You have $15,000 that you would like to invest for the next 24 years. Your other...
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You have $15,000 that you would like to invest for the next 24 years. Your other option is to invest the money at 5.00% interest, compounded annually. How much money will you have at the end of the 24 years? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Answer 6 years from now, you plan to buy a house for $300,000. The down payment is 10% of the house value ($30,000). If you can earn 4.50% interest, compounded annually, on your savings, how much do you need to deposit today to have $30,000 in 6 years? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Anowar Currently, you have $20,500 that you would like to grow to $82,000 within the next 10 years. Assuming interest rate compounds annually, what annual rate of return do you have to earn? A (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Answer You have $15,000 that you would like to invest for the next 24 years. Your other option is to invest the money at 5.00% interest, compounded annually. How much money will you have at the end of the 24 years? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Answer 6 years from now, you plan to buy a house for $300,000. The down payment is 10% of the house value ($30,000). If you can earn 4.50% interest, compounded annually, on your savings, how much do you need to deposit today to have $30,000 in 6 years? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Anowar Currently, you have $20,500 that you would like to grow to $82,000 within the next 10 years. Assuming interest rate compounds annually, what annual rate of return do you have to earn? A (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00) Your Answer: Answer
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Part 1 To find out how much money you will have at the end of the 24 years you can use the formula f... View the full answer
Related Book For
Financial Analysis with Microsoft Excel
ISBN: 978-1285432274
7th edition
Authors: Timothy R. Mayes, Todd M. Shank
Posted Date:
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