Question: Note: you never need to put a negative (-) sign in front of any answer! When we ask for a dollar ($) amount, we just


Note: you never need to put a negative (-) sign in front of any answer! When we ask for a dollar ($) amount, we just want the amount, we don't need to know it's inflow or outflow (+/-), as we'll assume this was apparent from the question. How much do you need to put in the bank today, earning 5.000% (SA), if you also plan to deposit $2,500 every six months, in order to have $500,000 in the account at the end of 10 years? You deposit $50,000 into a saving account. What nominal rate of interest do you need to earn for that money to grow to $100,000 over 10 years, if that interest rate is compounded annually? You deposit $50,000 into a saving account. What nominal rate of interest do you need to earn for that money to grow to $100,000 over 10 years, if that interest rate is compounded semi-annually? You deposit $50,000 into a saving account. What nominal rate of interest do you need to earn for that money to grow to $100,000 over 10 years, if that interest rate is compounded monthly
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