Quantitative Problem 2: Today, you invest a lump sum amount in an equity fund that provides an 10% annual return. You would like
1 answer:
Answer:
$6,322.11
Step-by-step explanation:
The future value of a lump sum (S) invested today at an interest rate 'r' for a period of 'n' years, if interest is compounded annually is:
In order to obtain $11,200 after 6 years, the required investment at a 10% rate per year is:
You need to deposit $6,322.11 today in order to reach your goal in 6 years.
You might be interested in
Answer:
Step-by-step explanation:
To determine the system of inequality that has been graphed, we need to be very smart.
Observe that all the equations are the same.
Also note that all the lines are solid. This should tell you that the inequities should involve.
Therefore the answer is between option A and B.
So we choose a point in the solution region to discriminate between A and B.
Let us choose the origin since that is easy to evaluate.
We substitute into option A to get.
The above statements are false
We now substitute into option B
Both statements are true, therefore the correct answer is option B.