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How much would you have accumulated

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Q1. Suppose you deposit $3,000 into your bank account at the end of each of the next 9 years. If the interest rate is 11%, how much would you have accumulated at the end of 9 years?

Q2. An investment promises to pay you $6,000 per year forever with the first payment today. If alternative investments of similar risk earn 3.64% per year, determine the maximum you would be willing to pay for this investment.

Q3. If the nominal interest rate is 6.1% and the inflation rate is 2%, what is the real interest rate? Enter your answer as a percentage.

Q4. You are planning to buy a house in 14 years. You would like to be able to make a down payment of $75,000. The stated interest rate is 6% (APR). If interest is compounded monthly, how much will you need to invest today to be able to make your down payment?

Q5. If the annual percentage rate (APR) is 12% and the compounding period is daily, what is the effective annual rate (EAR)? Enter your answer as a percentage. Do not include the percentage sign in your answer. Do not round the decimal number after you have performed the division of the interest rate.

Reference no: EM132982229

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