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Author Question: Your Godmother established a $3,000 bank account for you when you were born. For the first 10 years ... (Read 101 times)

shenderson6

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Question 1

Your current investment will mature in 2 years for $30,000, at which time you will reinvest the funds for 10 more years at 7% per year. What will be the value of your investment at the end of the 12th year?
◦ $59,014.54
◦ $55,153.78
◦ $61,985.74
◦ $67,565.75
◦ $52,734.41

Question 2

Your Godmother established a $3,000 bank account for you when you were born. For the first 10 years the interest rate on the account was 10%. It has been 7.5% since then. You are now 25 years old and would like to withdraw the funds. How much money do you have?
◦ $23,023.70
◦ $18,295.02
◦ $32,504.12
◦ $25,828.32
◦ $23,445.80


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Marked as best answer by shenderson6 on Apr 25, 2021

joewallace

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shenderson6

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Reply 2 on: Apr 25, 2021
Excellent


samiel-sayed

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Reply 3 on: Yesterday
Gracias!

 

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