Question

PART 2: FINANCE

a) If you deposit $23,596.00 at 13.23% annual interest compounded quarterly, how much money will be in the account after 4 years?

b) If you deposit $1036.00 into an account paying 5.46% annual interest compounded monthly, how many years until there is $19,912.00 in the account?

c) What is the value today of receiving a single payment of $55,961.00 13 years if your required rate of return on this investment is 14.25% compounded semi-annually?

d) If you deposit $722.00 at 4.43% annual interest compounded daily, how much money will be in the account after 13 years? (Assume that there are 364 days in a year and show your answer to the nearest cent.)

e) Suppose you deposit $461.00 today, $370.00 in one year, and $677.00 in two years in an account that pays an annual rate of interest of 9.95%. How much money will be in the account after three years.

Answer 1