This topic contains a solution. Click here to go to the answer

Author Question: You plan to invest $2,500 in a money market account which will pay an annual stated (nominal) ... (Read 76 times)

itsmyluck

  • Hero Member
  • *****
  • Posts: 546

Question 1

You invest $2,500 today at an interest rate of 20% compounded annually. How much will you accumulate after 35 years?
◦ $1,476,670.57
◦ $1,230,558.81
◦ $1,506,203.98
◦ $1,772,004.69
◦ $1,974,367.39

Question 2

You plan to invest $2,500 in a money market account which will pay an annual stated (nominal) interest rate of 8.75%, but which compounds interest on a weekly basis. If you leave this money on deposit for one year (52 weeks), what will be your ending balance when you close the account?
◦ $2,583.28
◦ $2,611.72
◦ $2,681.00
◦ $2,703.46
◦ $2,728.40


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by itsmyluck on Apr 25, 2021

joneynes

  • Sr. Member
  • ****
  • Posts: 376
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 55% of students answer this correctly




itsmyluck

  • Member
  • Posts: 546
Reply 2 on: Apr 25, 2021
Thanks for the timely response, appreciate it


xoxo123

  • Member
  • Posts: 335
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

For a complete list of videos, visit our video library