volora
Feb 23, 2009, 06:46 PM
I want to make sure I have the right answers and any feedback would be greatly appreciated.
Assume Sheryl Jenkins wants to accumulate $557.91 in two years. She currently has $491.82 to invest. What interest rate must she earn on her investment (that is, if she deposits $491.82 today) to have $557.91 exactly two years from today?
Answer: 1.13
2. Your neighbor is asking you to invest in a venture that will double your money in 2 year(s). Compute the return the he is promising you?
Answer: this one I can't figure out and the book is confusing me and any help would be really appreciated
3. You want to withdraw $56,727 from your account at the end of one year and $41,116 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals?
Answers: 2,252
Assume Sheryl Jenkins wants to accumulate $557.91 in two years. She currently has $491.82 to invest. What interest rate must she earn on her investment (that is, if she deposits $491.82 today) to have $557.91 exactly two years from today?
Answer: 1.13
2. Your neighbor is asking you to invest in a venture that will double your money in 2 year(s). Compute the return the he is promising you?
Answer: this one I can't figure out and the book is confusing me and any help would be really appreciated
3. You want to withdraw $56,727 from your account at the end of one year and $41,116 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals?
Answers: 2,252