Can you please answer these questions Monika has $6,000 in her investment accoun
ID: 2652741 • Letter: C
Question
Can you please answer these questions
Monika has $6,000 in her investment account. She wants to withdraw her funds when her account reaches $10,000. A decrease in the rate of return she earns will:
Select one:
a. Allow her to withdraw more money sooner.
b. Cause the compounding effect to increase.
c. Cause her to wait longer before withdrawing her money.
d. Increase the value of her account faster.
e. Cause the present value of her account to decrease.
Isabelle wants to invest $1,000. She wants to withdraw her money three years from now. Which bank should she use if she wishes to maximize her investment?
Select one:
a. Bank D, which offers a rate of 5% compounded monthly.
b. Bank C, which offers a rate of 4% compounded annually.
c. Bank A, which offers a simple rate of 4%.
d. Bank B, which offers a simple rate of 5%.
e. Bank E, which offers a rate of 5% compounded annually.
You can deposit $850 today into a savings account. How long must you wait for the investment to grow to $5,000 if you can earn 6 percent on this money?
Select one:
a. 59.95 years
b. 31.45 years
c. 22.63 years
d. 23.81 years
e. 30.41 years
Three years ago, you took out a loan for $9,000. Over those three years, you paid equal monthly payments totaling $11,826. What was the APR on your loan?
Select one:
a. 18.69 percent
b. 12.80 percent
c. 20.38 percent
d. 15.45 percent
e. 13.04 percent
Explanation / Answer
Can you please answer these questions Monika has $6,000 in her investment accoun