1 whats the future value of a 11 5-year ordinary annuity, Ask an Expert

Finance

1. What's the future value of a 11%, 5-year ordinary annuity that pays $600 each year? Round your answer to the nearest cent.

If this was an annuity due, what would its future value be? Round your answer to the nearest cent.

2. What is the inverse relationship between bond prices and interest rates? How do you solve current yield and rate of return for bonds?

3. Your parents will retire in 30 years. They currently have $240,000 saved, and they think they will need $2,050,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92844496

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