How much money will be accumulated at the end of the 2nd year in our account where we deposit 700 USD at the beginning of each year with 9% interest? a) 4599,67 b) 2750,25 c) 1594,67 d) 4200,25 e) 5381,25
How much money will be accumulated at the end of the 2nd year in our account where we deposit 700 USD at the beginning of each year with 9% interest? a) 4599,67 b) 2750,25 c) 1594,67 d) 4200,25 e) 5381,25
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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How much money will be accumulated at the end of the 2nd year in our account where we deposit 700 USD at the beginning of each year with 9% interest?
a) 4599,67
b) 2750,25
c) 1594,67
d) 4200,25
e) 5381,25
--------------------
How many USD should a person who constantly wants to receive 4500 USD at the end of each year invest in a bank that pays 12.5% interest today?
a) 24000
b)
40000
c) 10000
d) 36000
e) 28000
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