For her 1st birthday Riley's parents invested $6,000.00 in an 14-year certificate for her that pays 11%compounded every 2 months. How much is the certificate worth on Riley's 15 birthday? Round value to thenearest cent.The certificate will be worth $ A 41-year old woman has $362,110.00 in an IRA account. Due to medical concerns of a family member, shedecided to make no additional contributions to the account but expect it to grow at 6% compounded every4 months. How much does she expect to have in the account when she retires at age 65? Round value tothe nearest cent.The IRA should be worth $

Future value refers to the value of an asset present today at some future date affected by interest…

For her 1st birthday Riley's parents invested $6,000.00 in an 14-year certificate for her that pays 11% compounded every 2 months. How much is the certificate worth on Riley's 15 birthday? Round value to the nearest cent. The certificate will be worth $

For her 1st birthday Riley's parents invested $6,000.00 in an 14-year certificate for her that pays 11% compounded every 2 months. How much is the certificate worth on Riley's 15 birthday? Round value to the nearest cent. The certificate will be worth $

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

For her 1st birthday Riley's parents invested $6,000.00 in an 14-year certificate for her that pays 11%
compounded every 2 months. How much is the certificate worth on Riley's 15 birthday? Round value to the
nearest cent.
The certificate will be worth $

A 41-year old woman has $362,110.00 in an IRA account. Due to medical concerns of a family member, she
decided to make no additional contributions to the account but expect it to grow at 6% compounded every
4 months. How much does she expect to have in the account when she retires at age 65? Round value to
the nearest cent.
The IRA should be worth $

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A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $41,000 when the child reaches the age of 18? Assume the money earns 7% interest, compounded quarterly. (Round your answer to two decimal places.)$ ??
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A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $42,000 when the child reaches the age of 18? Assume the money earns 5% interest, compounded monthly. (Round your answer to two decimal places.)
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Suppose Brianna invests $1300 each year for 5 years, in annuity that pays 6% annual interest, compounded annually. What percentage of the balance, after 5 years, is Brianna's contributions?
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