You deposit $1,900 into an account that. to use How! pays 7⁰% this amount at the end of 5 years. per year. Your plan is to withdraw for a down payment on a new car. much will you be able to withdraw at " the end of 5 years? Do not round intermediate calculations. Rand your answer to the nearest cent. 12 on 12% amual return. Today you invest a lump sum amount in on equity find that provides You would like to have $11, 500 in 6 years to help with a down payment for a home. How much do need to deposit todez you to reach your $11, 500 goal? Do not round intermediate calculations. Round to the nearest cent your answer
You deposit $1,900 into an account that. to use How! pays 7⁰% this amount at the end of 5 years. per year. Your plan is to withdraw for a down payment on a new car. much will you be able to withdraw at " the end of 5 years? Do not round intermediate calculations. Rand your answer to the nearest cent. 12 on 12% amual return. Today you invest a lump sum amount in on equity find that provides You would like to have $11, 500 in 6 years to help with a down payment for a home. How much do need to deposit todez you to reach your $11, 500 goal? Do not round intermediate calculations. Round to the nearest cent your answer
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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Transcribed Image Text:How
You deposit $1,900 into an account that.
pays 7⁰% per year. Your plan is to withdraw
this amount at the end of 5 years to use
for a down payment on a new car.
much will you be able to withdraw at
the end of 5 years? Do not round intermediate
calculations. Rand your answer to the nearest
cent.
12
Today you invest a lump sum amount in an
equity find that provides on 12% annual return.
You would like to have $11,500 in 6 years
to help with a down payment for a home
How much do
you need to deposit today
to reach your $11, 500 goal? Do not round
intermediate calculations. Round
to the nearest cent
your answer
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