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
Answer part second.
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Transcribed Image Text:-1
F = D
F-14 Compound
Interest Formula
Annuity
1. Ralph has decided to deposit $400 into his savings account each month, His bank is paying 2.1170
compounded monthly. How much money will he have in his account 12 years from today?
2. Alice wants to have $90,000 ten years from now. If her bank is paying 4.12% and compounds
weekly, how much money must she deposit today?
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