Assume the real rate of interest is 2.00% and the inflation rate is 4.00%. What is the
Question:
Assume the real rate of interest is 2.00% and the inflation rate is 4.00%. What is the value today of receiving 10,637.00 in 8.00 years? 2 decimal places
Derek can deposit $237.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 14.00% and compounds interest monthly. Derek can deposit $2,560.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years? 4 decimal places
Derek currently has $11,377.00 in an account that pays 6.00%. He will withdraw $5,293.00 every other year beginning next year until he has taken 5.00 withdrawals. He will deposit $11377.0 every other year beginning two years from today until he has made 5.0 deposits. How much will be in the account 29.00 years from today? 2 decimal places