Determine the amount of money in a savings account at the end of 3 years, given an initial deposit of $5,000 and a 16 percent annual interest rate when interest is compounded

Q: One year from today you must make a payment of $13,000. To prepare for this payment, you plan to…

A: A periodic payment is the set of payments that a borrower makes to the lender or the deposits that…

Q: You deposit $300 in an account earning 5% coumpound interest for 4 years. Find the future value and…

A: Deposit is $300 Interest Rate is 5% Time Period is 4 years Note: According to Banker's Rule, there…

Q: How much will accumulate in an account with an initial deposit of $100, and which earns 10% interest…

A: Future value can be referred to as the value of an underlying asset or security at a future date.…

Q: Assume you deposit $5,700 at the end of each year into an account paying 11. interest. a. How much…

A: Yearly Deposit are of $5,700 Interest rate is 11% Time period is 19 years for Part(A) and 38 Years…

Q: Your bank pays 8% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: Annual interest rate = 8% Semi annual interest rate (r) = 8%/2 = 4% Semi annual deposit (P) = $ 900…

Q: Your bank pays 4% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: Compounding interest semiannually indicates that the principle of a loan or investment includes the…

Q: enny puts $200 into a savings account today, the account pays an annual interest rate of 5%, but…

A: PV = 200, N = 1, rate = 5%/2, PMT = 0 use FV function in Excel balance in the account after 6 months…

Q: A bank pays 6% interest, compounded semiannually. Use the appropriate formula to find how much…

A: Present Value of Annuity Due refers to a concept which dictates the discounted value of cash flows…

Q: Harry Morgan plans to make 30 quarterly deposits of P200 into a savings account. The first deposit…

A: Solved using Financial Calculator  N= 30 (7.5 * 4 = 30) I/Y = 8/4 = 2 PMT = 200 CPT FV = 8113.62

Q: At the end of each quarter, a life insurance client deposits PhP 9,174 for 5 years. If money is…

A: The amount of saving can be calculated as future value of annuity.

Q: A bank offers an investment account with an annual interest rate of 1.38% compounded daily. Raina…

A: Data given: Principal amount = $ 3600 Interest rate =1.38% compounded  daily Time= 3 years   Given:…

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 need $40,000 five years from determine the minimum amount of money you need to deposit into…

A: Working note:

Q: uch money should be deposited annually in a bank account for five years if you wish to withdraw…

A: Present value is the sum of the current value of money of future cash flows. It is also known as a…

Q: Suppose an individual makes an initial investment of $2,600 in an account that earns 7.8%,…

A: Here, Initial Investment is $2,600 Interest Rate is 7.8% Compounding period for deposit and…

Q: Compute the annual interest, total interest, and amount to be received or paid at the end of the…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: Fill in an amortaization table for a loan of $9,300 to be paid back over 4 years, semiannually. At…

A: The amortization table is a table that shows the payment, interest and principal repayment of each…

Q: Mark Welsch deposits $7,500 in an account that earns interest at an annual rate of 12%, compounded…

A: When a person deposits a lump-sum amount with the bank, for a fixed period of time, it is known as…

Q: You receive a credit card application from Shady Banks Savings and Loan offering an introductory…

A: An interest is the amount that has to be paid or received for the period of unpaid balance.

Q: Suppose that you deposit $7000 in a savings account that pays 4% annual interest, with interest…

A: future value can be calculated from present value using interest rate and given period of savings in…

Q: You initially deposit $3,000 in to a savings account for 5 years, paying 6% compounded annually.…

A: Savings accounts is referred to as an interest bearing deposit account, which used to held at the…

Q: You deposit $300 in an account earning 5% coumpound interest for 4 years. Find the future value and…

A: Future value can be using following in excel   FV (rate, nper, pmt, [Pv], [type]) Rate The interest…

Q: A man will deposit Php 200 with a savings and loan association at the beginning of each 3 months for…

A: Present value of deposit amount= Php 200 Time period (n)= 3 months for 9 years Interest rate= 5.5%…

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 receive a credit card application from Shady Banks Savings and Loan offering an introductory…

A: Interest rate per month in first six months would be (0.6%÷12) = 0.05%. Interest rate per month in…

Q: A person deposits $150 per month into a savings account for 2 years. If $75 is withdrawn in months 4…

A: Cash is considered as one of the most important and valuable factors of the business, without which…

Q: Use the appropriate formula to find the future value (in $) of $900 deposited at the beginning of…

A: The present value method is used to evaluate the different levels of investment projects. With the…

Q: You deposit $400 in an account earning 8% coumpound interest for 2 years. Find the future value and…

A: Given That: P=$400 r=0.08 t=2 years

Q: On each December 31, you plan to transfer $2,000 from your checking account into an…

A: Future value: It refers to the sum of money that will be received by the investor in the future by…

Q: A person deposits $150 per month into a savings account for 2 years. If $75 is withdrawn in months…

A: When there is no iterperiod interest, which means the interest will be paid for balance at the start…

Q: You plan to invest an amount of money in a five-year certificate of deposit (CD) at your bank. The…

A: future value formula: future value=present value×1+rmm×n given, r=12% n=5 years fv=$7500 m=4…

Q: Your bank pays 8% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: Future Value of Annuity Due refers to the concept which dictates the compounded value of a sum of…

Q: You wish to save $51000 in an account which pays 4% compounded monthly by making semiannual deposits…

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 $500 in an account earning 7% compound interest for 3 years. Find the future value and…

A: In order to find the future value and interest earned one has to take help from excel and use…

Q: If a Commercial Bank A offers its savers a 10.3% annual interest rate and pays interest annually,…

A: ASSUMING THE PRESENT VALUE (INVESTMENT)= 1000 FIND OUT FUTURE VALUE OF INVESTMENT    ANNUALLY…

Q: Determine the value at the end of three years of a $10,000 investment (today) in a bank certificate…

A: The formula to calculate future value is given below:

Q: You deposit $300 in an account earning 5% coumpound interest for 4 years. Find the future value and…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Suppose an individual makes an initial investment of $1400 in an account that earns 7.8%, compounded…

A: Future value of a cashflow is the present value of the cashflow compunded at future date at…

Q: You are  planning to start a business in 5 years. You have decided to deposit  Shs. 400,000 in a…

A: As the amount is required in future, future value formula will be used to calculate the amount…

Q: Determine the interest rate earned on a $2,300 deposit when $2,600 is paid back in one year. (Round…

A: Future value = Present value * (1+interest )^n N is no. of years.

Q: How much money must be deposited in a savings account each quarter in order to accumulate $10,000 at…

A: The Future Value of the annuity is the total value of all the payments which is occurred regularly…

Q: A person deposits $100 per month into a savings account for 2 years. If $75 is withdrawn in months…

A: Cash flow diagram is needed.