Please answer the following! Thank you!
1.)Jennifer Davis wants to accumulate $16,000 by the end of 12years. If the annual interest rate is 6.40 percent and interestcompounds semiannually, how much will she have to invest today toachieve her goal? (If you solve this problem withalgebra round intermediate calculations to 6 decimal places, in allcases round your final answer to the nearestpenny.)
Present value of investment= ?
2)Your brother has asked you for a loan and has promised to payyou $9,100 at the end of three years. If you normally invest toearn 6.90 percent per year, how much will you be willing to lend toyour brother if you view this purely as a financial transaction(i.e., you donât give your brother a special deal)? (Ifyou solve this problem with algebra round intermediate calculationsto 6 decimal places, in all cases round your final answer to thenearest penny.)
Amount To be invested today?
3)Matthew Young is considering aninvestment that pays 5.40 percent, compounded annually. How muchwill he have to invest today so that the investment will be worth$27,000 in six years? (Do not round intermediatecalculations and round your final answer to the nearestpenny.)
Amount to be invested today?
Please answer the following! Thank you!
1.)Jennifer Davis wants to accumulate $16,000 by the end of 12years. If the annual interest rate is 6.40 percent and interestcompounds semiannually, how much will she have to invest today toachieve her goal? (If you solve this problem withalgebra round intermediate calculations to 6 decimal places, in allcases round your final answer to the nearestpenny.)
Present value of investment= ?
2)Your brother has asked you for a loan and has promised to payyou $9,100 at the end of three years. If you normally invest toearn 6.90 percent per year, how much will you be willing to lend toyour brother if you view this purely as a financial transaction(i.e., you donât give your brother a special deal)? (Ifyou solve this problem with algebra round intermediate calculationsto 6 decimal places, in all cases round your final answer to thenearest penny.)
Amount To be invested today?
3)Matthew Young is considering aninvestment that pays 5.40 percent, compounded annually. How muchwill he have to invest today so that the investment will be worth$27,000 in six years? (Do not round intermediatecalculations and round your final answer to the nearestpenny.)
Amount to be invested today?
