Q 1.To what amount will the following investment accumulate? $9,800, invested today for 2 years at 5 percent, compounded annually. Round the answer to two decimal places. 2.You placed $9,982 in a savings account today that earns an annual interest rate of 3 percent compounded annually. How much you will have in this account at the end of 26 years? Assume that all interest received at the end of the year is reinvested the next year. Round the answer to two decimal places. 3.What is the present value of the following future amount? $431,870 to be received 6 years from now, discounted back to the present at 8 percent, compounded annually. Round the answer to two decimal places. 4.If you want to have $480,934 in 11 years, how much money should you put in a savings account today? Assume that the savings account pays you 6.4 percent and it is compounded annually. Round the answer to two decimal places 5.The local home improvement store has a washing machine on sale for $1,858, with the payment due in 1 year(s) from today. The store is willing to discount the price at an annual rate of 10 percent (compounded annually) if you pay today. What is the amount if you pay for the washing machine today? Round the answer to two decimal places

View Related Questions