Question

PLEASE SHOW WORK FOR THE QUESTIONS BELOW

Question 1

If you invest $14,441 today at an interest rate of 5.99 percent, compounded daily, how much money will you have in your savings account in 3 years? Round the answer to two decimal places.

Question 2

To what amount will the following investment accumulate?
$38,756, invested today for 19 years at 10.42 percent, compounded monthly. Round the answer to two decimal places.

Question 3

You placed $4,067 in a savings account today that earns an annual interest rate of 16.00 percent, compounded semiannually. How much will you have in this account at the end of 27 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.

Question 4

Stephen plans to purchase a car 4 years from now. The car will cost $67,785 at that time. Assume that Stephen can earn 5.06 percent (compounded monthly) on his money. How much should he set aside today for the purchase? Round the answer to two decimal places.

Question 5

John plans to buy a vacation home in 3 years from now and wants to have saved $44,562 for a down payment. How much money should he place today in a saving account that earns 9.20 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal places

Question 6

Camila plans to go for vacation to Australia in 5 years from now. She estimates that she will need $26,524 for the trip. How much does she need to place in a saving account today that earns 6.41 percent per year (compounded quarterly) to accumulate this amount?

Round the answer to two decimal places

Answer 1

Q1

Q2

Compounded Monthly

Q3

Compounded Monthly

Q4

Compounded Monthly

Please ask Q5 & 6 separately as we are supposed to answer only 4 questions in a single window.