Unit 3: Homework Assignment If you deposit $2000 in a bank account today that pays 6% annually, how much will be in your account after 5 years?What is the present value of a security that will pay $29

Our papers are 100% unique and written following academic standards and provided requirements. Get perfect grades by consistently using our writing services. Place your order and get a quality paper today. Rely on us and be on schedule! With our help, you'll never have to worry about deadlines again. Take advantage of our current 20% discount by using the coupon code GET20


Order a Similar Paper Order a Different Paper

Unit 3: Homework Assignment

  1. If you deposit $2000 in a bank account today that pays 6% annually, how much will be in your account after 5 years?
  2. What is the present value of a security that will pay $29,000 in 20 years if the interest rate is 5% annually?
  3. Find the following values assuming that compounding/discounting occurs annually and then work them again assuming monthly compounding.
  • $600 compounded for 1 year at 6%
  • $600 compounded for 2 years at 6%
  • The present value of $600 that has been invested for 1 year at 6%
  • The present value of $600 invested for 2 years at a discount rate of 6%
  • $200 compounded for 10 years at 4%
  • $200 compounded for 10 years at 8%
  • The present value of $200 that has been invested for 10 years at 4.                                                                                                                                                                                                                                                                                                                                   4. TB Bank pays 8 percent simple interest on its savings account balances, whereas FB Bank pays 8 percent interest compounded annually. If you made a deposit of $9,000 in each bank how much more money would you earn from FB Bank than TB Bank at the end of 8 years.

5. Suppose the total cost of a college education was $180,000 when your child enters as a freshman in 18 years. At present, you have $52,000 to invest.  What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?

Writerbay.net

We offer the best essay writing services to students who value great quality at a fair price. Let us exceed your expectations if you need help with this or a different assignment. Get your paper completed by a writing expert today. Nice to meet you! Want 15% OFF your first order? Use Promo Code: FIRST15. Place your order in a few easy steps. It will take you less than 5 minutes. Click one of the buttons below.


Order a Similar Paper Order a Different Paper