Question 7 Listen You have just deposited X dollars in your bank account that pays interest of 22 percent p.a. You discover that at the end of one year you have $ 21,859 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer: Answer Question 8 Listen You want to withdraw $ 23,714 from your account at the end of one year and $ 57,667 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 5 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
Question 7 Listen You have just deposited X dollars in your bank account that pays interest of 22 percent p.a. You discover that at the end of one year you have $ 21,859 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer: Answer Question 8 Listen You want to withdraw $ 23,714 from your account at the end of one year and $ 57,667 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 5 percent p.a. (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
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
Transcribed Image Text:Question 7
✔) Listen
You have just deposited X dollars in your bank account that pays interest of 22
percent p.a.You discover that at the end of one year you have $ 21,859 in the
account. What was X, that is, the amount of money that you deposited today?
(Record your answer without a dollar sign, without commas and round your answer
to 2 decimal places; that is, record $3,245.847 as 3245.85).
Your Answer:
Answer
Question 8
Listen
You want to withdraw $ 23,714 from your account at the end of one year and $
57,667 at the end of the second year. How much should you deposit in your account
today so that you can make these withdrawals? Your account pays 5 percent p.a.
(Record your answer without a dollar sign, without commas and round your answer
to 2 decimal places; that is, record $3,245.847 as 3245.85).
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