What would be the PV of the $8,500 received in 13 years if a bank...
90.2K
Verified Solution
Link Copied!
Question
Finance
What would be the PV of the $8,500 received in 13 years if a bank offering the 6.2% rate had monthly compounding? O a. $3,819.99 O b. $3,804.33 OC. $3.938.34 O d. $3,888.66 You are investing $2,250 at the end of every year for 13 years to build up a down payment for a new home. The money is invested at 5.5%, with annual compounding. How much will you have in your account at the end of the 13 years? Round to the nearest dollar. Select one: O a $30,713 O b. $41,145 c. $39,810 O d. $37,210
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: Zin AI - Your personal assistant for all your inquiries!
