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What is the future value-retirement goal is to accumulate
Course:- Financial Management
Reference No.:- EM131010287

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Assignment Help >> Financial Management

1. What is the future value of \$4000 in 5 years if it is invested at an interest rate of 6.00%?

a. \$5,300

b. \$5,563

c. \$5,353

d. \$6,214

e. \$6,431

2. Suppose your retirement goal is to accumulate \$400 in 2.5 years. How much do you need to deposit in the bank today to meet your goal if the bank offers an interest rate 5.65%?

a. \$321

b. \$336

c. \$482

d. \$293

e. \$349

3. What is the present value of 15 annual installments of \$2000 paid at the end of each year and beginning at the end of the first year if the interest rate is 6.35%?

a. \$15,336

b. \$16,456

c. \$17,838

d. \$18,988

e. \$20,765

4. How long does it take for a deposit of \$1656 to triple in value if invested at the interest rate of 5.90%?

a. 19.16years

b. 20.25years

c. 21.26years

d. 22.38years

e. 23.56years

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