What amount will the investments accumulate

Reference no: EM132645503

Question 1: To what amount will the following investments accumulate?

a. 4,500 SAR invested for 8 years at 10% compounded annually
b. 10,000 SAR invested for 10 years at 10% compounded annually
c. 8,000 SAR invested for 7 years at 12% compounded annually
d. 20,000 SAR invested for 6 years at 5% compounded annually

Future value calculations

Question 2: You are hoping to purchase a house in the future and recently received an inheritance of 100,000 SAR. You like to use your inheritance for a down payment for the house.

a. If you use your inheritance in an account that generates 6% returns compounded annually, how many years will it take before your money grows to 750,000SAR?

b. If you let your money grow for 15 years at 8%, how much will you have in your account?

Reference no: EM132645503

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