Numerous Present and Future Value Problems
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3.19 How much money was deposited each year for 5 years if the account is now worth
$100,000 and the last deposit was made 10 years ago? Assume the account earned interest
at 7% per year.
4.11 What nominal interest rate per year is equivalent to an effective 16% per year compounded semiannually?
4.17 Deposits of $100 per week are made into a savings account that pays interest of 6% per year,
compounded quarterly. Identify the payment and compounding periods.
4.21 A company that specializes in online security software development wants to have $85 million
available in 3 years to pay stock dividends. How much money must the company set aside now
in an account that earns interest at a rate of 8% per year, compounded quarterly? $67.02 mil
4.44 What effective interest rate per year, compounded continuously, is equivalent to a nominal rate of 13% per year?
3.19 How much money was deposited each year for 5 years if the account is now worth
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Solution Summary
This solution illustrates the solutions to numerous present and future value problems involving lump-sums and annuities.
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