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How much will be in your account after six years

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Reference no: EM132904883

Question - Solve the following questions by using Excel formula. Show your data and interpret your answer

1. If you deposit $20,000 in a bank account that pays 15% interest annually, how much will be in your account after 6 years?

2. If you are planning to invest your money today in a security that pay you $5,000,000 in 15 years with rate of return on your investment of 10% annually. How much you should invest?

3. Rudy will retire in 20 years. This year he wants to fund an amount of €15,000 to become available in 20 years. How much does he have to deposit into a pension plan earning 7% compounding quarterly?

4. You borrow $85,000 from a bank, the annual loan payments are $8,273.59 for 15 years. What interest are you being charged?

5. Find the present value of the following cash flow streams at 8% compounded annually.

6. The National Savings Fund promises a monthly interest rate equal to 0.75% return if you deposit €100 per month for 15 consecutive years. What amount will be accumulated after those 15 years?

7. You have a chance to invest $3,615.14 in a fund that pays fixed payment at the beginning of each period for 4 years. You could earn 6% on your money compounded semiannually. How much you expect to receive at the beginning of each period for the annuity?

8. Harry has just bought a lucky ticket and won $10,000. He wants to finance the future study of his newly born daughter and invests this money in a fund with a maturity of 18 years offering a promising yearly return of 6%. What is the amount available on the 18th birthday of his daughter?

9. What's the future value of 7%, 7-year ordinary annuity that pays $500 each year? If this was annuity due, what would its future value be?

Reference no: EM132904883

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