Question: please help on question 8 and 9 David has a savings account with a 1,000 balance today. The account earns an annual percentage rate of

please help on question 8 and 9

David has a savings account with a 1,000 balance today. The account earns an annual percentage rate of interest of 2.50%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer: Answer Question 9 (1 point) How much (in \$) would \$4million due in 100 years be worth today if the discount rate were 12% ? Your

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!

Question 8 (1 point) David has a savings account with a 6,000 balance today. The account earns an annual percentage rate of interest of 2.25%, compounded monthly. David plans to make no other...

Question 8 (1 point) David has a savings account with a 4,000 balance today. The account earns an annual percentage rate of interest of 3.25%, compounded monthly. David plans to make no other...

Q 11 and Q 12 please Question 11 (0.2 points) David has a savings account with a 2,000 balance today. The account earns an annual percentage rate of interest of 1.75%, compounded monthly. David plans...

Question 11 (0.2 points) David has a savings account with a 5,000 balance today. The account earns an annual percentage rate of interest of 3.50%, compounded monthly. David plans to make no other...

Question 5 (0.8 points) David has a savings account with a 3,000 balance today. The account earns an annual percentage rate of interest of 1.25%, compounded monthly, David plans to make no other...

Question 12 (0.2 points) David has a savings account with a 9,000 balance today. The account earns an annual percentage rate of interest of 2.00%, compounded monthly. David plans to make no other...

Question 13 pts You will put $50 per month into a savings account for one of your children. The account earns an annual rate of 3% (with monthly compounding). After 18 years, what is the balance in...

Financial planning questions 1. Betty earns $100,000 working as a part-time lawyer in New Orleans. The company provides a matching contribution in the 401(k) plan of 50% up to a maximum contribution...

Question 1 (0.2 points) David has a savings account with a 6,000 balance today. The account earns an annual percentage rate of interest of 2.50%, compounded monthly. David plans to make no other...

Question 16 (1 point) David has a savings account with a 9,000 balance today. The account earns an annual percentage rate of interest of 3.75%, compounded monthly. David plans to make no other...

If X is the number of 7s obtained when rolling a pair of dice three times, find the probability that Y = X2 will exceed 2.

Can you use foreign language wordlists?

ASSETS Cash and cash equivalents $ 7 , 3 2 4 $ 7 , 4 5 8 Marketable securities 1 , 1 5 4 9 4 6 Trade accounts and notes receivable net 5 , 3 2 6 7 , 7 3 9 Financing receivables net 4 4 , 3 0 9 4 3 ,...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...