HIRE QUALIFIED ACADEMIC WRITERS
1.You deposit $ 760 in an account one time that compounds monthly at 2 percent. How much will you have in your account at the end of 10 years? 2.A balloon payment of $ 21,000 on your house is due in 10 years. If you can earn an average of 5 percent per year for the 10- year period, how much must you place into an account today to have the $ 21,000 in 10 years?3.If you want an effective rate of 5 percent, what is an acceptable quoted rate if money is compounded monthly?4.If inflation averages 4 percent per year, how much purchasing power will $ 1.00 loose in 10 years?5.At the beginning of each year, you deposit the following into a growth mutual fund that earns 6 percent per year: Year Deposit1?5,000.002?7,500.003?4,500.004?5,500.005?6,200.00Total?28,700.00?How much should the fund be worth at the end of 5 years?6.Rochelle Kotter wants to attend a university 5 years from now. She will need $ 88,000. Assume Rochelle’s bank pays 3 percent interest for a 5- year CD compounded monthly. What must Rochelle deposit today to accumulate $ 88,000 in 5 years?
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