Question

7. How much would you expect to have in 13 year(s) assuming you deposited $28,687 in an investment that will earn 9%. Round answer to the nearest penny.

8. How much did I invest 39 year(s) ago at an interest rate of 14% if I now have $26,621? Round your answer to the nearest penny.

9. How much should I save today in an account paying an interest rate of 8% in order to have $13,614 in 40 year(s)? Round your answer to the nearest penny.

10. How much will you need to invest today at an interest rate of 7% in order to have $13,751 at the end of 3 year(s). Round your answer to the nearest penny.

11. What is the value today of $17,548 that will be received at the end of 33 year(s) having earned an interest rate of 13% while invested? Round your answer to the nearest penny.

12. What amount would you tell a friend to deposit in an investment earning an interest rate of 12% if the friend needs $5,969 to make a down payment on a new car in 32 year(s). Round your answer to the nearest penny.

Answer 1

7

Future value = present value*(1+ rate)^time

Future value = 28687*(1+0.09)^13

Future value = 87948.74

8

Future value = present value*(1+ rate)^time

26621 = Present value*(1+0.14)^39

Present value = 160.67

Please ask remaining parts seperately, questions are unrelated, I have done one bonus