In 1896, the first Green Jacket Golf Championship was held. The winner's prize money was $200. In 2020, the winner's check was $2,460,000. a. What was the annual percentage increase in the winner's check over this period? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. b. If the winner's prize increases at the same rate, what will it be in 2050? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 1,234,567.89. > Answer is complete but not entirely correct. a. Annual percentage increase b. 2050 prize money 7.89✔ % $ 24,008,824.67 X

In 1896, the first Green Jacket Golf Championship was held. The winner's prize money was $200. In 2020, the winner's check was $2,460,000. a. What was the annual percentage increase in the winner's check over this period? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. b. If the winner's prize increases at the same rate, what will it be in 2050? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 1,234,567.89. > Answer is complete but not entirely correct. a. Annual percentage increase b. 2050 prize money 7.89✔ % $ 24,008,824.67 X

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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On September 8, Bert Sarkis started an annuity. He arranged to have $60 deducted from his end-of-month paychecks. The money would earn 7% interest compounded monthly. (a) Find the future value of the account on December 1 using an Amortization Formula. (Round your answer to the nearest cent.) $ 10280 X (b) Find the future value of the account on December 1 by applying the Compound Interest Formula to each payment individually. (Round your answer to the nearest cent.) 5.75 X (c) Find Bert's total contribution to the account. $ 2356.176 x (d) Find the total interest. (Round your answer to the nearest cent.) $ 7923.824 X
I need help figuring out which table to use in this question. Either: compound value, present value, amount of annuity, present value of annuity, or sinking fund. With the answer being $303.65. On February 11, Peg Carry borrowed $25,000 at 2.65% interest. Interest and principal are due on July 26. What is the interest cost? Use an ordinary method (360 days).
What is the future value of $3,500 in 19 years at an APR of 8.8 percent compounded semiannually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value
In 1904, the first Dalmore Championship was held. The winner's prize money was $100. In 2016, the winner's check was $1,171,000. (Do not round intermediate calculations.) a. What was the percentage increase per year in the winner's check over this period? Interest rate b. If the winner's prize increases at the same rate, what will it be in 2049? Future value
What is the present value of a $1,250 payment made in six years when the discount rate is 8 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Given a 6.25 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, 4 and 5 of $75,000, $92,000, $40,000, $10,000 and $20,000, respectively. Note: Do not round intermediate calculations and round your final answer to 2 decimal places.
Compute the present value of a $2,200 deposit in year 3, and another $1,700 deposit at the end of year 5 if interest rates are 8 percent. (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Present value
In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $160. In 2019, the winner's check was $1,400,000. a. What was the percentage increase per year in the winner's check over this period? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. If the winner's prize increases at the same rate, what will it be in 2050? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. 7.59 % a. Increase per year b. Winners prize in 2050 $ 13,522,505.56 Return to question
On September 1, 2010, you decided to put $15000 in a money market fund. On March 1, 2015, you deposit another $16000 and on Jan 1, 2018, you added another $ 18000. This fund pays interest at the annual rate of 7.2%, compounded monthly. Find the future value of the fund on January 1, 2019, one year after the third deposit.
What is the future value of $3,500 in 19 years at an APR of 8.8 percent compounded semiannually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Present Value of an Annuity On January 1, you win $2,900,000 in the state lottery. The $2,900,000 prize will be paid in equal installments of $290,000 over 10 years. The payments will be made on December 31 of each year, beginning on December 31 of the current year. If the current interest rate is 6%, determine the present value of your winnings. Use present value table. Round to the nearest whole dollar. $
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