Muhammad opens a bank account paying i(4) = 7.250%. 1 year later, he has $5,139.38 in his account. How much money did he deposit in the account at the start? (No dates or daycount convention are given, so use theoretical time; i.e. 1 year = 365 days = 52 weeks = 12 months etc. and count time in periods. e.g. 3 weeks = 3/52 years; 3 months = 0.25 years, etc.) a. $4,825.83 b. $4,783.07 c. $4,775.94 d. $4,804.45 e. $4,818.70

Muhammad opens a bank account paying i(4) = 7.250%. 1 year later, he has $5,139.38 in his account. How much money did he deposit in the account at the start? (No dates or daycount convention are given, so use theoretical time; i.e. 1 year = 365 days = 52 weeks = 12 months etc. and count time in periods. e.g. 3 weeks = 3/52 years; 3 months = 0.25 years, etc.) a. $4,825.83 b. $4,783.07 c. $4,775.94 d. $4,804.45 e. $4,818.70

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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Similar questions

Matty deposits $1,300.00 into a Savings Account at their bank. The annual compound interest rate 2%. How much interest did they earn after after 10 years? Enter answer in format: $ 00.00 Question 2 Suzy deposits $2,400.00 into a Savings Account at their bank. The annual compound interest rate 2.5%. How much interest did she earn after after 15 years? Enter answer in format: $ 00.00
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4. Stan has a bank account that earns him 0.05% each year. He wants to know how much money he will have in 5 years from a deposit made today. Inputs Process Outputs Pseudo Code: 1. Desk Check
Suppose a family is depositing money into a bank account continuously, and the account earns interest of 4% annually (compounded continuously). The family began their first year with $23, 000 in the account. Assuming they don't make any withdrawals, how much money is in the account after 4 years? Answer should be $26,990.75
Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each month, $130 is electronically debited from his checking account and placed into a savings account earning 6% interest compounded monthly. What is the value (in $) of Jorge's account after 16 months? (Round your answer to the nearest cent.)
Five years ago, you deposited $1,000 in a bank account. One year ago, you deposited $2,000 in the same bank account. Assuming no other deposits and no withdrawals, what will be in the account 7 years from now? Assume an interest rate of 4%. Use the $ symbol and round to the nearest dollar...no decimal places...use a comma.
Morgana deposits £1000 into her bank account on the 1st of January every year with the first deposit being on 1st January 2016. The bank adds 3% interest to her deposit every 31st December. (a) Show that, after interest has been paid on 31st of December 2018, the balance in her account (assuming no withdrawals and no other deposits during this time) is 1000 × 1.033 + 1000 × 1.032 + 1000 × 1.03 (b) During which year (assuming that she continues in this fashion and her bank continues to pay 3%) will her balance exceed £50,000?
Ten years ago, when Franco was still a college student, he deposited 10,000 in a bank. The bank's rate of interest on deposit is 2% compounded quarterly, what is the balance of Nigel's account today? No peso sign, with comma, no decimal point.
Suppose that before ATMs and credit cards, a person goes to the bank once at the beginning of each four-day period and withdraws from her savings account all the money she needs for four days. Assume that she spends $100 per day. Calculate the amount of money this person withdraws each time she goes to the bank.
A) What is the APR for purchases made using this credit card? B) What is the maximum amount that Marcus can put on this credit card? C) Did Marcus pay off the entire balance of his credit card last month? D) Suppose Marcus pays the minimum payment due this month, what will his new balance be, after this payment is processed and assuming he makes no additional purchases?
Mr. Nailor invests $21,000 in a money market account at his local bank. He receives annual interest of 7% for 6 years. How much return will his investment earn during this time period? Use Appendix A. (Round "FV Factor" to 3 decimal places.) $10,521 $29,205 $31,521 $13,986
Please answer only correct with explanation. Fast.

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