You invest $280 in a mutual fund today that pays 5.7 percent interest annually. How long will it take to double your money? (Round final answer to 0 decimal place, e.g. 25.) Number of years
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityYou put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Larry James is planning to invest $25,500 today in a mutual fund that will provide a return of 0.08 each year. What will be the value of the investment in 10 years? Round to two decimal places.
- Suppose you deposit $650 per month in a mutual fund that is expected to bear 10% interest compounded monthly. If you do this faithfully, how much will your account be worth after 29 years? Round your answer to the nearest whole number.You have $68,513 you want to invest. You are offered an investment plan that will pay you 4.58 percent per year for the first 20 years and 6.81 percent per year for the last 21 years. How much will you have (in $) at the end of the two periods? Answer to two decimals. < PreviousDouble your money-Rule of 72. Approximately how long will it take to double your money if you get an annual return of 3.7%, 7.3%, or 9.4% on your investment? Approximately how long will it take to double your money if you get a 3.7% annual return on your investment? years (Round to two decimal places.)
- Suppose an investment will pay $7,000 in 44 years from now. If you can earn 6.15% interest compounded monthly by depositing your money in a bank, how much should you pay for the investment today?Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72. Group of answer choicesYou invested 260 in a mutual fund today that pays 6.3 percent interest annually. How long will it take to double your money?You currently have $15,804. You plan on investing it at 20 percent per year until you have $68,555. How long will you wait until you achieve this goal? Enter the answer with 2 decimals (e.g. 1.23).
- Suppose you invest $2,500 in a fund earning 15% simple interest. Further suppose that you have the effective interest rasing this account and opening an account earning compound interest at an annual option at any time of 9%. At what instant should you do so in order to maximize your accumulation at the end of five years? (Round your answer to two decimal places.) 4.53 years How about if you wish to maximize the accumulation at the end of ten years? (Round your answer to two decimal places.) 4.53 yearsYou have just won a lottery that pays out $2.25 million in a lump sum. If you invest this in a mutual fund that grows at an average rate of 7.5% per year, how much will your investment grow to in 30 years? Assume annual compounding. Round your final answer to 2 decimal places.Suppose you are going to invest $11,000 per year for six years. The appropriate interest rate is 9 percent. What is the future value if the payments are made on the last day of the year? What if the payments are made on the first day of the year? a) $82,756.68; $90,204.78 b) $90,204.78; $82,756.68 c) $49,345.10; $53,786.16 d) $53,786.16; $49,345.10