An investment will pay 6100 dollars at the beginning of 1998, 11500 dollars at the beginning of 2003, and another X dollars at the beginning of 2010. If the present value of the investment at the beginning of 1993 is 11318.59 dollars and the rate of interest is 7.21 effective, what is X?
=_________ dollars.
2. Julia Roberts deposits 4100 dollars in an account paying an effective rate of interest of 6.8 percent. Three years later, she withdraws 1900 dollars. If there are no other transactions, how long will it take (from the time of the first deposit) for her account balance to reach 9400 dollars? (Assume simple interest between compoundings.)
=________ years and ________ days.|||Please award, cause it is a little more of a pain than other questions
1 - x = $6843.21 in year 2010 (if 1993 is your discounting start point)
2 - 18 years and 175 days.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment