How much will you have in your account after 19 years

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Reference no: EM132234734

1) i: You are offered an investment that will pay you $5837 every year for 29 years. If you require a 8.6% return on investments with the same levels of risk, how much are you willing to invest today? Answer and round to the nearest cent.

ii) You save $164 every month in an account that earns 5.3% annually and compounds monthly. How much will you have in your account after 19 years? Answer and round to the nearest cent.

iii) A loan's quirky terms require the first payment to be made at the moment the money is lent. Payments are $79 every month, the monthly interest rate is 0.75%, and the loan is paid off in equal payments over 9 years. How much money was borrowed? Answer and round to the nearest cent.

Reference no: EM132234734

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