Reference no: EM133144373
Questions -
Q1. What initial investment is required so that you accumulate $1,210 after two years if you expect to earn an interest rate of 10% per year?
Q2. If you were to deposit $399.27 into an account today that pays 8% interest annually, with a payment of $100 at the end of each year, what would you be left with at the end of 5 years?
Q3. Assume you are planning on retiring in 30 years. If you deposit $5,000 each year into an IRA account that will earn an average of 7.5% per year, how much will you have after 30 years?
Q4. Assume that you are planning to purchase a house five years from now and you will need $10,000 for the down payment. How much will you need to save each year if your savings will earn a rate of 4% per year?
Q5. Assume that you are planning to purchase a house five years from now and you will need $10,000 for the down payment. How much will you need to save each year if your savings will earn a rate of 4% per year?
Q6. Using the same information from question 5, assume you would like to have a $20,000 down payment. How much will you need to save each year now?
Q7. Joe Haskel will receive $1,500 per year for 10 years from an ordinary annuity. What is the future value of the payments at 8%?
Q8. Mrs. Crawford will receive $7,600 a year for the next 19 years from her trust. If a 14 percent interest rate is applied, what is the current value of the future payments?
Q9. Al Rosen invests $25,000 in a mint condition 1952 Mickey Mantle Topps baseball card. He expects the card to increase in value by 12 percent per year for the next 10 years. How much will his card be worth after 10 years?
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