Please help me on the Formula on how to perform the following problems so as I get to do them.
You have just deposited X dollars in your bank account that pays interest of 5 percent p.a. You discover that at the end of one year you have $ 17,274 in the account. What was X, that is, the amount of money that you deposited today?
You want to withdraw $ 24,784 from your account at the end of one year and $ 44,085 at the end of the second year. How much should you deposit in your account today so that you can make these withdrawals? Your account pays 4 percent p.a.?
You deposit $ 6,922 in your account today. You make another deposit at t = 1 of $ 5,981 . How much will there be in your account at the end of year 1 if the interest rate is 7.4 percent p.a.?
You deposit $ 72,462 in your account today. You make another deposit at t = 1 of $ 80,126 . How much will there be in your account at the end of year 2 if the interest rate is 15 percent p.a.?
Your account pays interest at 11 percent p.a.. You deposit $ 38,692 in it today. You must have exactly $ 88,948 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to ensure this?
You invest $ 4,596 in an account today. You make no additional deposits into the account. One year from today there is $ 5,055 in the account. What is the nominal interest rate that you earned on your money?
Assume Bill Jones invested $ 2,148.19 into an account exactly one year ago. The account has an interest rate of 5.6 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)?
Assume Jed Gerbil invested $ 11,249 into an account exactly two years ago. The account has an interest rate of 10.4 % p.a. How much does Jed have in his account today (that is, exactly two years after the initial deposit)?