Could someone help me with this please? That would be great! Claire
How much will accumulate in an account with an initial deposit of $100, and which earns 10% interest compounded quarterly for three years? A) $107.69 B) $133.10 C) $134.49 D) $313.84
and how much must be invested today in order to generate a five-year annuity of $1,000 per year, with the first payment one year from today, at an interest rate of 12%? A) $3,604,78 B) $3,746.25 C) $4,037.35 D) $4,604.78
Sure!
D) $313.84
B) $3,746.25
Other quick questions?
Joe R.
Hi Joe,
Excellent! Thank you SO much :-)
Have a great day Claire
Joe Random wrote:
LOL
I reckon he emailed the questions from an exam! lol
You are welcome!
Joe R.
"Claire" wrote
Now that depends on whether it is "10% per quarter" or "10% per annum"!
If "10% per quarter", then Joe is right; but the question setter might be expecting you to use "10% per annum, compounded quarterly", in which case the correct answer is:
C) $134.49
"Claire" wrote
I can't see where Joe got his answer here; the correct answer is, of course, :-
A) $3,604,78
hence my 'LOL' they really shouldnt expect that just because you get an answer on usenet its right ...welcome to wiki_finance_net where the answers might be correct, but with no workings, how is anyone to know:?
"Tumbleweed" wrote
Yep, agreed! And you never know, I might be wrong ... !! ;-)
She would NEVER have passed her maths homework without you, Joe.
=)
"Sally" wrote
She'll never pass *with* him either, as his answers are wrong!
That's why I never play lottery - I am just unlucky :[
Joe R.
"Joe Random" wrote
So you just *guessed* the answers? Shame on you!
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