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- Let's say that you invest $8000 at 3.1 percent annual interest for 6 years. What will its value be? Carefully follow all numeric directions. Round intermediate steps to four decimal places and final answers to two.Bobby has heard the importance of saving early for retirement. He wants to retire in 35 years. But he really likes traveling. Right now, he spends, on average, about $600 a month traveling. He is trying to decide if he should start saving his travel money for retirement now, or if he can continue traveling a few more years before beginning to save. Assume that he can find an annuity that pays 4.75% compounded quarterly. What is his future value if: a) He starts saving now? N: P/Y: I%: C/Y: PMT: End or Begin $54,911.29 $658,935.54 $823,669.42 1,000,000.003. If you deposit $1000 in an account that pays 5% interest, compounded annually, how much will you have at the end of 10 years? 50 years? 100 years? What if this is compounded Semi annually in 10 years? 50 years? 100 years?
- Determine the present value of an increasing perpetuity-due with annual payments starting at 100 and increasing by 50 each year until the payment reaches 500 and remain at 500 thereafter. The annual effective interest rate in 5%. Please use annuity formulas! Only typed answer give fast and don't use chat gpt6. Alex invested a certain amount to a business and promised to pay him back with 1.8 times his original investment. They agreed to have it compounded monthly within 9 years. What is the nominal rate of interest r in percent?How long will it take money to double if it earns 4 percent per annum compounded annually?
- Suppose that $12,000 is placed in a bankaccount at the end of each quarter over the next 15years. What is the future worth at the end of 15 yearswhen the interest rate is 8.5% compounded at thegiven intervals?(a) Quarterly(b) Monthly(c) ContinuouslySUBJECT: ENGINEERING ECONOMICS By condition of a will, the sum of P 2,000 is left to a girl to be held in trust fund by her guardian until it amounts to P 50,000. When will the girl received the money if the fund is invested at 8% compounded quarterly? When will the amount be tripled with an interest of 11.56%? A man borrowed P 1,000,000 at interest rate of 12% per annum compounded quarterly. What is the effective rate?