Want to know the answer using simpleinterestHarry is depositing $979.34 into an investment account at the end of every month. After 5 yeors and 5 months, t's expected that his investment wingrow to $75,000. Round to two places after the decimal(a) What is the nominal rate of return he is expected to receive on his investmentP/YNPVPMTFVHarry will earn% compounded(b) what is the effective rate of return?NOMc/yEFFHarry's effective rate of return is

Deposits means the amount paid by the person in a specific account or an investment. When a person…

Horry is depositing $979.34 into an investment account at the end of every month. After 5 yeors and 5 months, it's expected that his investment wit grow to $75,000. Round to two ploces after the decimal (a) What is the nominal rate of return he is expected to receive on his investment P/Y PV PMT FV Harry will earn * compounded (b) what is the eftective rate of retum? NOM c/y EFF Harry's effective rate of return is

Horry is depositing $979.34 into an investment account at the end of every month. After 5 yeors and 5 months, it's expected that his investment wit grow to $75,000. Round to two ploces after the decimal (a) What is the nominal rate of return he is expected to receive on his investment P/Y PV PMT FV Harry will earn * compounded (b) what is the eftective rate of retum? NOM c/y EFF Harry's effective rate of return is

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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uestion 1: Solve the following TVM problems using Excel formulas. You MUST use Excel formulas (FV or PV) to receive credit. ou can assume that all payments are made at the beginning of the period and use "1" for the "type" argument in the formula. A. Suppose you invest 11,400 today. What is the future value of the investment in 29 years, if interest at 7% is compounded annually? B. Suppose you invest $ 11,400 today. What is the future value of the investment in 29 years, if interest at 7% is compounded quarterly? C. Suppose you invest $ 570 monthly. What is the future value of the investment in 29 29 years, if interest at + 5% is compounded monthly? 5 6 7 8 19 20 21 22 23 24 25 26 27 28 29 Question 1 Question 2 + Ready Accessibility: Investigate MAR 17 A 国 W X
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