What is the present value of security

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Reference no: EM131847807

1. Your parents will retire in 20 years. They currently have $360,000 saved, and they think they will need $2,050,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

2. If you deposit $11,000 in a bank account that pays 12% interest annually, how much will be in your account after 5 years? Round your answer to the nearest cent. $

3. What is the present value of a security that will pay $33,000 in 20 years if securities of equal risk pay 4% annually? Round your answer to the nearest cent.

Reference no: EM131847807

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