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What will the dollar amount be in four years

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Reference no: EM133017849

Question -

-You are planning a large wedding 4 yrs from today when your finance finishes medical school. You have estimated that you will need $45,000 for this affair. You can earn 3.5% compounded annually on your savings. How much would you have to deposit today in one lump sum to pay for the entire wedding?

-A Max, Inc deposited $2,000 in a bank account that pays 12% interest annually. How many periods would it take for the deposit to grow to $6,798 of the interest is compounded semiannually?

-You have $1,000 today and want to double your money in 8 yrs. What interest rate must you earn?

-You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?

-Shorty Jones wants to buy a one-way ticket to mule-snort, Pennsylvania. The ticket costs $142, but Mr. Jones has only $80. If Shorty puts the money in an account that pays 9% interest compounded monthly, how many months must Shorty wait until he has $142 (round to nearest month)

-If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth in 21 months (round to the nearest dollar)?

-Today, you are investing $25,000 at 6%, compounded monthly, for 10 years. How much additional income could you earn if you could have invested this amount at 7%, compounded monthly?

-A Max, Inc. deposited $2,000 in a bank account that pays 12% interest annually. What will the dollar amount be in four years?

Reference no: EM133017849

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