If you put $6,000 in a savings account that pays interest at the rate of 4 percent, compounded annually, how much will you have in 5 years? (Hint: Use the future value formula.) How much interest will you earn during the 5 years? If you put $6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after 5 years?
Answer to relevant QuestionsDescribe some of the short-term investment vehicles that can be used to manage your cash resources. What would you focus on if you were concerned that the financial crisis would increase inflation significantly?Briefly discuss how each of these purchase considerations would affect your choice of a car:a. Affordabilityb. Operating costsc. Gas, diesel, hybrid, or electric? d. New, used, or “nearly new”?e. Size, body style, and ...What are closing costs, and what items do they include? Who pays these costs, and when?Differentiate among conventional, insured, and guaranteed mortgage loans.Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Taylor family afford if their gross (before-tax) monthly income amounted to $4,000? Would it make any difference if they were already ...
Post your question