1. In a bank account that pays interest 2% p.a, what should you deposit now to have a balance of £1,000 a year from now? £ Enter an answer correct to 2 decimal places. 2.a) You deposit £1,000 into a savings account, which pays compound interest at a rate of 5% per annum. How much money do you have after 4 years? £ Enter an answer correct to 2 decimal places. b) How many years must you wait to double your capital? years Enter an integer.
1. In a bank account that pays interest 2% p.a, what should you deposit now to have a balance of £1,000 a year from now? £ Enter an answer correct to 2 decimal places. 2.a) You deposit £1,000 into a savings account, which pays compound interest at a rate of 5% per annum. How much money do you have after 4 years? £ Enter an answer correct to 2 decimal places. b) How many years must you wait to double your capital? years Enter an integer.
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
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Transcribed Image Text:1. In a bank account that pays interest 2% p.a, what should you deposit now to have a balance of
£1,000 a year from now?
£
Enter an answer correct to 2 decimal places.
2.a) You deposit £1,000 into a savings account, which pays compound interest at a rate of 5% per
annum. How much money do you have after 4 years?
£
Enter an answer correct to 2 decimal places.
b) How many years must you wait to double your capital?
years
Enter an integer.
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