8. lan has drawn the below timeline for all the deposits and withdrawals he made to his savings account. The interest rate is 4% p.a. compounded quarterly. The bank balance is zero before and after all the transactions on the timeline. Which of the following equations can be used to find X?/*- " Deposits Half-years Withdrawals $ 2,200 0 2 $3,200 3 A. 2200(1.01) +3200(1.01)³= 3500(1.01)² + X B. 2200+3200(1.01)³= 3500(1.01)* + X C. 2200(1.01)¹2 +3200(1.01)63500(1.01)* + X D. 2200+3200(1.04)³ = 3500(1.04) + X(1.04)-6 $3,500 5 6 X

8. lan has drawn the below timeline for all the deposits and withdrawals he made to his savings account. The interest rate is 4% p.a. compounded quarterly. The bank balance is zero before and after all the transactions on the timeline. Which of the following equations can be used to find X?/- " Deposits Half-years Withdrawals $ 2,200 0 2 $3,200 3 A. 2200(1.01) +3200(1.01)³= 3500(1.01)² + X B. 2200+3200(1.01)³= 3500(1.01) + X C. 2200(1.01)¹2 +3200(1.01)63500(1.01)* + X D. 2200+3200(1.04)³ = 3500(1.04) + X(1.04)-6 $3,500 5 6 X

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You have just deposited X dollars in your bank account that pays interest of 6 percent p.a. You discover that at the end of one year you have $ 10,044 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
Suppose that on the statement for a money market account, the initial balance was $7744.70, the statement was for 34 days, the final balance was $7770.84, and there were no deposits or withdrawals. Calculate the APY. Give your answer in percent to 2 decimal places.
A bank features a savings account that has an annual percentage rate of r=3.1r=3.1% with interest compounded quarterly. Breanna deposits $6,500 into the account. The account balance can be modeled by the exponential formula S(t)=P(1+rn)ntS(t)=P(1+rn)nt, where SS is the future value, PP is the present value, rr is the annual percentage rate written as a decimal, nn is the number of times each year that the interest is compounded, and tt is the time in years. (A) What values should be used for PP, r, and nn? P=P= , r=r= , n=n= (B) How much money will Breanna have in the account in 88 years? Answer = $ . Round answer to the nearest penny.
With an initial deposit of 200 dollars, the balance in a bank account after t years is f(t) = 200(1.05)t dollars. What are the units of the rate of change of f(t)? Find the average rate of change over [0,1]
Your bank account pays an 8% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT? a. The periodic rate of interest is 4% and the effective rate of interest is less than 8%. b. The periodic rate of interest is 8% and the effective rate of interest is also 8%. c. The periodic rate of interest is 8% and the effective rate of interest is greater than 8%. d. The periodic rate of interest is 2% and the effective rate of interest is greater than 8%. e. The periodic rate of interest is 2% and the effective rate of interest is 4%.
Find the equivalent present worth of the cash receipts in the accompanyingdiagram, where i = 8% compounded annually. In other words, how much doyou have to deposit now (with the second deposit in the amount of $600 at the end of the first year) so that you will be able to withdraw $300 at the end of the second year through the fourth year, and $800 at the end of the fifth year, where the bank pays you 8% annual interest on your balance?
If the interest that 6000 TL will bring in 3 months over 21% interest rate is brought by the same amount of money deposited in another bank for 7 months, what is the interest rate applied by the second bank?A) 5B) 8C) 10D) 3E) 9
t is now January 1, 2x16, and you will need P100,000 on January 1, 2x20. Your bank compounds interest at an 8% annual rate. How much must you deposit today to have a balance of P100,000 on January 1, 2x20?
You deposit $100, $150, & $200 in a bank account at the end of years 1,2,& 3 and earn 7%interest. If (P/G, 7%, 3)=2.506 and (A/P, 7%, 3)=.3811 what is the present value (now) ofthese deposits.
If you deposited P1,000 a couple of years ago in a bank that pays the interest bimonthly. After that, the money in the account had grown to P1,800. Determine the nominal interest rate and the effective interest rate.
Suppose you deposited $41,000 in a bank account that pays 5.75% with daily compounding based on a 360-day year. How much would be in the account after 8 months, assuming each month has 30 days? a. $42,598.28 b. $42,571.67 c. $43,426.30 d. $42,793.66 e. $42,602.05
Five years ago, you deposited $1,000 in a bank account. One year ago, you deposited $2,000 in the same bank account. Assuming no other deposits and no withdrawals, what will be in the account 7 years from now? Assume an interest rate of 4%. Use the $ symbol and round to the nearest dollar...no decimal places...use a comma.

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