Reference no: EM132546042
Suppose that you have deposited SR1500 now into a savings account that has 9% interest compounded annually. You continued to deposit SR1500 for the next 20 years. How much money you will have in your account at the end of year 35?
166006 - 310146 - 426071 - 127595 - 478361
Ahmed started a new job and therefore decided to set aside SR 2,500 annually starting from year 1. Ahmed had a ski-vacation in 2nd year (i.e., 2nd payment) and therefore could not save any money that year, how much net cash will he have at the end of 5 years given that the interest rate is 4%?
16524 10729 - 13547 - 14282 - 21394
(This is bonus question) Which of the following statements is correct?
(GIA, 7.35%, 200)*(FIP, 7.35%1200)*(AlF17.35%1200) = (GIA,7.35
%,200)
(PIA, 7.35%, 200)*(FIP, 7.35%,200)*(1/(GIF,7.35%,200)) = (GIA,7.35%,200)
(PIF, 7.35%,200)* (gIA17.35%1200)* (AIP, 7.35%, 200) = (gIF17.35%1200)
(PIA1,
7.35%, 200)*(FIP, 7.35%1200)*(GIA117.35%,200) = (GIA,7.35
%,200)
(PIA1,
7.35%, 200)*(FIP, 7.35%,200)*(GIA117.35%1200) = (GIA,7.35
%,200)
Suppose that you are going to retire 10 years from now. It is expected that the cost of living will be SR12,000 in the first year of retirement (i.e., year 11) and then it will increase at a rate of 3% per year for the subsequent 14 years (i.e., year 12 to year 25). How much should you deposit now in your savings account with a 9% interest rate compounded annually to cover your expenses during your 15 years of retirement (i.e., years 11 to 25)? (select the closest answer)
SR 28684 SR 25693 SR 48347 SR 23006 SR 44345
You borrowed SR40,000 from a local bank, with the agreement that you will pay back the loan according to a graduated linearly increasing payment plan. If your first payment (at the en( of 1st year) is set at SR1,000, what would the payment at the end of 3rd year look like at borrowing rate of 10% over nine years? (select the closest answer)
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