$ 150 weekly in saving account at 4.00% interest compounded saving any money. a.how much will you have at the end of 5.5...
$ 150 weekly in saving account at 4.00% interest compounded saving any money.
a.how much will you have at the end of 5.5 years?
b. 250 monthly for the next 5 years discount 4%. what is the cost today?
c.15 % every year compounded quaterly, effective annual. what is the rate you are going to pay.
Homework Answers
Using Microsoft Excel:
1.
=FV(4%/52,5.5*52,-150)=$47,964.41
2.
=PV(4%/12,12*5,-250)=$13,574.77
3.
=(1+quarterly annual rate/4)^4-1
=(1+15%/4)^4-1=15.87%
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