Your friend spends $6 per day on lattes at his favorite coffee shop. If he were, instead, to deposit that amount each day (starting tomorrow) into an account earning 3.65% APR compounded daily, how much would he have in 40 years? (rounded to the nearest dollar) A financial security pays the owner $100 per month, What is the present value

Sep 8, 2023

  1. Your friend spends $6 per day on lattes at his favorite coffee shop. If he were, instead, to deposit that amount each day (starting tomorrow) into an account earning 3.65% APR compounded daily, how much would he have in 40 years? (rounded to the nearest dollar)
  2. A financial security pays the owner $100 per month, What is the present value of the security if the next payment is one month from today, there are 60 payments remaining, and the relevant interest rate is 9% APR compounded monthly?

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