Credit union continues to pay the same interest rate

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Reference no: EM132046420

1. John decides to have $100 of his monthly paycheck directly deposited into his local credit union account on payday, the last day of the month. The account earns 1.75% per year, compounded monthly. How much will John have at the end of five years, assuming that the credit union continues to pay the same interest rate?

2. Phillips Co. is growing quickly. Dividends are expected to grow at a rate of 24 percent for the next three years, with the growth rate falling off to a constant 7 percent thereafter. If the required return is 11 percent and the company just paid a dividend of $2.05, what is the current share price?

Reference no: EM132046420

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