Your mom just checked on findmassmoney.gov and found out that she has unclaimed property that is worth $3022.41 today. She figured out that she had invested $1147 years ago and she calculated that she earned a return of 28.46% on her money. How many years ago did your mom invest that money? Answer:

Your mom just checked on findmassmoney.gov and found out that she has unclaimed property that is worth $3022.41 today. She figured out that she had invested $1147 years ago and she calculated that she earned a return of 28.46% on her money. How many years ago did your mom invest that money? 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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Similar questions

1. What is the total balance in the account after 40 years? 2. How much of the total did Pamela contribute herself? 3. How much money did Pamela make through compounded return in this investment account?
Please answer with explanation. I will really upvote. Thanks
Peggy just won the lottery! She could either receive $75,000 today or $1,000,000 in 40 years. At what rate of interest, compounded annually, would Peggy be indifferent between accepting the lottery winnings of $75,000 today and investing it on her own? A) 6.7%B) 6.1%C) 5.5%D) 2.4%
Your mom just checked on findmassmoney.gov and found out that she has unclaimed property that is worth $3015.54 today. She figured out that she had invested $866 years ago and she calculated that she earned a return of 28.08% on her money. How many years ago did your mom invest that money? Include up to 2 decimal places.
Mrs Galicia gave her sisters $3000 each to invest. The investment will last 8 years. The table shows what each sister did with their investment and how it changed over 8 years. Use the chart to answer the following questions please 1. What is the balance of Michelle's $3000 after 8 years? 2. What is the balance of Kristen's $3000 after 8 years? 3. What is the balance of Gabriella's $3000 after 8 years? 4. What is the balance of Judy's $3000 after 8 years? 5. Who has the most money at the end of the 8 years? If i were to choose one of the options to use for my own money, which option should I choose?
An investment is now worth 46,200. You bought this investment 15 years ago for $5,000. What return did you earn in this investment?
Use a financial calculator or computer software program to answer the following questions: a) Melanie is trying to save money for retirement and has a future goal of $750,000 at the end of 20 years. Determine the present value of her goal using a discount rate of 12%. b) How would the present value change if the $750,000 is to be received at the end of 15 years instead? Explain the impact and show your work?
4. Twenty-five years ago, Jamie Lannister invested $10,000. Today that investment is worth $211,836. What annual rate of return did Lannister earn on his investment?
Several years ago, Bill Smith borrowed $125,000 to buy his house. He has a 15 year, monthly payment mortgage with an interest rate of 8.75 percent per annum. Bill is thinking about refinancing his house so he would like to know the payoff on his current loan. Assuming that he just made payment number 94, compute the payoff on Bill's loan. Round your answer to 2 decimal places; record your answer without commas and without a dollar sign.
A homeowner purchased a house 30 years ago by $85,000, today the house value is $140,000. What compounded annual interest rate was recover by the owner of the house?
This year 10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loan, the rest has been going towards interest. You see that you still have 120,730 left to pay on your loan. Your house is now valued at $180,000. how much of your original loan have you paid off?
You took out a mortgage on a new house 13 years ago. You bought the house for $300,000; the mortgage loan was $164,000. The original mortgage loan was 30 years. Payments are monthly in the amount of $782.96. What is your remaining balance?

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