deposit $480 every year for the next 6 years, with first deposit to be made one year from today and all deposits to be made at the end of each year, in an account that pays 4.62% APR with annual compounding, how much is this account worth in today's dollars?arrow_forward
- You want to be able to withdraw $25,000 from your account each year for 30 years after you retire. You expect to retire in 20 years. If your account earns 8% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?arrow_forwardIf you save $1298 per year for the next 17 years and earn 7.2% interest on your savings, how much will you expect to have at the end of 17 years? Assume deposits are made at the beginning of each year. Give your answer in dollars to the nearest one dollar.arrow_forwardUsing a compound interest calculator, if you would deposit $10 each week into a savings account that paid a compound interest rate of 3.75% each year compounded monthly, how much would you have in your account in five years?arrow_forward
- Using a compound interest calculator, it you would deposit $100 each month into a savings account that paid a compound interest rate of 5.5% each year compounded quarterly, how much would you have in your account in five years?arrow_forwardIf you deposit $3,000 at the end of each of the next 10 years into an account paying 12.0% interest, how much will you have in the account in 10 years?arrow_forwardYou deposit $600 in an account earning 2% interest compounded annually. How much will you have in the account in 20 years?arrow_forward
- Your bank offers a savings account that pays 2.5% interest, compounded annually. If you invest $1,000 in the account, then how much will it be worth at the end of 25 years?arrow_forwardYou will deposit $7500 in a savings account every year for 10 years. The account pays 6% interest. How much will you have at the end of 10 years? a) 13,433 b) 57,870 c) 90,045 d) 98,858arrow_forwardSuppose you want to have $500,000 for retirement in 35 years. Your account earns 6% interest. How much would you need to deposit in the account each month?arrow_forward
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