Posted: October 29th, 2022
Answer this 5 questions
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1.What is the future value of $100 invested at 5% for 6 years?
2. What is the present value of $100 received in 6 years if the interest rate is 5%?
3.What is the future value of $100 invested at the end of each year at 5% for 6 years?
4.You need $15,000 in 3 years for a new car. If you can deposit money into an account that pays an APR of 5.5% based on daily compounding, how much would you need to deposit?
5. Suppose you deposit $50 per month into an account that has an APR of 9%, based on monthly compounding. How much will you have in the account in 35 years?
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