oday, your investing account has a balance of $3,600. You opened the account with a deposit of $1,200 and made no other contributions. If you have earned a compound annual rate of return of 14.5%, how long ago did you make your initial investment?
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Today, your investing account has a balance of $3,600. You opened the account with a deposit of $1,200 and made no other contributions. If you have earned a compound annual
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- You opened an account with an investment of $1,000 10 years ago. The ending balance in the account is $1,500. Given annual compounding, what interest rate was earned on the account?When you were born, your parents opened an investment account in your name and deposited $500 into the account. The account has earned an average annual rate of return of 4.8 percent. Today, the account is valued at $36,911.22. How old are you?Suppose an individual makes an initial investment of $2,400 in an account that earns 6.6%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (a) How much is in the account after the last deposit is made? (b) How much was deposited? (c) What is the amount of each withdrawal? (d) What is the total amount withdrawn?
- Hassan invested $4000 into an account four years ago. Today his account has grown to have a balance of $4827.50. Given that his account offered monthly compounding of interest, what is the APR on this account? give the answer in %?Suppose an individual makes an initial investment of $2,000 in an account that earns 7.2%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account after the last deposit is made?$ (b) How much was deposited?$ (c) What is the amount of each withdrawal?$ (d) What is the total amount withdrawn?$Justin invested his savings of $1,700 in a savings account that was earning simple interest at 2.24% p.a. He also invested $3,725 in his friend's business at 0.34% p.m. a. What is the interest rate per month that is equivalent to 2.24% p.a.? % Round to two decimal places b. What was the total interest earned from both investments at the end of 16 months? Round to the nearest cent
- Suppose you inherited $100,000 and invested it at 7% per year. What is the most you could withdraw at the end of each of the next 10 years and have a zero balance at Year 10? How would your answer change if you made withdrawals at the beginning of each year? SHOW WORK AND USE FINANCIAL CALCULATORThere is an investor stating they will pay out $84,000 at the end of 4 years. In order to invest into the opportunity, you'll need to make a deposit of $10,000 to thier indicated bank account. What is the average annaul return rateAn investor has accumulated $6,800 and is looking for the best rate of return that can be earned over the next year. A bank savings account will pay 5%. A one-year bank certificate of deposit will pay 7%, but the minimum investment is $9,800. Required: Calculate the amount of return the investor would earn if the $6,800 were invested for one year at 5%. Calculate the net amount of return the investor would earn if $3,000 were borrowed at a cost of 15%, and then $9,800 were invested for one year at 7%. Calculate the net rate of return on the investment of $6,800 if the investor accepts the strategy of part b. Note: Round your answer to 2 decimal places.
- There is an investor stating they will pay out $84,000 at the end of 4 years. In order to invest into the opportunity, you'll need to make a deposit of $10,000 to thier indicated bank account. What is the average annaul return rate. Use excel functions to indicate your steps.If you invested $2500 in an account 12 years ago, and it's worth $4,285 now, what rate of return did you earn on your investment? 14.283% 4.593% 4.760% 5.950% 3.471%Suppose you invest $1,200 in an account paying 4% interest per year. a. What is the balance in the account after 2 years? How much of this balance corresponds to "interest on interest"? b. What is the balance in the account after 25 years? How much of this balance corresponds to "interest on interest"?