Reference no: EM132839606
Questions -
Q1. Michael puts $200 in a money market account today which returns 3% with monthly compounding. Michael plans to keep his money in the account for two years. How much is the future value of his investment when he closes the account 2 years from today?
Q2. If Josie invests $8,000 with a 6.6% interest, compounding monthly, what amount will she have after 3½ years?
Q3. Bailey deposited a total of $1,000 in a savings account that pays an interest of 8%, compounded quarterly, which he plans to use in finishing his last year in college. After 18 months, Bailey decided to go to Los Angeles to become a teacher rather than continue in school, so he closed out his account. What amount of money will Bailey receive?
Q4. Iris expects to receive $1,000 at the end of each of the next three years. She will deposit these payments into an account that pays 10%, compounded semi-annually. What will be the future value of these payments, that is, the value at the end of the third year?
Q5. Ansel Accounting Firm rents an office space for $250,000 per year which is due at the beginning of each year. If the hurdle rate of Ansel Accounting Firm is 10%, how much is the present value of five years' worth of rent?
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