Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $24,000 18 5 annually $ $
Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $24,000 18 5 annually $ $
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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Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.)
| Principal | Time Period (years) |
Nominal Rate (%) |
Interest Compounded |
Compound Amount |
Compound Interest |
|---|---|---|---|---|---|
| $24,000 | 18 | 5 | annually | $ | $ |
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TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
1%
Periods
1%
2%
3%
4%
5%
6%
7%
8%
Periods
1.00500
1.01000
1.01500
1.02000
1.03000
1.04000
1.05000
1.06000
1.07000
1.08000
1
2
1.01003
1.02010
1.03023
1.04040
1.06090
1.08160
1.10250
1.12360
1.14490
1.16640
2
3
1.01508
1.03030
1.04568
1.06121
1.09273
1.12486
1.15763
1.19102
1.22504
1.25971
3
4
1.02015
1.04060
1.06136
1.08243
1.12551
1.16986
1.21551
1.26248
1.31080
1.36049
4
1.02525
1.05101
1.07728
1.10408
1.15927
1.21665
1.27628
1.33823
1.40255
1.46933
1.06152
1.07214
1.50073
1.60578
6
1.03038
1.09344
1.12616
1.19405
1.26532
1.34010
1.41852
1.58687
6.
7
1.03553
1.10984
1.14869
1.22987
1.31593
1.40710
1.50363
1.71382
7
8
1.04071
1.08286
1.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819
1.85093
8.
1.04591
1.09369
1.14339
1.19509
1.30477
1.42331
1.55133
1.68948
1.83846
1.99900
10
1.05114
1.10462
1.16054
1.21899
1.34392
1.48024
1.62889
1.79085
1.96715
2.15892
10
11
1.05640
1.11567
1.17795
1.24337
1.38423
1.53945
1.71034
1.89830
2.10485
2.33164
11
12
1.06168
1.12683
1.19562
1.26824
1.42576
1.60103
1.79586
2.01220
2.25219
2,51817
12
13
1.06699
1.13809
1.21355
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985
2.71962
13
14
1.07232
1.14947
1.23176
1.31948
1.51259
1.73168
1.97993
2.26090
2.57853
2.93719
14
15
1.07768
1.16097
1.25023
1.34587
1.55797
1,80094
2.07893
2.39656
2.75903
3.17217
15
16
1.08307
1.17258
1.26899
1.37279
1.60471
1.87298
2.18287
2.54035
2.95216
3.42594
16
17
1.08849
1.18430
1.28802
1.40024
1.65285
1.94790
2.29202
2.69277
3.15882
3.70002
17
18
1.09393
1.19615
1.30734
1.42825
1.70243
2.02582
2.40662
2.85434
3.37993
3.99602
18
19
1.09940
1.20811
1.32695
1.45681
1.75351
2.10685
2.52695
3.02560
3.61653
4.31570
19
20
1.10490
1.22019
1.34686
1.48595
1.80611
2.19112
2.65330
3.20714
3.86968
4.66096
20
21
1.11042
1.23239
1.36706
1.51567
1.86029
2.27877
2.78596
3.39956
4.14056
5.03383
21
22
1.11597
1.24472
1.38756
1.54598
1.91610
2.36992
2.92526
3.60354
4.43040
5.43654
22
23
1.12155
1.25716
1.40838
1.57690
1.97359
2.46472
3.07152
3.81975
4.74053
5.87146
23
24
1.12716
1.26973
1.42950
1.60844
2.03279
2.56330
3.22510
4.04893
5.07237
6.34118
24
25
1.13280
1.28243
1.45095
1.64061
2.09378
2.66584
3.38635
4.29187
5.42743
6.84848
25
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