value of money
can you show me how to do this one too?
value of money
You want to have $1,000,000 in your bank account when you turn 65 years old. Today is your 20th birthday. As a birthday present you received $27,000 and you want to invest this amount. At what annual interest rate must you achieve to realize this goal?
value of money
At what annual nominal rate of interest will $6,900 earn $6,400 interest in five years?
value of money
At 16% compounded quarterly, how long would it take for money to triple?
value of money
Suppose you had three different offers for your used car. One person will give you $1,000 right now, another offers $1,200 six months from now and the other offers $1,600 two years from now. If interest is 16% compounded quarterly, which offer is worth the most.
value of money
Billy Burnett's grandfather willed Billy $10,000 payable on his twenty-first birthday. What will be the value of the bequest when Billy reaches 17 years of age if money is worth 8% compounded semi-annually?
value of money
Which is a better rate of interest, 16% compounded quarterly or 16 1/4% compounded semi-annually?
value of money
A deposit of $2,000 earns interest at a rate of 14% compounded quarterly. After two and a half years the interest rate changes to 13.5% compounded monthly. How much is in the account after six years?
value of money
Deposits of $1,000, $1,100 and $680 were made into a savings account, the first two years ago, the second 18 months ago, the third 6 months ago. How much is in the account now if the interest on all deposits is 12% compounded semi-annually?
value of money
Find the compound amount if $6,400 is invested for 2 years at 12% compounded monthly. What difference would compounding daily make in this example?
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