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Category > Business & Finance Posted 30 May 2017 My Price 12.00

1. Simple Interest versus Compound Interest.

1. Simple Interest versus Compound Interest. First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually. If you made a $6,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of J0 years?

2. Calculating Present Values. You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However. the prize will be awarded on your 100th birthday (assuming you"re around to collect). 80 years from now, What is the present value of your windfall if the appropriate discount rate is 11 percent?

3. Calculating Interest Rates and Future Values. In 1895, the first U.S. Open Golf Championship was held. The winner"s prize money was $150. In 2006, the winner"s check was $1.225.000. What was the annual percentage increase in the winner"s check over this period"? If the winner"s prize increases at the same rate. what will it be in 2040?

 

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Status NEW Posted 30 May 2017 04:05 AM My Price 12.00

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