A portfolio includes 3 investments: 1) $2500 in a GIC paying 4.2% compounded monthly for 5
Question:
A portfolio includes 3 investments:
1) $2500 in a GIC paying 4.2% compounded monthly for 5 years.
2) A $1900 CSB paying 4.9% compounded semi-annually for 4 years.
3) Weekly payments of $45 to an account paying 2.3% compounded weekly for 2 years.
What is total investment when all 3 investments have matured?
5.Now all 3 investments from question 4 are combined into a GIC paying 3.7% interest compounded annually for 5 years. What will be the future value of this portfolio at the end of the 5 year GIC?
6. Alfreds grandfather invested $500 at the end of each of the first 10 years of Alfreds life. The investment paid 4.5% compounded annually. Alfred plans on withdrawing the investment when he is 18 to use it for school. If the interest rate remained constant for the entire 18 years, how much will Alfred have?
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair