Find how much you will have accumulated

Assignment Help Finance Basics

Reference no: EM131111382

You have $1,500 to invest today at 7% interest compounded annually.

a. Find how much you will have accumulated in the account at the end of (1) 3 years, (2) 6 years, and (3) 9 years.

b. Use your findings in part a to calculate the amount of interest earned in (1) the first 3 years (years 1 to 3), (2) the second 3 years (years 4 to 6), and (3) the third 3 years (years 7 to 9).

c. Compare and contrast your findings in part b. Explain why the amount of interest earned increases in each succeeding 3-year period.

Reference no: EM131111382

Questions Cloud

Identify a health care facility : In this assignment, you are required to identify a health care facility where you would consider working in the field of health care informatics.

What about the names of usercreated methods : My first method be renamed so that it is in Camel Case? What about the names of usercreated methods that are supplied with the Penguin class of objects?

Perceptions of accounting professors with respect : The perceptions of accounting professors with respect to the present and desired importance of various factors considered in promotion and tenure decisions at major universities was investigated in the Journal of Accounting Education (Spring 1983)..

New plants or make additions to existing facilities : Firms planning to build new plants or make additions to existing facilities have become very conscious of the energy efficiency of proposed new structures and are interested in the relation between yearly energy consumption and the number of squar..

Find how much you will have accumulated : Find how much you will have accumulated in the account at the end of (1) 3 years, (2) 6 years, and (3) 9 years. Use your findings in part a to calculate the amount of interest earned in (1) the first 3 years (years 1 to 3), (2) the second 3 years (ye..

Create and test a generic hop method : Create and test a generic hop method that has three parameters- who, how high, and how far.

Explain which is more risky bonds or common stocks : Explain the relationship between risk and return. Identify an example of risk and return. Explain which is more risky bonds or common stocks. Explain how understanding risk and return will help you in future business ventures.

What is the fermi energy of a neutron : What IE the approximate value of the electron Fermi energy when p , 100 g em 3/ 19. At the average density of a1.4M6,, it = 10 km neutronstar, what is the Fermi energy of a neutron?

Create an organizational chart showing a top-down : Create an organizational chart showing a top-down,

User Account

All Pages