This preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: annual compounding. 4. If you deposit 2000 a year in a savings account that earns 10% interest, how much will you have: A) After 10 years assuming you start your payments at the end of the first year? B) After 10 years assuming you start your payments today (and continue to make a payment at end of year 10). Calculator note: if you set payments to beginning of period and n=10, it will tell you FV as of end of year 10, but it won’t include deposit you make at end of year 10. If you set payments to beginning and n=11, it will tell you FV as of end of year 11. You would need to discount that to end of year 10. ARE 142 Personal Finance Fall 2009  Heather Rose Answers Question 1 A) 386.66 B) 23,199.60 C) 20,000 D) 3,199.60 Question 2 A) 310,867.82 B) 349,100.78 Question 3: 27,791.61 Question 4 A) 31,874.85 B) 37,062.33...
View
Full
Document
This note was uploaded on 09/08/2010 for the course ARE ARE 142 taught by Professor Rose during the Winter '09 term at UC Davis.
 Winter '09
 ROSE

Click to edit the document details