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Janet Boyle intends to deposit $300 per year in a credit union for the next 10 years, and the credit union pays an annual interest rate of 8%.
a. Determine the future value that Janet will have at the end of 10 years, given that end-of- period deposits are made and no interest is withdrawn, if
(1) $300 is deposited annually and the credit union pays interest annually.
(2) $150 is deposited semi annually and the credit union pays interest semi annually.
(3) $75 is deposited quarterly and the credit union pays interest quarterly.
b. Use your findings in part a to discuss the effect of more frequent deposits and compounding of interest on the future value of an annuity.
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You have decided to invest 30 percent in X; 30 percent in Y; and 40 percent in Z. The probability of the state of the economy is Boom 25%; Normal 60%; and, Bust 15%. The rate of return for stock X is Boom .20; Normal .15; and, Bust .00. What is the p..
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