Chapter 5: Simple and Compound Interest - HomeworkScore: 50.42/10019/32 answeredQuestion 15How much would you need to deposit in an account now in order to have $2000 in the account in 15 years?Assume the account earns 6% interest compounded monthly. Round to the nearest cent.Submit Question80F1DILF2F3F4F5E7FE@%23$&2345678

Present value =Future value/(1+i)n

Chapter 5: Simple and Compound Interest - Homework Score: 50.42/100 19/32 answered Question 15 How much would you need to deposit in an account now in order to have $2000 in the account in Assume the account earns 6% interest compounded monthly. Round to the nearest cent.

Chapter 5: Simple and Compound Interest - Homework Score: 50.42/100 19/32 answered Question 15 How much would you need to deposit in an account now in order to have $2000 in the account in Assume the account earns 6% interest compounded monthly. Round to the nearest cent.

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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= Homework: Homework 3 Question 4, 7.1e > Using the simple interest formulal=Prt, compute the amount of interest earned on $401.00 at 7.49% p.a. from August 30, 2006 to December 28, 2006. The interest earned was $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Excel Skills 7. Solve the follow sections: a. Complete the following spreadsheet, showing how much will be in your bank account if you deposit an initial deposit (cell B2) today and it draws annual interest given in cell B1. Interest 2 Initial deposit 3 4 5 6 7 A 8 9 10 Year " 0 1 23 4 5 B b. Graph the results of the bank account. 8% $155 In bank account.
E Homework: Homework 3 Question 7, 7.3.1 > Suzette invested $934.00 in a 95-day term deposit at 7.19% p.a. Using the future value formula, S=P(1+ rt), determine how much the investment will be worth at maturity. The future value is s (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
> Question 7 After making 19 payments on a 60-month, $10,000 car loan with APR of 4%, what is the outstanding balance on the loan? Round your answer to the nearest cent (one-hundredth). Do not include the dollar sign, $.
Problem #7: You deposit P dollars into an account that earns a nominal rate of i compounded semiannually. At the same time, you deposit 2.2P dollars into an account that earns simple interest at an annual rate of i. If both deposits earn the same amount of interest in the last 6 months of year 8, what is a Problem #7: Answer as a percentage, correct to 2 decimals.
CR Business Mathematics Section 2CR / Simple Interest / Lesson 63 # 7. A 180-day simple interest loan in the amount of $16, 400 will be paid in full in the amount of $16, 851. Find the interest rate of the loan. Use the banker's method, which uses 360 days in a year. All ch OR=5.5% OR=6.0% OR=4.5% OR=5.0% Type here to search F4 O 2: F5 01 F6 DELL F7 FB F9 F10 PREVIOUS 7 of 18 Amberly as20157 F12 NEXT 184& 10 5/
Question 7 ✔) Listen You have just deposited X dollars in your bank account that pays interest of 22 percent p.a.You discover that at the end of one year you have $ 21,859 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer: Answer Question 8 Listen You want to withdraw $ 23,714 from your account at the end of one year and $ 57,667 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 5 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).

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