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You didn't specify how long you wanted to pay in and what frequency so I made assumptions. FV (Future Value) = $15,600 1 year = $185/month
1050*5/100
If you invest $1,000 today in a security paying 8 percent compounded quarterly, how much will the investment be worth seven years from today?
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2532
You didn't specify how long you wanted to pay in and what frequency so I made assumptions. FV (Future Value) = $15,600 1 year = $185/month
You need to invest 42027.98
1050*5/100
7,398,000
If you invest $1,000 today in a security paying 8 percent compounded quarterly, how much will the investment be worth seven years from today?
Because a dollar received in the future is worth less to you than a dollar available to invest today. The further in the future you receive funds, the less is their value to you today.
The total interest would be 73606.07 dollars, approx.
You cannot, even in a good economy. Today you might make 5 percent per year. In the good times, you might make 20 percent per year. But, never, 30 percent per month.
170000/160000-1= .0625 = 6.25%
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