If your account compounds quarterly how many times does it compound a year? 0 2 6 4
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Question:
- If your account compounds quarterly how many times does it compound a year?
- 0
- 2
- 6
- 4
- 8
- If your account compounds semi-annually how many times does it compound a year?
- 0
- 2
- 6
- 4
- 8
- If your account compounds bi-weekly, how many times does it compound in 4 months?
- 2
- 4
- 8
- 12
- 16
- Suppose when you were born your grandma deposited money in an account for you growing at 12% for 20 years. If there is $96,462.93 in the account after the 20 years, how much did your grandma put in the account when you were born?
- $5,000
- $1,000
- $10,000
- $8,000
- $12,000
- Suppose you had $9,321.91 in investments after 20 years just from starting with only $2,000. At what rate did the account grow?
- 10%
- 8%
- 12%
- 15%
- 6%
- On your 10thbirthday you decide you want to be rich when you’re older, so you take your $267.33 you got from gifts and deposit it into an account that will grow at 10% for the next 40 years. How much money will be in the account after 40 years?
- $12,099.16
- $10,674.53
- $13,322.87
- $9,876.49
- $11,698.74
- Let’s say you put $5,000 in an account that grew at a 15% rate which has now turned into $81,832.69 How long was the money in the account for?
- 10 Years
- 20 Years
- 15 Years
- 25 Years
- 30 Years
- You walk into a bank and the teller says you have $42,853.76 in an account you haven’t touched in 27 years that grew at a 10% rate. How much money did you initially put into this account 27 years ago?
- $5,238.53
- $4,833.90
- $2,998.47
- $3,268.79
- $3,449.21
- You just turned 16 and get your first job. You decide you want a car when you graduate college in 7 years. To reach that goal you will put $5,000 in an account annually that grows at 10% until you’re 23. How much will you have saved for a car upon graduation?
- $47,435.86
- $54,663.78
- $42,874.45
- $36,532.83
- $45,132.12
- When you turn 20 you decide you want to start a retirement account which you will add $1,000 annually to. If the account grows at an 12% rate for the next 40 years, how much will be in the account when you retire at 60?
- $702,990.30
- $675,437.87
- $802,654.66
- $577,864.93
- $767,091.42
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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