You want to have $50,000 in 5 years. How much must you deposit each QUARTER in an account paying 10% compounded quarterly to reach this goal in 5 years? (Round to the nearest cent.) How much is your total contribution? (Round to the nearest cent.) How much interest did you earn for this investment? (Round to the nearest cent.)
You want to have $50,000 in 5 years. How much must you deposit each QUARTER in an account paying 10% compounded quarterly to reach this goal in 5 years? (Round to the nearest cent.) How much is your total contribution? (Round to the nearest cent.) How much interest did you earn for this investment? (Round to the nearest cent.)
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
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You want to have $50,000 in 5 years.
How much must you deposit each QUARTER in an account paying 10% compounded quarterly to reach this goal in 5 years? (Round to the nearest cent.)
How much is your total contribution? (Round to the nearest cent.)
How much interest did you earn for this investment? (Round to the nearest cent.)
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