- If You Want To Have A Million Dollars 35 Years From Today How Much Should You Invest In Your Savings Account That Earns 1 (9.05 KiB) Viewed 32 times
An investment of $17,000 was growing at 5.75% compounded semi-annually. a. Calculate the future value of this investment at the end of year 1. $0.00 Round to the nearest cent b. If the interest rate changed to 6% compounded monthly at the end of year 1, calculate the future value of this investment at the end of year 4. $0.00 Round to the nearest cent c. Calculate the amount of interest earned from this investment during the 4-year period. $0.00 Round to the nearest cent
Calculate the future value of each of the following investments. Round the answers to the nearest cent Present Nominal Compounding Frequency Value Interest Rate $19,200 3.50% Annually $37,700 2.25% Semi-annually $15,000 5.75% Quarterly $37,750 2.50% Monthly 1. 2. 3. 4. Number of Compounding Periods 12 24 36 48 Future Value $0.00 $0.00 $0.00 $0.00
Olivia is expected to settle a loan on January 18th, 2019 by paying $6,500. What amount should she pay if she decides to settle it on April 7th, 2018 instead? The interest rate is 3.44% compounded quarterly. $0.00 Round to the nearest cent
On July 13th, 2013, Joseph invested $15,000 in a fund that was growing at 4% compounded quarterly. a. Calculate the future value of the fund on March 18th, 2014. $0.00 Round to the nearest cent b. On March 18th, 2014, the interest rate on the fund changed to 6% compounded monthly. Calculate the future value of the fund on January 18th, 2015. $0.00 Round to the nearest cent
An investment that has a maturity value of $3,800 and is discounted 5 years and 6 months before maturity at 3.40% compounded semi-annually. a. Calculate the discounted value of the investment. $0.00 Round to the nearest cent b. Calculate the amount by which the money is discounted. $0.00 Round to the nearest cent