9. Suppose you need $1.000 ten years from now to settle your universityeducation fees. If the interest rate is 5.5%, how much should you deposittoday in the bank?a) $585.43b) $614.70O c) $645.44O d) $677.71e) None of the above 10. Royal Corp's sales last year were $560,000, and its net income was$46,000. What was its profit margin? *O a) 7.41%O b) 7.80%O c) 8.21%O d) 8.63%O e) None of the above

Answered: 9. Suppose you need $1,000 ten years…

9. Suppose you need $1,000 ten years from now to settle your university education fees. If the interest rate is 5.5%, how much should you deposit today in the bank? a) $585.43

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

9. Suppose you need $1.000 ten years from now to settle your university
education fees. If the interest rate is 5.5%, how much should you deposit
today in the bank?
a) $585.43
b) $614.70
O c) $645.44
O d) $677.71
e) None of the above

10. Royal Corp's sales last year were $560,000, and its net income was
$46,000. What was its profit margin? *
O a) 7.41%
O b) 7.80%
O c) 8.21%
O d) 8.63%
O e) None of the above

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