A person deposits $200 every month for 7 years. If the account pays 4% compounded monthly then how much is in the account after the last deposit?

Q: If you deposit $250 each month into an individual retirment account that earns 4.8% interest…

A:

Q: How much must be deposited at the beginning of each year in an account that pays 3% compounded…

A: Time value tells that amount received today is of more value than that of receiving the exact value…

Q: suppose that you would like to save $20,000 over 5 years to use as a down payment for a house by…

A: Computation of monthly deposit:Hence, the monthly deposit into the account is $301.66 per month.

Q: Deposits of $1000 are made semiannually into an account which earns 8% semiannually. If the deposits…

A: given data $1000 deposit are made semiannually for 9 years  it earns 8%  compounding interest…

Q: An individual makes 6 annual deposits of P2,000 in a savings account that pays interest rate of 4%…

A: Annual deposit = P 2000 Number of annual deposit = 6 Interest rate for first 8 years = 4% Interest…

Q: You plan to put some money into an account so that for the next 4 years you can withdraw $912 from…

A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: You deposit $10,000 in a bank that pays an annual interest rate of 6% compounded quarterly how much…

A: We need to use compound interest formula for calculation of amount after 5 years A=P(1+r)n Where…

Q: At the end of each quarter, a life insurance client deposits Ph 6,176 for 5 years. If money is worth…

A: Quarterly deposit (P) = Ph 6,176 Interest rate = 5.3% Quarterly interest rate (r) = 5.3%/4 = 1.325%…

Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…

A: Future value of a value is the amount which the grow from the principal amount to future amount with…

Q: You deposit $24,000.00 in an account that pays 6% compounded quarterly and immediately start making…

A: In this problem you have to find out present value FACTOR and find out quarterly deposits.

Q: If you deposit $8700 today in an account that pays 8.5% per year, compounded quarterly, how much…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: How much would you need to deposit in an account right now in order to have $2,000 in the account in…

A: Amount = $2,000 = A Time period = 10 years = T  Interest rate = 2% = R Compounded monthly where it…

Q: Most people prepare for retirement by depositing money into a monthly or annual savings plan. An…

A: An annuity is a stream of equivalent periodic cash flows over a specific time duration. The future…

Q: If you deposit $6800 today in an account that pays 5.0% per year, compounded quarterly, how much…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You plan to deposit $900 PER YEAR into an account earning 5.25% interest compounded annually. How…

A: Since you posted multiple questions ,we will solve the  second page last question for you. if u want…

Q: You invest $10,000 in an account which pays 3% compounded monthly. How much is in the account after…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't…

A: using excel fv function

Q: How much must I deposit into an account every month to have $1,500,000 in 15 years at a rate of 7%…

A: A recurring deposit is a special type of term deposit offered by banks which help people with…

Q: You deposit $500 each month into an account earning 5% interest compounded monthly. a) How much…

A: The future value is the value of amount in future that has to paid or received at current or in…

Q: You are going to withdraw OMR5,000 at the end of each year for the next four years from an account…

A: Calculate the present value by using excel as follows: Present value is 16,198.60…

Q: You put $1,000 into a savings account today that offers a 5% APR with semi-annual compounding (i.e.,…

A: Compound the money invested provides the future value of an investment.

Q: how much do you need to deposit now in a bank paying 6% interest compounded monthly if you want to…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: You deposit $5000 at the beginning of each year into an account earning 3% interest compounded…

A: Introduction: Annuity Due: It refers to the series or stream of equal payments made at the beginning…

Q: An individual makes five deposits that increase uniformly by Php. 300.00 every month in a saving…

A: Number of deposits = 5 Annual increase in deposits = Php 300.00 First deposit = Php. 4500.00…

Q: You wish to save $58000 in an account which pays 7% compounded quarterly by making monthly deposits…

A: Given:   Expected value in the account in future  $58,000.00 Interest rate per year 7%…

Q: You wish to save $76000 in an account which pays 5% compounded semiannually by making annual…

A: FUTURE VALUE OF ANNUITY =A×1+RMN×m-1RM WHERE, A=annuity R=rate of interest N= number of years M=…

Q: If you deposit $3,500 into an account earning an annual rate of 11% what would your account be worth…

A: To calculate the value of account after 35 years we will use the below formula   Value after 35…

Q: You make deposits of $300 each year for the next 17 years at 5 % compounded annually. How much is in…

A: Annual deposit (P) = $300 Interest rate (r) = 5% Period (n) = 17 Years

Q: What is the amount a person would need to deposit today to be able to withdraw $6,000 each year for…

A: Present value (PV) is the current value of future money or cash flows at a specified rate of return.…

Q: You put $1,000 into a savings account today that offers a 55% APR with semi-annual compounding…

A: GIVEN, PV = $1000 N = 2 M = 2 (SEMI ANNUAL) R=55%

Q: CNB, Inc. will deposit $25,000 into a money market account at the end of each year for the next…

A: Compound Amount= A=P(1+r)nt   A= FInal amount P= Initial Investment r= interest rate t= No. of times…

Q: How much must be deposited at the beginning of each month in an account that pays 6% compounded…

A: Monthly rate = 6%/12 = 0.5% Number of periods = 7*12 = 84 Future value required is $31,000 Find…

Q: $400 is deposited at the end of each month for eight years. For the first five years, the rate is 3%…

A: Deposit : 400 End of each month Total Time Period = 8 years * 12 = 96 months Interest Rate for first…

Q: How much must be deposited at the beginning of every six months in an account that pays 4%…

A: The amount which is deposited at the beginning of each period is called as annuity due. The period…

Q: You deposit $6000 in an account earnings 7% interest compounded monthly. How much you will you have…

A: future value formula: future value = present value×1+RMM×N where, R=rate M=frequency

Q: You deposit $83000 into an account which pays 6% compounded semiannually. How much can you withdraw…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Present Value is the today's value of a future amount at a given interest rate for a specified time…

Q: For 8 years, $52 is deposited each week into an account that earns 2.1% interest, compounded weekly…

A: This question has two parts, First - $300 compounding every week for 8 years which is  simple…

Q: You deposit $300 each quarter into an account earning 5.8% interest compounded quarterly. a) How…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: You deposit $500 each monthinto an account earning 3% interest compoundedmonthly. a) How much will…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: You deposit $3000 in an account earning 3% interest compounded monthly. How much will you have in…

A: Given:Deposit amount=$3000Rate=3% interest compounded monthly.To compute:Amount in account after 15…

Q: A man deposits 320 at the end of each three months in an account paying 6% converted quarterly. In…

A: No of deposits required can be calculated using the formula of the future value of annuity.

Q: ABC bank pays interest at the rate of 2% compounded quarterly. How much will Ken have in the bank at…

A: Periodic Payment = P 3,000 per month Interest Rate = 2% compounded Quarterly Time period = 5 Years

Q: You have decided to put $130 in a savings account at the end of each month. The savings account…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: At the end of each quarter, a life insurance client deposits Ph 6,366 for 5 years. If money is worth…

A: Solution:- When an equal amount is deposited each period at end of period, it is called ordinary…

Q: Beatrice deposits $75 at the end of each month into an account earning 4.75% compounded monthly. How…

A: Compound interest refers to the interest accrued not only on principal amount but also on the…

Q: A man makes a payment of 1450 at the beginning of every month on a bank that offers 6% interest. How…

A: To calculate the amount of loan we will use present value of annuity due formula that is as follows:…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.