Assume you put $200 per month into a retirement account for 12 years, and the account has an APR of 3.05% compounded monthly What is the account balance at the end of the 12 years? Round your answer to the nearest cent How much of the money in the account at the end of the 12 years is your personal investifient, meaning that the money came directly from you? How much of the money in the account at the end of the 12 years is interest? S What percentage of the account balance after 12 years is interest? Hint: The percentage of interest in the account is equal to the amount of the account balance that is interest divided by the base account balance Multiply that result by 100 to get a percentage Round your percentage to one decimal place
Assume you put $200 per month into a retirement account for 12 years, and the account has an APR of 3.05% compounded monthly What is the account balance at the end of the 12 years? Round your answer to the nearest cent How much of the money in the account at the end of the 12 years is your personal investifient, meaning that the money came directly from you? How much of the money in the account at the end of the 12 years is interest? S What percentage of the account balance after 12 years is interest? Hint: The percentage of interest in the account is equal to the amount of the account balance that is interest divided by the base account balance Multiply that result by 100 to get a percentage Round your percentage to one decimal place
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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Hello sir its, 3.05% compounded monthly and 12 years everywhere, pls do all parts and not handwritten.
Transcribed Image Text:Assume you put $200 per month into a retirement account for 12 years, and the account has an APR of 3.05% compounded monthly
What is the account balance at the end of the 12 years? Round your answer to the nearest cent
$
How much of the money in the account at the end of the 12 years is your personal investifient, meaning that the money came directly from you?
$
How much of the money in the account at the end of the 12 years is
$
What percentage of the account balance after 12 years is interest?
Hint: The percentage of interest in the account is equal to the amount of the account balance that is interest divided by the base account balance. Multiply that result by 100 to get a percentage
Mound your percentage to one decimal place
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