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A client comes to you for investment advice on his $500,000 winnings from the lottery 6% compounded interest quarterly for 5 years.
Weegy: 500000 * (1 + 0.06/4)^(5*4) - 500000 = 173427.503275 ~= $173,428. You would earn about $173,428 if you have $500,000 at 6% compounded interest quartely for 5 years. (More)
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Education|No Subcategories|Expert Answered
Asked 1/6/2013 4:06:35 PM
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A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and requests assistance to help understand which option would be the best for his investment. • Option 2: 8% compounded interest annually for 5 years. • Option 3: 14.5% simple interest for 10 years.
Weegy: A client comes to you for investment advice on his $500,000 winnings from the lottery. [ He has been offered the following options by three different financial institutions and requests assistance to help understand which option would be the best for his investment. Answer: Option 3: 14.5% simple interest for 10 years " is simple interest choice! ] (More)
Question
Education|No Subcategories|Expert Answered
Asked 1/6/2013 5:37:05 PM
0 Answers/Comments
if investment $500,000 winnings from the lottery for 5 years at 8% compounded interest annually .what is the calculation
Weegy: FV = PV × (1+r)^n where FV = Future Value PV = Present Value r = annual interest rate n = number of periods The calculation = $500,000 x (1 + 8%)^5 = $734 664 (More)
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Education|No Subcategories|Expert Answered
Asked 1/6/2013 5:59:09 PM
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