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 99 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
Wow, this really help

lkanara2

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Hormonal regulation of digestion rate in the stomach and small intestine. Hormonal regulation of digestion rate in the stomach and small intestine.
Acceptable ranges of heart rate Acceptable ranges of heart rate
Influence of substrate concentration on the rate of an enzyme-catalyzed reaction. Influence of substrate concentration on the rate of an enzyme-catalyzed reaction.
How to calculate compound interest (Part 1) How to calculate compound interest (Part 1)
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
A mortgage loan of $132,000 at 6% compounded semiannually is to be amortized over 25 years by ... A mortgage loan of $132,000 at 6% compounded semiannually is to be amortized over 25 years by ...
Video: Energy sources - types

For a complete list of videos, visit our video library