Suppose you have $2,300 and plan to purchase a 10-year certificate of deposit (CD) that pays 10.4% interest, compounded annually. How much will you have when the CD matures? O a. $2.539.20 O b. $6.896.80 O C. $6.186.12 O d. $6.339.32 Oe. $5,603.37
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Suppose you have $1,000 and plan to purchase a 1-year certificate of deposit (CD) that pays 0% interest, compounded annually. How much will you have when the CD matures?Suppose you currently have $20,000 and plan to purchase a 8-year certificate of deposit (CD) that pays 6% interest, compounded annually. How much will you have when the CD matures?
- Your bank offers a 10-year certificate of deposit (CD) that pays 6.5% interest, compounded annually. If you invest $2,000 in the CD, how much will you have when it matures? $3,754.27 $3,941.99 $4,139.09 $4,346.04 $4,563.34When you buy a certificate of deposit (CD), you are investing your money in an account that earns interest for a specific period of time. A CD matures when it has been invested for the required amount of time. Assume that you have $2300 to invest in a 5-year CD with an APR of 3% compounded daily. When the CD matures, how much interest will you have earned? Round your result to the nearest cent. $Assume you deposit $1,000 today in an account that pays 8 percent interest (compounded annually). How much will you have in four years? Group of answer choices $1,320 $1,360.50 $1,080 $735.02
- Your bank offers to lend you $120, 000 at an 8.25% annual interest rate to start your new business. The terms require you to amortize the loan with 10 equal end-of-year payments. How much interest would you be paying in Year 2? a. $5,904.06. b. $8,487.08 0 c. $6,642.06• d. $7,011.07. e. $9224.68If you deposit $3,500 monthly into a savings account which earns 8.25% interest rate compounded annually, how much will you have after 8 years of saving? O a. $633,523 O b. $37,566 O c. $473,672 O d. $450,793 O e. $557,760You are able to make a current deposit in the amount of $21,605.49. The expected discount rate is 9.6%. Interest is earned on an annual basis. The time period is 10 years. What is the size of the annual withdrawal possible under these circumstances? a. $2,160.54 b. $3465.00 c. $3,456.00 d. $4,356.00