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How much would the investment be worth today

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1. Suppose you had a relative deposit $10.07 at 5.5% interest 200 years ago. How much would the investment be worth today?

2. You want to purchase a new car, and you are willing to pay $19,970. If you can invest at 10% per year and you currently have $15,000, how long will it be before you have enough money to pay cash for the car?

3. You are saving for a new house, and you put $10,000 per year in an account paying 8%. The first payment is made today. How much will you have at the end of 3 years? (in dollars)

Reference no: EM131595085

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