Seven years ago Ruby began depositing $500 at the beginning of each month into an account. The interest rate was 1.48% compounded monthly. Answer the following questions, and round all answers to two decimal places where necessary. Choose BGN or END? e 1) What is the present account balance P/Y= PV = $ P/Y= C/Y= PV = $ PMT= $ C/Y= N= 2) If she stops making deposits immediately, how much will be in the account in three and a half years from now, if the interest rate remains the same (1.48% compounded monthly)? PMT= $ FV = $ N= I/Y = FV = $ I/Y= % %
Seven years ago Ruby began depositing $500 at the beginning of each month into an account. The interest rate was 1.48% compounded monthly. Answer the following questions, and round all answers to two decimal places where necessary. Choose BGN or END? e 1) What is the present account balance P/Y= PV = $ P/Y= C/Y= PV = $ PMT= $ C/Y= N= 2) If she stops making deposits immediately, how much will be in the account in three and a half years from now, if the interest rate remains the same (1.48% compounded monthly)? PMT= $ FV = $ N= I/Y = FV = $ I/Y= % %
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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Transcribed Image Text:Seven years ago Ruby began depositing $500 at the beginning of each month into an
account. The interest rate was 1.48% compounded monthly. Answer the following
questions, and round all answers to two decimal places where necessary.
Choose BGN or END? Ⓒ
1) What is the present account balance
P/Y=
PV = $
esc
P/Y=
PV = $
Submit Question
1
C/Y=
2) If she stops making deposits immediately, how much will be in the account in three
and a half years from now, if the interest rate remains the same (1.48% compounded
monthly)?
F1
PMT= $
C/Y=
PMT= $
2
F2
N=
#3
N=
FV = $
80
F3
FV = $
I/Y =
Q
F4
I/Y =
%
9
F5
%
%
F6
F7
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