9 years of savings were made in a deposit account that pays 20% compound interest annually. The savings of the first year is 1090 $ and the amount of savings decreased by 216 $ every year. What is the future value of the accumulated money? A) 3,630.36 $ B) 3,560.96 $ C) 2,280,90 $ D) 3,360,16 $ E) 3.240,96

9 years of savings were made in a deposit account that pays 20% compound interest annually. The savings of the first year is 1090 $ and the amount of savings decreased by 216 $ every year. What is the future value of the accumulated money? A) 3,630.36 $ B) 3,560.96 $ C) 2,280,90 $ D) 3,360,16 $ E) 3.240,96

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

You deposit $6000 in an account earnings 7% interest compounded monthly. How much you will you have in the account account in 16 years?
Determine the interest earned after 8 years if $3000 is invested in each of the following accounts. A) an account earning 5.29% interest compounded daily B) an account earning 5.14% simple interest
- In how many years will it take $17804accumulate to $33482 when you deposited in a savings account that earns 3% compounded annually? - A debt of $15,000 was paid for as follows: $4,000 at the end of 3 months, $5,000 at the end of 12 months, $3,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest was 18% compounded quarterly., find the final payment F.
You plan to withdraw the amounts given below over the next five years from a savings account that earns 9% interest compounded annually, how much do you need to deposit now? End of Year 1 $0.00 Year 2 $24,000.00, Year 3 $14,000.00 Year 4 $26,000.00 Year 5 $42,000.00
You put $10,000 in an account earning 5%. After 4 years, you make another deposit into the same account. Four years later (that is, 8 years after your original $10,000 deposit), the account balance is $22,000. What was the amount of the deposit at the end of year 4?
Your savings account pays 4% interest on the $40,000 you deposited at time 0. Inflation was 3% for 4 years and then 2% for 6 years. How much is in the account after 10 years in year-10 dollars? How much is that in year-0 dollars? What has been your real rate of return?
What is the future worth of a series of equal year-end deposits of $3,000 for 15 years in a savings account that earns 9% annual interest if the following were true? (a) All deposits arc made at the endof each year? (b) All deposits are made at the beginning of each year?
3. Suppose that $8000.00 was invested in a savings account that paid 2.5% interest compounded quarterly. How much interest would be earned after 3 years? Be sure to show all of your work.
You put 250.00 in a bank for 5 years at 12%. If intrest is added at the end of the year, what is the balance at the end of the 5th year?
Find the final amount of money in an account if $4,900 is deposited at 4.5% interest compounded weekly and the money is left for 9 years
Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment? $10,155.68 $10,690.19 $11,252.83 $11,845.09 $12,468.51
Every year for 10 years starting year 3, you deposit $1000 in a savings account that earns 7% yearly. What is the present value of this series? 6,134.67 7,023.58 36,436.26 70,893.54

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