If you invest $28,100 today, how much will be the balance of your account after...
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If you invest $28,100 today, how much will be the balance of your account after 25 years if the interest rate is 7.25% for the life of the investment?
Use the Function formula to compute your answer. (5 marks)
You need $60,000 ten years from today to make a deposit on your PhD degree. If a financial institution can give you 7.38% fixed annual rate on your investment,
how much cash do you have to invest today? Use the Function formula to compute your answer. (5 marks).
You are expected to retire in 35 years from today. If you make an annual deposit of $15,500 at the end of each year into an investment account that pays 10.75% annually,
how much money will your retirement account have at the end of 35 years if the interest in compounded.
Use the Function formula to compute your answer. (5 marks)
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