This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: You just deposited $2,600in a bank account that pays a16% nominal interest rate, compounded ... (Read 41 times)

lrhoads

  • Full Member
  • ***
  • Posts: 158
on: Aug 7, 2023

Question 1

You have a chance to buy an annuity that pays $480at the beginning of each year for4years. You could earn 5.25% on your money in other investments with equal risk. What is the most you should pay for the annuity?

◦

$1,512.84


◦

$1,587.20


◦

$1,781.06


◦

$1,643.75



Question 2

You just deposited $2,600in a bank account that pays a16% nominal interest rate, compounded quarterly. If you also add another $5,500to the account 1 year (12 months) from now and another $7,200to the account 2 years from now, how much will be in the account 3 years (12 quarters) from now?

◦

$20,422.75


◦

$20,339.98


◦

$20,256.61


◦

$20,112.79

Financial Management: Theory and Practice ¦ Brigham, Ehrhardt, Gessaroli, Nason ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by lrhoads on Aug 7, 2023

3ginamay

  • Full Member
  • ***
  • Posts: 158
Reply #1 on: Aug 7, 2023
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


lrhoads

  • Member
  • Posts: 158
Reply 2 on: Aug 7, 2023
YES! Correct, THANKS for helping me on my review

gcook

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif
Bank teller assisting with customer service. Bank teller assisting with customer service.
Example of Reconciling a Bank Statement Cont. Example of Reconciling a Bank Statement Cont.
Static Stability & Environmental Lapse Rate Static Stability & Environmental Lapse Rate
A Radio Telescope in Green Bank, West Virginia A Radio Telescope in Green Bank, West Virginia
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: Homologous chromosomes during prophase I - Animation

For a complete list of videos, visit our video library