Find the interest Thomas has started working, and he will be putting $100 aside, at the end of every month, to purchase a TV. Thomas needs exactly $1,255 to purchase a new TV in one year. The investment he is looking for should have how much interest? $0 $100 ? 12 Principal Present Value: Value of the money she invested today Payment: how much will paid per month Interest Rate Annual Rate ?9.72 (monthly 0.81) Periods Number of times interest is calculated Value of Investment $1,255

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
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Find the interest
Thomas has started working, and he will be putting $100 aside, at the end of every month, to purchase a TV.
Thomas needs exactly $1,255 to purchase a new TV in one year.
The investment he is looking for should have how much interest?
$0
$100
?
12
Principal
Present Value:
Value of the
money she
invested today
Payment: how
much will paid
per month
Interest Rate
Annual Rate
?9.72
(monthly
0.81)
Periods
Number
of times
interest is
calculated
$1,255
Value of Investment
$1,255 Future Value
Transcribed Image Text:Find the interest Thomas has started working, and he will be putting $100 aside, at the end of every month, to purchase a TV. Thomas needs exactly $1,255 to purchase a new TV in one year. The investment he is looking for should have how much interest? $0 $100 ? 12 Principal Present Value: Value of the money she invested today Payment: how much will paid per month Interest Rate Annual Rate ?9.72 (monthly 0.81) Periods Number of times interest is calculated $1,255 Value of Investment $1,255 Future Value
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