In 2010, a gold Morgan dollar minted in 1895 sold for $125,000. For this to have been true, what rate of return did this coin return for the lucky numismatist?
Answer to relevant QuestionsReferring to the TMCC security we discussed at the very beginning of the chapter:a. Based on the $24,099 price, what rate was TMCC paying to borrow money?b. Suppose that, on March 28, 2019, this security’s price is ...In the chapter, we gave several examples of so-called payday loans. As you saw, the interest rates on these loans can be extremely high and are even called predatory by some. Do you think such high interest loans are ...If you deposit $5,000 at the end of each of the next 20 years into an account paying 10.8 percent interest, how much money will you have in the account in 20 years? How much will you have if you make deposits for 40 years?What is the future value of $2,600 in 19 years assuming an interest rate of 7.9 percent compounded semiannually?You’re prepared to make monthly payments of $290, beginning at the end of this month, into an account that pays 7 percent interest compounded monthly. How many payments will you have made when your account balance reaches ...
Post your question