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How much will you have in your account at the end of years

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Question 1 - You deposit $620 in an account one time that compounds monthly at 5.7 percent. How much will you have in your account at the end of 8 years?

Question 2 - A balloon payment of $37,000 on your house is due in 10 years. If you can earn an average of 9 percent per year for all the years, how much will you have to place into an account today to have the total amount when due?

Question 3 - A financial institution quotes a rate of 6.4 percent compounded daily. What is the effective rate for the year using a 365 day year?

Question 4 - Felice Navidad purchases 2,000 shares of NOW Technology stock at $7 in Christmas 4 years ago. In Christmas of 2019 she sells the stock at $31 per share. What is Felice's internal rate of return?

Question 5 - Mr. Bates is creating a college fund for his daughter. He will put in $1760 at the end of each year for the next 10 years. He expects to earn 7.26% annually. How much money will his daughter have in her college fund?

Question 6 - Calculate the monthly mortgage payment made at the beginning of each month on a $136,000 mortgage. The mortgage is for fifteen years and the interest rate is 5.5 percent.

Reference no: EM133029521

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