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10 Nov 2019
Please try to number the solutions the way it is in the question paper to avoid being confused. I appreciate the help I get from this site.
2. Find the effective rate for an investment for 4.5% compounded quarterly. a. % (round to 3 decimal places) b. 4.48% compounded continuously. % (round to 3 decimal places) 3. Investments: Ginny is considering an investment for her retirement. If she invests $220 per month for 25 years and the interest is 32% compounded monthly, then what is the future value of her annuity? (round to the nearest penny) a. Formula needed for this situation: Future value of her annuity $ fround to the nearest penny) single investment of $14,000 in a different account that pays the same interest (3.2% If she also makes a compounded monthly), then what is her account value in 25 years? b. Formula needed for this situation: Account Balance in 25 years $ (round to the nearest penny) c. What is her total amount available for retirement? (add the two answers above) fround to the nearest dollar)
Please try to number the solutions the way it is in the question paper to avoid being confused. I appreciate the help I get from this site.
2. Find the effective rate for an investment for 4.5% compounded quarterly. a. % (round to 3 decimal places) b. 4.48% compounded continuously. % (round to 3 decimal places) 3. Investments: Ginny is considering an investment for her retirement. If she invests $220 per month for 25 years and the interest is 32% compounded monthly, then what is the future value of her annuity? (round to the nearest penny) a. Formula needed for this situation: Future value of her annuity $ fround to the nearest penny) single investment of $14,000 in a different account that pays the same interest (3.2% If she also makes a compounded monthly), then what is her account value in 25 years? b. Formula needed for this situation: Account Balance in 25 years $ (round to the nearest penny) c. What is her total amount available for retirement? (add the two answers above) fround to the nearest dollar)
Deanna HettingerLv2
8 Jul 2019