5. How much will $8,000 invested at 3 percent interest be worth in three years...
80.2K
Verified Solution
Link Copied!
Question
Finance
5. How much will $8,000 invested at 3 percent interest be worth in three years if it is compounded annually? Quarterly? How much if the interest rate is 5 percent? Use Excel to solve. 6. If someone offered to pay you $5,000 a year for five years and you could earn 6 percent interest per year, how much would that be worth today? Use Excel to solve. 7. Suppose that you have $50,000 and need to invest it so that you will have $1,000,000 twenty years from now to repay a debt. What interest rate do you have to earn, assuming monthly compounding? Use Excel and be sure to format the cell where the answer will be shown, so that it provides the solution as a percent, with an appropriate number of decimal places
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
