Sue invested $5,000 eleven years ago at 10%. Terri has the same amount saved today as Sue has. Terri also earns 10% but she only invested $2,500. How long ago did Terri invest her money?
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![Sue invested $5,000 eleven years ago at 10%. Terri has the same amount saved
today as Sue has. Terri also earns 10% but she only invested $2,500. How long ago
did Terri invest her money?
17.1 years
17.4 years
17.9 years
18.3 years
None of the above](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ed4727b-f6f8-430c-b7dc-826452057821%2F0f42b87d-b16d-48a7-9465-d1e766b0aba1%2Fv8tn3xh_processed.jpeg&w=3840&q=75)
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- Your grandma invested some money 64 years ago into an account earning 4.91% per year, compounded quarterly. She now has $11804 in her account Round to the pekny. How much money did your grandam invest 64 years ago? $ a. b. How much interest did she earn on the investment? $Your grandma invested some money 64 years ago into an account earning 1.82% per year, compounded quarterly. She now has $18474 in her account Round to the penny. How much money did your grandam invest 64 years ago? $ 2.How much interest did she earn on the investment? $13 years ago, Sallie invested \$23{,}000.00$23,000.00 into a savings account. She now has \$33{,}091.00$33,091.00. What simple interest rate was her savings account earning? Assume the interest rate has not changed since the account was opened.
- Your older sister deposited $2500 today at 6.5 percent interest for 15 years. However, you can only earn 6.25 percent interest. How much more money must you deposit today than your sister did if you are to have the same amount saved at the end of the 15 years?Judy recently purchased her first home for $220,000. She made a down payment of $20,000, and financed the balance over 15 years, at 6% interest. If Judy's first payment is due on October 1 of this year, approximately how much interest will she pay inthis year? $2,073.47. $1,979.76 $3,288.63. $5,885.09.Jillian invested $2,000 six years ago at 4.5 percent interest. She spends all of her interestearnings immediately, so she only receives interest on her initial $2,000 investment. How muchinterest is she earning each year?
- Your great-grandmother saved $100 to deposit into an account when each of her children wasborn, including your grandfather. On his 70th birthday, the value of your grandfather'saccount was $278,780. What is the IRR of this investment over this 70-year period?a. 10%b. 18%c. 12%d. 2788%e. You cannot find the IRR without knowing the MARR firstTwo brothers, Mark and Charles, each inherit $30000$30000. Mark invests his inheritance in a savings account with an annual return of 3.1%3.1%, while Charles invests his inheritance in a CD paying 5.8%5.8%annually. How much more money than Mark does Charles have after 11year?Christina invested $3000 five years ago and earns 2 percent annual interest. By leaving her interest earning in her account, she increases the amount of interest she earns each year. The way she is handling her interest income is referred to as
- Five years ago, Teresa purchased an investment property for $189,795. He sold it today for $249,999. Based on this information, what was her annualized rate of return? 5.66% 7.59% 6.18% 5.75%Kate invested $1,200 4 years ago at 7% per year for 7 years. 2 years ago, she invested $2,000 at 6.3% for 5 years. If she needs $23,000 12 years from today, then what expected return must she obtain when she reinvests the proceeds from her two previous investments. Assume that she reinvests as soon as the money is received.Eve is 20 years old and wants to save $2 million for retirement at age 60. Assume she invests in a savings account that earns 5.1% interest compounded annually. How much does Eve need to invest to get started? $273,477.34 $27,347.73 $2734.77 $173,277.43
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