Reference no: EM132190809
Questions -
1) If I deposit $11,000 in a bank account that pays interest of 2%, compounded annually, how much will I have in the account after 10 years?
2) If I deposit $11,000 in a bank account that pays simple interest of 2%, how much will I have in the account after 10 years?
3) How would you explain the difference in the answers to the previous two problems, given that both banks pay interest at the same rate?
4) If you deposited $775 at 12% interest, what would you end up with at the end of 12 years if it was compounded annually?
5) What would the present value be of $1,000 to be received 8 years from now discounted back at 3%?
6) Craig, who recently sold his Porsche, placed $10,000 in a savings account paying annual compound interest of 6%.
a) Calculate the amount of money that will have accrued if he leaves the money in the bank for 1, 5 and 15 years.
b) Calculate the amount of money that will have accrued if the interest rate changed to 7.5% and paid only simple interest for 1, 5 and 15 years.
c) Did compound or simple interest gain more money in years 1, 5, 15?
7) Nolan Arenado hit 37 homeruns for the Colorado Rockies in 2017. If his homerun output grew at a rate of 12% per year, what would it be over each of the following 5 years?
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What amount of income tax and penalty must tyson pay
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What is the maximum amount she can contribute
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How do you see each of the laws in action in your daily life
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What is the maximum saver credit
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Calculate the amount of money that will have accrued
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By what percentage must you increase the radius
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What kinds of species were protected and why
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What is the amount of tom income or loss on the sale
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