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What is the value of this account in exactly one year

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Reference no: EM131830210

1. A couple invests $10,720.00 today in a money market fund that pays 7.00% per year. What is the value of this account in exactly one year?

Answer Format: Currency: Round to 0 decimal places. Only have 1 chance to answer correctly.

2. A couple needs $11,349.00 in one year. They only have $7,652.00 today to invest in a mutual fund. What return must the fund generate this year in order to reach their goal?

Answer Format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places.

3. A devoted Indiana basketball fan needs $11,700.00 to attend the Final Four exactly one year from today. If the fan can earn 6.00% annually on his investments, how much should he set aside today? Answer Format: Currency: Round to: 2 decimal places.

4. An engaged couple agrees to get married once their savings equal $58,800.00. They have $21,800.00 at the moment and will invest the money in an account that earns 10.00% per year. How many years will the engagement last? Answer Format: Number: Round to 2 decimal places.

Reference no: EM131830210

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