a) How much will you have in the account in 35 years? LA b) How much total money will you put into the account? LA c) How much total interest will you earn? tA

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
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You deposit $470 each week into an account earning
2.3% interest compounded weekly.
a) How much will you have in the account in 35 years?
b) How much total money will you put into the
account?
c) How much total interest will you earn?
Transcribed Image Text:You deposit $470 each week into an account earning 2.3% interest compounded weekly. a) How much will you have in the account in 35 years? b) How much total money will you put into the account? c) How much total interest will you earn?
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  • Weekly deposit = $470
  • Interest rate = 2.3% compounded weekly
  • Period = 35 years

 

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