Question: The TVM Solver entry headings have been provided below for some of the problems. If not required by the problem, cross it out and write
The TVM Solver entry headings have been provided below for some of the problems. If not required by the problem, cross it out and write your work in the empty space. Please box your final answer. (2 points) 1. You deposit some money into an account that earns simple interest at a rate of 5% per year. After 584 days, there is $10287 in the account. How much money was initially invested to the nearest cent)? N PMT= 1% PV- P/Y=C/Y- FV= (4 points) 2. You deposit $6,000 into an account that earns an annual interest rate of 3.25% per yr, compounded weekly (a) How much will be in the account (to the nearest cent) 7 years after your initial deposit? PMT FV- PV- P/Y=C/Y= (1) What is the effective interest rate for this account, rounded to 4 decimal places
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
