Sandra plans to retire and can receive a lump sum of $26,376 from herpension provider.She decides to investof the lump sum for 8 years and use the rest for3travelling.Her bank account pays 4.99% compound interest per annum.How much interest will Sandra receive from this investment after 8 years?Round your answer to the nearest thousand dollars.%24

interest can be calculated from future value and present value =Difference between future value and…

Answered: travelling. Her bank account pays 4.99%…

travelling. Her bank account pays 4.99% compound inter How much interest will Sandra receive from th Round your answer to the nearest thousand de

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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Similar questions

17)Would love the help.
If Rita receives $41.64 interest for a deposit earning 7% simple interest for 170 days, what is the amount of her deposit? (round your answer to the nearest cent.)
Ee 332.
40. Josh has a savings account at a bank that charges a $12 fee for every monththat his balance falls below $1,000. His account has a balance of $1,526.23and he withdraws $700. What will his balance be in six months if he makes nodeposits nor withdrawals?A. $811.12B. $754.23C. $1,451.12D. $799.12
Blake Hamilton has money in a savings account that earns an interest rate of 6.5% monthly. What is the effective rate of interest on Blake's savings. Select the correct response: 6.53% 6.697% O 7.2% 7%
You have collected $8,342 Your banker states that if you deposit these funds in her institution they will accumulate to $16,786 In twelve years. What is the implied rate that she is paying on this deposit? 50% 12% 5% 6%
3) Your father planned for your study at BUC and saved for 5 years before your registration OMR 1200 each year at Nizwa Bank. Suppose that the Interest Rate on such deposit was 11% annually. Questions: a. Set up the time line b. What is the FV of those payments?
If Rita receives$45.44interest for a deposit earning4%simple interest for 130 days, what is the amount of her deposit? (Round your answer to the nearest cent.) $___________.
2. When you were born, your dear old Aunt MsRahat promised to deposit Rs2700 in asavings account for you on each and everye of your birthdays, beginning with yourfirst. The savings account bears a 6 percentcompound annual rate of interest. You havejust turned 30 and want all the cash. However,it turns out that dear old (forgetful) Aunt MsRahat made no deposits on your eighth,eighteenth, twenty second and twenty seventhbirthdays. How much is in the account nowon your thirtieth birthday?3. Sales of the Master Company were Rs.350,000 this year, and they are expected togrow at a compound rate of 15 percent for thenext ninth years. What will be the sales figureat the end of each of the next ninth years?4. A 5 year loan of Rs. 1500,000 with equalinstalment payments at the end of each year.The interest rate is 9% Per year. Establish loanamortization schedule.
5. You take $100 to your local savings bank to invest for five years. You are given the choice of two investments by the banker Notifications Time Left 00:00:28 ? Guide Me 1. You can Invest in a regular savings account that pays you 14.00% interest each year with interest compounded annually. That is each year the interest you can gets deposited in your bank account and earns interest until the end of the five years. it. You can invest in a special account that pays you 20.00% interest each year, the catch is that the interest does not compound, Rattier each year the interest payrrient is put into a special account which collects no further interest and cannot be reinvested anywhere until the end of the five years Which option should you select and why? a, Select Option i: It earns $44.63 more than Optianill b. Both Options earn you the same amount of money so you are indifferent between the two c. Select Option it It earns $7.46 more than Option d. Select Option it It earns $30.00…
uestion 20 The manager of Cougar Fund needs to withdraw $35,000 seven years from today. If her account earns 7 percent compounde O $21,796.24 O $3,271.03 O $32,710.28 O None of the listed items is correct O $8,028.91 A Click Submit to complete this assessment. MacBook Air F1 F2 F3 F4 F5 F6 F7 #3 3 $ & 2 7 Q W E R Y A S D F G
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