#2 Q #3 #4 Derek wants to withdraw $14,858.00 from his account 3.00 years from today and $13,604.00 from his account 12.00 years from today. He currently has $2,180.00 in the account. How much must he deposit each year for the next 12.0 years? Assume a 5.03% interest rate. His account must equal zero by year 12.0 but may be negative prior to that. Submit Answer format: Currency: Round to: 2 decimal places. Derek currently has $13,025.00 in an account that pays 4.00%. He will withdraw $5,617.00 every other year beginning next year until he has taken 4.00 withdrawals. He will deposit $13025.0 every other year beginning two years from today until he has made 4.0 deposits. How much will be in the account 27.00 years from today? Submit Answer format: Currency: Round to: 2 decimal places. Derek can deposit $279.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 12.00% and compounds interest monthly. Derek can deposit $2,462.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years? Submit unanswered not_submitted Attempts Remaining: Infinity unanswered not submitted Attempts Remaining: Infinity G unanswered not_submitted Attempts Remaining: Infinity
#2 Q #3 #4 Derek wants to withdraw $14,858.00 from his account 3.00 years from today and $13,604.00 from his account 12.00 years from today. He currently has $2,180.00 in the account. How much must he deposit each year for the next 12.0 years? Assume a 5.03% interest rate. His account must equal zero by year 12.0 but may be negative prior to that. Submit Answer format: Currency: Round to: 2 decimal places. Derek currently has $13,025.00 in an account that pays 4.00%. He will withdraw $5,617.00 every other year beginning next year until he has taken 4.00 withdrawals. He will deposit $13025.0 every other year beginning two years from today until he has made 4.0 deposits. How much will be in the account 27.00 years from today? Submit Answer format: Currency: Round to: 2 decimal places. Derek can deposit $279.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 12.00% and compounds interest monthly. Derek can deposit $2,462.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years? Submit unanswered not_submitted Attempts Remaining: Infinity unanswered not submitted Attempts Remaining: Infinity G unanswered not_submitted Attempts Remaining: Infinity
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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Question
Transcribed Image Text:#2
# 3
#4
Derek wants to withdraw $14,858.00 from his account 3.00 years from today and $13,604.00 from his account 12.00
years from today. He currently has $2,180.00 in the account. How much must he deposit each year for the next 12.0
years? Assume a 5.03% interest rate. His account must equal zero by year 12.0 but may be negative prior to that.
Submit
Answer format: Currency: Round to: 2 decimal places.
Derek currently has $13,025.00 in an account that pays 4.00%. He will withdraw $5,617.00 every other year beginning
next year until he has taken 4.00 withdrawals. He will deposit $13025.0 every other year beginning two years from today
until he has made 4.0 deposits. How much will be in the account 27.00 years from today?
Submit
Answer format: Currency: Round to: 2 decimal places.
Derek can deposit $279.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next
month. Bank A pays 12.00% and compounds interest monthly. Derek can deposit $2,462.00 per year for the next 10
years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate
must Bank B pay for Derek to have the same amount in both accounts after 10 years?
Submit
Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal
format rounded to 6 decimal places (ex: 0.092434))
unanswered
not_submitted
Attempts Remaining: Infinity
unanswered
not submitted
Attempts Remaining: Infinity
unanswered
not submitted
Attempts Remaining: Infinity
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