1)If you invest $150 monthly in an individual retirement account (IRA) for a decade with a monthly compound interest rate of 1%. What will be the return after ten years? Please draw the cash flow diagram and use Excel macro to find the answer. 2)If the interest rate drops to .5% per month, what will be the amount of money you need to invest every month to get the same return in (1), but at the end of five years? Please use Excel macro to find the answer.
1)If you invest $150 monthly in an individual retirement account (IRA) for a decade with a monthly compound interest rate of 1%. What will be the return after ten years? Please draw the cash flow diagram and use Excel macro to find the answer. 2)If the interest rate drops to .5% per month, what will be the amount of money you need to invest every month to get the same return in (1), but at the end of five years? Please use Excel macro to find the answer.
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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1)If you invest $150 monthly in an individual retirement account (IRA) for a decade with a monthly
2)If the interest rate drops to .5% per month, what will be the amount of money you need to invest every month to get the same return in (1), but at the end of five years? Please use Excel macro to find the answer.
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