If you deposit $25,000 in a savings account that pays 12% interest compounded quarterly, for 8...

 

Transcribed Image Text:

If you deposit $25,000 in a savings account that pays 12% interest compounded quarterly, for 8 years. Find the future value at the end of eight years. You need $1,500,000 when you turn 67. Suppose you just turned to 22 today. If the discount rate is 8 percent, how much you need to deposit today. You have been offered an investment that will double your money in 15 years. What rate of return are you being offered? Given 12 percent interest rate, if you invest $500, how long until you have $5,000? If you deposit $25,000 in a savings account that pays 12% interest compounded quarterly, for 8 years. Find the future value at the end of eight years. You need $1,500,000 when you turn 67. Suppose you just turned to 22 today. If the discount rate is 8 percent, how much you need to deposit today. You have been offered an investment that will double your money in 15 years. What rate of return are you being offered? Given 12 percent interest rate, if you invest $500, how long until you have $5,000?

Answer rating: 100% (QA)

1 Future Value with Compound Interest Future Value Principal Amount 1 Interest RateNumber of Compoun... View the full answer