Cristina invests $140.00 a quarter for 9 years into an account earning 9% compounded quarterly. After 9 years, she leaves the money, without making additional deposits, in the account for another 18 years. How much will she have in the end and what is the total amount of her deposits? Cristina will have in her account at the end of 27 years and is the total amount of deposits she made. Hint

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 14P
icon
Related questions
Question
Cristina invests $140.00 a quarter for 9 years into an account earning 9% compounded quarterly. After 9 years, she leaves the money, without making additional deposits, in the account for another 18 years. How much will she have in the end and what is the total amount of her deposits?

Cristina will have in her account at the end of 27 years and is the total amount of deposits she made. Hint

Adam didn't invest anything for the first 9 years, then deposited $140 a quarter for 18 years into an account earning 9% compounded quarterly. How much will he have in the end and what is the total amount of his deposits?

Adam will have in her account at the end of 27 years and is the total amount of deposits he made.

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Recommended textbooks for you
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L
EBK CFIN
EBK CFIN
Finance
ISBN:
9781337671743
Author:
BESLEY
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning