You plan to invest in securities that pay 6.2% compounded annually. If you invest $5,000...
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You plan to invest in securities that pay 6.2% compounded annually. If you invest $5,000 today, how many years will it take for your investment to grow to $9,140.20?
a. 8.82
b. 7.92
c. 11.63
d. 10.03
e. 11.53
You want to quit your job and return to school for a MBA degree 3 years from now, and you plan to save $5,900 per year, beginning immediately. You will make three deposits in an account that pays 5.2% interest. Under these conditions, how much will you have 3 years from today?
a. $19,605.44
b. $17,840.95
c. $23,330.48
d. $19,801.50
e. $21,173.88
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