Your grandfather put some money in an account for you on the day you were born. You are now 16 years old and are allowed to withdraw the money for the first time. The account currently has $5,311 in it and pays an 11% interest rate. a. How much money would be in the account if you left the money there until your 25th birthday? b. What if you left the money until your 65th birthday? c. How much money did your grandfather originally put in the account? a. How much money would be in the account if you left the money there until your 25th birthday? If you left the money there until your 25th birthday, the amount in the account would be $ nearest cent.) (Round to the

Your grandfather put some money in an account for you on the day you were born. You are now 16 years old and are allowed to withdraw the money for the first time. The account currently has $5,311 in it and pays an 11% interest rate. a. How much money would be in the account if you left the money there until your 25th birthday? b. What if you left the money until your 65th birthday? c. How much money did your grandfather originally put in the account? a. How much money would be in the account if you left the money there until your 25th birthday? If you left the money there until your 25th birthday, the amount in the account would be $ nearest cent.) (Round to the

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

How much will Larissa have in her savings account 10 years from now, if she deposits the $5817 that her grandfather gave her at 5% interest rate, compounded annually? Round your answer to 2 decimal places and do not enter any symbols such as $, % or commas. Answer: 8725.50
10. I have $72,000 in my bank account today. The bank manager told me that I will have $100,000 money in five years if I keep the money in this account and don’t touch it (meaning that I won’t withdraw from it or don’t add more into it). The account pays me daily interest. What is the APR for my account? (Show Work)
A person wishes to get 800$ at the end of second year and 900$ at the end of fifth year, if rate of interest is 12% how much he has to deposit in the bank today? Select one: a. 1220$ b. 1271$ c. 1160$
A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $40,000 saved up for when she goes to college in 16 years, assuming the account earns a 4% return.
Hi, How do I solve for the 2 annuities in this question? Thanks
To capitalize on all the money he earned as a teenager, Justin has $500,000 that he wants to invest into an account a.) How much money does Justin have after 10 years if the account earns 5% interest compounded continuously? b.) How long will it take for Justin's money to grow to 2,000,000?
When you were born, your dear old Aunt Minnie promised to deposit $1,000 in a savings account for you on each and every one of your birthdays, beginning with your first. The savings account bears a 7 percent compound annual rate of interest. You have just turned25 and want all the cash. However, it turns out that dear old (forgetful) Aunt Minnie made no deposits on your seventh, and eleventh birthdays. How much is in the account now – on your twenty-fifth birthday
Your father helped you start saving $25 a month beginning on your fifth birthday. He always made you deposit the money into your savings account on the first day of each month just to "start the month out right." Today completes your 15th year of saving and you now have $6,528.91 in this account. What is the rate of return on your savings? 4.67% O 5.30% 5.87% 4.98% O 6.12%
Kk.121. You just turned 22 years old and want to retire when you turn 65. You plan to put $4,000 every year into a ROTH IRA, a retirement account from which you can withdraw money after retirement without having to pay any taxes. You expect to earn a return of 4% on your investments every year. How much money can you expect to have at age 65 if you make your first annual deposit now and your last one on the day you turn 64?
Assuming you made all the weekly payments for 12 years and left the money in the account without making any additional payments or withdrawals, how much did you pay into your retirement account over the 47 years? Assuming you made all the weekly payments for 12 years and left the money in the account without making any additional payments or withdrawals, how much interest did you earn over the 47 years?
When you were born, your dear old Aunt Minnie promised to deposit $1,000 into a savings account bearing a 5% compounded annual rate on each birthday, beginning with your first. You have just turned 22 and want the dough. However, it turns out that dear old (forgetful) aunt Minnie made no deposits on your third, fifth, and eleventh birthdays. How much is in the account right now?
A trustworthy friend asks to borrow money from you today. She promises to pay you exactly $3750 in 2 years, and she insists on your earning the same interest rate on your loan to her as you would have earned keeping your money in your savings account that earns 1 %. How much can you lend her today?

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