Suppose the state of NY bond will pay $1,000 ten years from now. If the...
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Suppose the state of NY bond will pay $1,000 ten years from now. If the going interest rate on these 10-year bonds is 5.1% how much is the bond worth today?
a. $669.10
b. $608.10
c. $628.96
d. $749.39
e. $649.03
You want to quit your job and go back to school for a law degree four years from now. You plan to save $6400 per year beginning immediately. You will make 4 deposits in an account that pays 4.7% interest. Under these assumptions, how much will you have four years from today? BGN Mode
a. $22,980.31
b. $22,685.69
c. $28,752,73
d. $29,461.93
e. $31,524.26
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