How much does bill have in his account today

Assignment Help Financial Management

Reference no: EM131883654

1. Assume Bill Jones invested $ 4,604.93 into an account exactly one year ago. The account has an interest rate of 7.4 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)?

2. Assume Sheryl Jenkins wants to accumulate $ 12,241.30 in two years. She currently has $ 10,919.00 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,919.00 today) to have $ 12,241.30 exactly two years from today?

3. Assume Jed Gerbil invested $ 12,744 into an account exactly two years ago. The account has an interest rate of 13.5 % p.a. How much does Jed have in his account today (that is, exactly two years after the initial deposit)?

Reference no: EM131883654

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