Question: I need help sloving this problem 1. If you deposited $2,000 today in an account that gave you 5% APR compounded interest, how much would

I need help sloving this problem

1. If you deposited $2,000 today in an account that gave you 5\% APR compounded interest, how much would you have in 10 years? (show work) 2. Suppose you want $5,000 in your bank account when you graduate in four years, how much would you have to invest today at 7% APR to get it? (show work) 3. If you have a bank account with a balance of $200 how long would it take you to have a balance of $400 if the bank gave you 8\% APR? (show work)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Please resolve Problem 7 Use Excel Spreadsheet. Problem 1 . Invest $ 1 5 0 0 into an account earning 4 % simple interest. What amount is in the account after 5 years? Make a separate column showing...

i am taking Cooperate finance which is FIN222 can help me to answer.. ? Tutorial 1 Topic 1 Chapter 1 4. What are the main advantages and disadvantages of organising a firm as a corporation? 6. You...

Question 1- Basic Savings Plan - Suppose you save $300 a month, putting the cash into a nice secure piggy-bank (with no interest). How much will you have in 11 months? b. Instead of a piggy bank,...

1. You deposited $200 in Bank of America back in year 2007, and the account balance became $250 in 2018 when you withdrew it. Which one is present value? Which one is future value? 2. What is the...

i need help on all of these, please can anyone help? 1. If you deposited $2,000 today in an account that gave you 5% APR compounded interest, how much would you have in 10 years? (show work) 2....

you Question 1 - Basic Savings Plan 4. Suppose you save $300 a month, putting the cash into a nice secure piggy bank (with no interest). How much will you have in 11 months? b. Instead of a piggy...

TASK 1 a) If you deposit $10 000 today in a bank statement paying 10.38%, how much will you have in one (1) year. b) If you need 12 000 in one (1) year, how much do you need to deposit today (6...

29. The Village of West Rochester made a short-term deposit of $476,903 in a local bank. When the village withdrew its funds, the account had grown to $479,147. How much interest did it earn on the...

1. If you deposited $2,000 today in an account that gave you 5% APR compounded interest, how much would you have in 10 years? (show work) 2. Suppose you want $5,000 in your bank account when you...

a. Tom deposited $5,000 in a 2-year certificate of deposit paying 8% simple interest. What was the value of his account at the end of the 2 years? b. Jerry deposited $5,000 in a 1-year certificate...

When might a firms human resources be seen as an organizational strength? When might a firms human resources be seen as a weakness? Distinguish between corporate, business, and functional strategies....

A relatively small company that sells eye- glasses to the public wants to incentivize its sales staff to sell customers higher-quality frames, lenses, and options. To do this, the company has decided...

The Safe Streets Act, introduced in Lu in 2 0 0 4 and modelled onlegislation, makes it illegal to solicit money in a threatening manner, to panhandle within 5 metres of a bank machine or to solicit...

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

2. Define identity.

1. Identify three communication approaches to identity.

4. Describe phases of majority identity development.