Instructions: Answer the five following parts to Question 1. SHOW FULL WORK AND DON'T...
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Finance
Instructions: Answer the five following parts to Question 1.
SHOW FULL WORK AND DON'T ROUND UNTIL YOU GET YOUR FINAL ANSWER
1A. Suppose you invest $51,293 today in an account that earns 8.42% interest annually. How much money will be in your account 19 years from today?
1B. What is the value today, of single payment of $90,033 made 16 years from today, if the value is discounted at a rate of 2.14%?
1C. How many years would it take an investment of $878 to grow to $13,468 at an annual rate of return of 27.09%?
1D. How much money would you need to deposit today at 5.29% annual interest compounded monthly to have $4,843 in the account after 11 years?
1E. If you deposit $450 into an account paying 19.07% annual interest compounded quarterly, how many years until there is $92,742 in the account?
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