7 Celia is planning to invest $20000 in theUnited States. The inflation rate is projectedto be 2.1%. She found an investmentscheme in a bank that pays a nominal annualinterest rate of 2.4% compounded monthly.a Determine the real interest rate she willreceive next year.b Determine the worth of her investmentalter one year.

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Answered: 7 Celia is planning to invest $20000 in…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Dustin deposits $800 at the end of every 3 months in an RRSP that is earning 5.10% compounded semi-annually. For the RRSP to accumulate to $33,000, calculate the following: a. How many deposits will she have to make? Round up to the next whole number b. How long will she have to make these deposits? years months Express the answer in years and months, rounded to the next payment period
Jacob wants to accumulate at least $45,000 by depositing $1,300 at the end of each month into a fund that earns interest at 4.75% compounded monthly. a. How many deposits does he need to make in order to reach his goal? 0 Round to the next payment b. How long will it take Jacob to reach his goal? o year(s) o month(s) Express the answer in years and months, rounded to the next payment period
Use the timeline below to help you! An employee is planning to retire in 10 years. To plan for this retirement, she deposits $1250 at the end of each month into a savings plan. The balance is then converted into a fund from which end-of-month withdrawals are made for the next 20 years. Money is worth 3.5% compounded monthly. What is the value of PV2? Select one: a. $126,408.36 b. $179,290.64 c. $12,665.35 d. $2,180,868.44
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3. Mona needs a loan of $7500 for 6 years. a. How much interest will each plan charge? Plan A: 10% per year, compounded semi-annually Plan B: 8.1% per year, compounded quarterly Plan A b. Calculate the difference in the amount of interest between the two plans. Which plan will require her to pay the least amount of interest? Mona should select: Plan A Plan B Plan B because it charges $ less interest.
5.PS-16 Question Help A shoe store uses a 60% markup for all of the shoes it sells. What would be the selling price of a pair of shoes that has a wholesale cost of $55? The selling price would be $ (Round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer. All narte chowing Review progress Question 9. of 9 pe here to search

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