Suppose you save $4,000 per year at the beginning of each year for 3 years and earn 5% interest per year. How much will you have at the end of 3 years?
Suppose you save $4,000 per year at the beginning of each year for 3 years and earn 5% interest per year. How much will you have at the end of 3 years?
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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26. Suppose you save $4,000 per year at the beginning of each year for 3 years and earn 5% interest per year. How much will you have at the end of 3 years? Compare this answer with question no. 24 and give comments.
27. Suppose you save $4,000 per year at the beginning of each year for 10 years and earn 8.5% interest per year. How much will you have at the end of 10 years? Compare this answer with question no. 25 and give comments.
28. A person deposited Rs.5000 at the end of six months in each of the next five years. Bank offered rate is 10%. Calculate how much he has at the end of five years.
29. A person saved Rs.2500 at the end of each month in the next three years. Bank offered rate is 12.25%. Calculate how much he has at the end of three years.
34. Suppose you save $2,000 per year at the beginning of each year for 15 years and earn 7.49% interest per year. How much will you have at the end of 15 years?
35. Suppose you save $1,000 per year at the beginning of each year for 15 years and earn 7.49% interest per year. How much will you have at the end of 15 years?
38. Suppose you can save $100 per year at the end of each year for 10 years and earn 5.45% interest per year. However, you cannot start saving for four years. How much will you have at the end of 14 years?
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