10&ercentSuppose that you earned a bachelor's degree and now you' re teachingmiddle school. The school district offers teachers the opportunity to take ayear off to earn a master's degree. To achieve this goal, you deposit $1500at the end of every 3 months in an annuity that pays 5.5% compoundedquarterly. (a) How much will you have saved at the end of 11 years? (b)Find the interest. (Round to the nearest dollar. For example, $247)CirCodS011519Cds ci0sd0Qut43So

$1500 is deposited every three months for a period of 11 years at a rate of 5.5% compounded…

Answered: 10 &ercent Suppose that you earned a…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.18E

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8. Divine saved P12,000 at the end of every six months in an educational plan earns 7% per year compounded semi-annually. What is the amount at the end of 15 years?
Suppose that you earned a bachelorʹs degree and now youʹre teaching middle school. The school district offers teachers the opportunity to take a year off to earn a masterʹs degree. To achieve this goal, you deposit $1500 at the end of every three months in an annuity that pays 5.5% compounded quarterly. How much will you have saved at the end of 6 years? Find the interest.
Suppose that you earned a bachelor's degree and now you're teaching high school. The school district offers teachers the opportunity to take a year off to earn a masters degree. To achieve this , you deposit $3000 at the end of each year in annuity that pays 7.5% compounded annually. a) After 5 years, you will have approximately $.... b) The interest is approximately $....
1) How much must you deposit each year into your retirement account starting now and continuing through year 11 if you want to be able to withdraw $75,000 per year forever, beginning 27 years from now? Assume the account earns interest at 14% per year. 2) The State of Chiapas, Mexico, decided to fund a program for improving reading skills in elementary school students. The first cost is $400,000 now and an update amount of $130,000 every 7 years forever. Determine the perpetual equivalent annual cost at an interest rate of 9% per year. 3) ABC Beverage, LLC, purchases its 355-ml cans in large bulk from Wald-China Can Corporation. The finish on the anodized aluminum surface is produced by mechanical finishing technologies called brushing or bead blasting. Engineers at Wald are switching to more efficient, faster, and cheaper machines to supply ABC. Use the estimates and MARR = 8% per year to select between the two alternatives. Brush Alternative Bead Blasting Alternative P…
To offer scholarships to children of employees, a company invests $9000 at the end of every three months in an annuity that pays 9% compounded quarterly. a. How much will the company have in scholarship funds at the end of ten years? b. Find the interest.
5. A recent government study reported that a college degree is worth an extra P150,000 per year income compare to high school graduate. If the interest is 6% per year and you work for 40 years, what is the future compound amount of this extra income? Final Answer = PHP Blank 1]
44. A recent college graduate begins a savings plan at age 27 by investing $400 at the end of each month in an account that earns 7.5%, compounded monthly. (a) If this plan is followed for 10 years, how much should the monthly contributions be for the next 28 years in order to be able to withdraw $10.000 at the end of each month from the account for the next 25 years? (b) What is the total amount contributed? (c) What is the total amount withdrawn?
7 Olivia plans to make 25 annual contributions to a college saving account, with the first contribution to be made 1 year from today. There will be four annual withdrawals of $90753 starting at the end of year 22. Calculate the required size of the annual contributions if the interest rate is 2.04%." "11,625" "13,253" "13,186" "12,726" "12,775"
Use the formula for the value of an annuity to solve:To offer scholarship funds to children of employees, a company invests $15,000 at the end of every three months in an annuity that pays 9% compounded quarterly. a. How much will the company have in scholarship funds at the end of ten years? b. Find the interest.Round answers to the nearest dollar.
c.A student requires K24, 000,000 to clear an outstanding balance before graduating in four (4) years time. How much should he invest EACH YEAR END at 12% compounded annually for him to have the required amount to pay the school at the end of the two years?
Q2.2: Since the birth of his granddaughter, 15 years ago, Michael has deposited $150 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 3.75% compounded monthly for the first 8 years and 4.25% compounded monthly for the next 7 years. a. What was the accumulated value of the RESP at the end of 8 years? b. What was the accumulated value of the RESP at the end of 15 years? c. What was the amount of interest earned over the 15-year period? Kindly keep all the decimals for all the preocedures, DO NOT ROUND
34.At the beginning of every 3 months , college student deposits P300 in a fund that gives 12% compounded quarterly , If he intends to use this money for his graduation , how much money does he have in 4 years?

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