Question

Jack invests 1,000 at the end of each year for n years at an effective interest...

Jack invests 1,000 at the end of each year for n years at an effective interest rate of i. At the end of n years, it has accumulated to X.

Jill invests 2,000 at the end of each year for 2n years at an effective interest rate of i. At the end of 2n years, it has accumulated to 6X.

Junior invests 3,000 at the end of each year for 3n years at an effective interest rate of i. At the end of 3n years, it has accumulated to Y.

i > 0. Calculate Y.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Jim invests 2,000 at an effective annual interest rate of 17% for 10 years. Interest is...
Jim invests 2,000 at an effective annual interest rate of 17% for 10 years. Interest is payable annually and is reinvested at an annual rate of 11%. At the end of 10 years, Jim’s accumulated interest is 5685.48. Harold invests 150 at the end of each year for 20 years at an effective annual interest rate of 14%. Interest is payable annually and is reinvested at an effective annual interest rate of 11%. Calculate Harold’s accumulated interest at the end...
1) Jeff deposits 100 at the end of each year for 13 years into Fund X....
1) Jeff deposits 100 at the end of each year for 13 years into Fund X. Antoinette deposits 100 at the end of each year for 13 years into Fund Y. Fund X earns an annual effective rate of 15% for the first 5 years and an annual effective rate of 6% thereafter. Fund Y earns an annual effective rate of i. At the end of 13 years, the accumulated value of Fund X equals the accumulated value of Fund...
At what effective rate of interest will be present value of $1,000 at the end of...
At what effective rate of interest will be present value of $1,000 at the end of 2 years and $3,000 at the end of 4 years be equal to $10,000?
4. Jack Soothe invests $850 semiannually at 10% for 9 years at the beginning of each...
4. Jack Soothe invests $850 semiannually at 10% for 9 years at the beginning of each year. What will be the cash value of this annuity due at the end of the ninth year?
A worker invests £1000 at the end of each year for 10 years in a project...
A worker invests £1000 at the end of each year for 10 years in a project that grows at an annually compounded rate of 6%. Calculate the terminal value of the investment? [4] By what factor would your answer to (i) change if the investments were made at the beginning of the year? [1]   Use your answer to (i) to work out the principal, P that could be borrowed for 10 years at a compounded rate of 6% with equal,...
Jack has made deposits of $250 at the end of each month for 2 years into...
Jack has made deposits of $250 at the end of each month for 2 years into an investment fund paying interest at j4 = 8%. What monthly deposits for the next 12 months will bring the fund up to $10 000? The answer is 239.89 Idk what I'm doing wrong; First I convert the rate of interest, (1.02)^4 = (1 + i)^12 i= 1.006 % Then I accumulate this annuity using my Financial Calculator as following; i= 1.006 n= 24...
At the end of each year for the first 5 years, Cecil and Norma DeMille plan...
At the end of each year for the first 5 years, Cecil and Norma DeMille plan to contribute $1,000 to their daughter Sally's college fund. For the next 5 years they will contribute $2,000 at the end of each year, and then increase that amount to $3,000 until she turns 18 and is ready for college. What amount will they have accumulated for Sally's college fund if the account pays 6.35% annually?
At the end of each year for the first 5 years, Cecil and Norma DeMille plan...
At the end of each year for the first 5 years, Cecil and Norma DeMille plan to contribute $1,000 to their daughter Sally's college fund. For the next 5 years they will contribute $2,000 at the end of each year, and then increase that amount to $3,000 until she turns 18 and is ready for college. What amount will they have accumulated for Sally's college fund if the account pays 6.35% annually?
Max invests a fixed percentage of his salary at the end of each year. He started...
Max invests a fixed percentage of his salary at the end of each year. He started this year with $2,000. For the next 9 years he expects his salary to increase by 5% annually and he plans to increase his investment by the same rate. How much will the investment be worth after 10 years of investment if the interest rate is 7% per year? Please use compound interest tables to find your answer
How many years does it take for $1,000 grow to be $1,500, if interest rate is...
How many years does it take for $1,000 grow to be $1,500, if interest rate is 12% compounded monthly? BGN or END MODE ( choose one ) P/Y = N= ? I/Y= PV= PMT= FV= CPT , N = Can you explain how you computed it for compunded monthly. 2. How many years does it take for $1,000 to grow to be $1,500, if interest rate is 12%? BGN or END MODE ( choose one ) P/Y = N= ?...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT