Calculate the account balance

Assignment Help Financial Management

Reference no: EM131967946

1. Sage Monet is going to deposit $625 into a savings plan. She will then deposit an additional $475 each quarter (starting in 3 months) for 30 years. If Sage can earn 4.685% compounded quarterly, what will her balance be in 30 years?

a. $19,335.90

b. $2,608,635.81

c. $127,439.29

d. $125,993.20

3. 135 years ago, your great-great grandmother lost $75 playing bingo in Oley, Pennsylvania. If she had not been tempted to gamble on bingo, but instead had deposited the $75 in a savings account earning 2.45% compounded annually, how much would be in the account now?

a. $1,645.66

b. $77,293.27

c. $1,968.69

d. $77.52

4. Calculate the account balance for $1,000 left on deposit for 210 days earning 4.9% compounded daily. Assume there are 365 days per year.

a. $1,026.95

b. $1,083.59

c. $1,028.59

d. $23,059.63

5. Fred Gridlock just turned 30 and can set aside $750 in a savings plan at the end of each 6 months. If Fred can earn 8.5% compounded semiannually, how much will he have when he turns 66?

A. $335,657.24

B. $349,922.67

C. $3,128,674.68

D. $61,313.57

6. The average growth rate for a certain stock over the last 70 years is reported to be 10% compounded annually. If your grandfather had invested $800 in the stock 70 years ago and received the 10% return, what would his investment be worth today?

A. $611,727.57

B. $56,000

C. $6,309,975.65

D. $631,797.57

7. Suppose your monthly electricity bill is $192.55. If rates are expected to increase at an annual rate of 8.75%, what will your bill be in 3 years?

A. $247.65

B. $250.11

C. $50.54

D. $243.09

8. Suppose there are an estimated 5,400 wild boar in a certain area. If the wild boar population is decreasing 2.45% per year, what will the wild boar population be in 15 years?

A. 4,770

B. 3,722

C. 7,763

D. 327

Reference no: EM131967946

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