7,398,000
The total interest would be 73606.07 dollars, approx.
You need to invest 42027.98
6084
6947.91 will be sufficient.
To determine the amount needed to deposit today, we can use the present value of an annuity formula. The present value (PV) of an annuity can be calculated using the formula: ( PV = P \times \frac{1 - (1 + r)^{-n}}{r} ), where ( P ) is the annual withdrawal amount ($7,000), ( r ) is the interest rate (0.06), and ( n ) is the number of years (10). Plugging in these values, the present value needed today would be approximately $57,221.
The total interest would be 73606.07 dollars, approx.
You need to invest 42027.98
1050*5/100
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.
6084
10 percent.
2532
As of today, there was no one set interest rate in 1968. On a CD, the interest rate averaged between 5.53 percent and 6.39 percent in 1968. The 2013 rates on CDs are only 1.0 - 1.5 percent.
To determine how much you need to invest today to receive $15,600 in 5 years at a 10% annual interest rate, you can use the present value formula: (PV = \frac{FV}{(1 + r)^n}), where (PV) is the present value, (FV) is the future value ($15,600), (r) is the interest rate (0.10), and (n) is the number of years (5). Plugging in the values: (PV = \frac{15600}{(1 + 0.10)^5} = \frac{15600}{1.61051} \approx 9687.14). Thus, you would need to invest approximately $9,687.14 today.
1 million pounds, go buy a bentley
A dollar tomorrow would be worth more to you today when the interest rate is 10 percent compared to 20 percent. This is because a lower interest rate results in a smaller discounting effect, making the present value of that future dollar higher. At 10 percent, the future value is discounted less, meaning it retains more of its worth in today's terms. Conversely, at 20 percent, the dollar's present value decreases more significantly, making it less valuable today.
Five years ago, the interest rates on mortgages was only at 0.5 percent. As of today, interest rate on mortgage soared to 2.5 percent. That is 500 percent increase for the past five years.