Gabriel is able to save 10,000 pesos every month from his salary. If he decides to invest in a special deposit account offering an interest rate of 5% annually, how much money would he have at the end of 3 years?

Q: Roland just put RM1,000 in the fixed deposit and intend to leave it there for 10 years. If the bank…

A: Formula Future value = PV*(1+(i/c))n*c Where PV = Present value i.e. RM1,000 i = Interest rate i.e.…

Q: Matt is saving to buy a new motorcyce. If he deposits $60 at the end of each month in an account…

A: The amount at the end of 15 months can be calculated with the help of future value of annuity…

Q: Kiki bought a computer for Rp. 8,000,000, -. If he bought it With credit, he must prepare advance…

A: The portion of the purchase price of goods and services that are paid immediately at the time of…

Q: anny is saving towards his vacation. He has determined that the total cost including airfare and…

A: Given:   Cost of vacation 5000 Monthly savings  400 Time of deposit Month-end Annual…

Q: Mark deposits $50,000 now into an account which will eam interest at a rate of 7% per year, how much…

A: Present value = $50,000 Interest rate = 7% Number of years = 4

Q: Muaz will need $130,000 in 4 years to buy a piece of property. He plans to save money by making…

A:

Q: Joe opens an investment account with an initial deposit of $200. He then sets up monthly deposits of…

A: Future value = Present value * (1+r)^n Where r =rate of interest per period i.e. 5.25%/12 = 0.4375%…

Q: how much must brix save in his account at the end of each month in order to have 125,000.00 at the…

A: Monthly Compounding Interest Rate = 5.88%/12 = 0.49% per month Time Period = 5 years × 12 = 60…

Q: Robert wants to deposit $300 into a fund at the beginning of each month. If he can earn 10%…

A: Given information : Monthly deposit = $300 Interest rate = 10% Tenure = 6 years

Q: Julie deposits $600 at the end of each month into her savings account. If the amount earns 5.25%…

A: In finance, the term annuity depicts a sequence of cash flows over a specific time duration. Each…

Q: Jeremy is investing $5,000 today and will do so at the beginning of another nine years for a total…

A: The future value of the annuity due is the future worth of a cash flow series receivable/period at…

Q: If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: How much should Ryan have in a savings account that is earning 2.50% compounded monthly, if he plans…

A: Present Value of Annuity: It represents the present worth of the future cash flows stream and is…

Q: Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He…

A: Payout annuity is the amount that an investor receives at a regular interval after a certain period…

Q: Saturnino won a lottery and will receive a check for P700,000 at the beginning of each quarter for…

A: An annuity is a periodic cash flow that occurs at regular intervals. The future value of the annuity…

Q: Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants…

A: The rate of interest required to have the desired amount can be calculated with the help of rate…

Q: Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he…

A: The correct answer for the above mentioned is given in the following steps for your reference.

Q: He wants to deposit his savings into a bank account. How much does Jacob have to deposit now in the…

A: Present Value The present value is the value of cash flow stream or the fixed lump sum amount at…

Q: Joel is considering putting a $2400 laptop purchase on his credit card, which has an interest rate…

A: When something is purchased on credit, the amount can either be paid as a lump sum or in…

Q: Charlie wants to withdraw $12,000 each year forever from his account. At an interest rate of 6% per…

A: Perpetuity is the stream of cash flows or payments that are made at equal intervals that do not have…

Q: Lloyd would like to save $4,300 at the end of every year for the next 3.5 years in a savings account…

A: Interest earned:  If the cash basis of accounting is being used, then the amount of interest earned…

Q: Enrique already knows that he will have $300,000 when he retires. If he sets up a payout annuity for…

A: Given: Present value = $300,000 Interest rate = 4.55% Year = 15 Interest compounded = Quarterly

Q: Andrew would like a retirement income of $3,000 per month (beginning of month payments) for 19 years…

A: Retirement income is $3000 per month Time period is 19 Years Interest rate is 3.6%

Q: Andrew has an annuity that pays 4.4% annual interest compounded monthly and at the end of each month…

A: We need to calculate future value of annuity for the above question Formula: FV=PMTi(1+i)n-1 Where,…

Q: Cheryl is setting up a payout annuity with her bank. She wants to receive a payout of $1200 per…

A: Using excel PV function

Q: It is now five years later, and Adrian has saved enough money for a 20 percent down payment on a…

A: Time value of money: Time value of money refers to the concept that the value of money available at…

Q: Kyle needs to have ₱ 37,000,000 for retirement in 10 years. His account earns 3% interest.  How…

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

Q: Jacob has 5000 dollars and wants to earn 6500 dollars from the bank. If the bank gives a compound…

A: It will take 6.69 years for Jacob to reach 6500 dollars

Q: John deposits $1500 into a savings account earning simple interest at 2.19% annually. How much will…

A: Calculation of actual amount in account in future: Answer: John will have $1,582.13 in his account…

Q: Harry Taylor plans to pay an ordinary annuity of $6,000 annually for ten years so he can take a…

A: Ordinary Annuity is series to equalized payments received or made over periodic interval at end of…

Q: John contributes $5,000 per month into an account. How much will he have in the account after 25…

A: In the given question we require to calculate the future value of account after 25 years is john…

Q: Bozo decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per…

A: The periodic payment is the amount that will be paid every period until the loan amortized which…

Q: Mark deposits $40,000 now into an account which will earn interest at a rate of 8% per year, how…

A: Present value of annuity concept is used to calculate the annual withdrawal amount.

Q: Karen wants to have $22,559 in her investment account in 5 years. If her bank offers an annual…

A: Following details are given in the question : Future value = $22559 Time period = 5 years Interest…

Q: Wesley is offered an investment savings plan which will require him to commit a ixed amount of…

A: Part C-1 Future Value 500,000 Time period 5 years Interest rate is 6% Part C-2 Monthly deposit…

Q: Rosina plans on saving $2000 a year and expects to earn an annual rate of 6.9 percent. How much will…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: Sara decides to set up a retirement fund by depositing $24 at the end of each day for 13 years. How…

A: Let's begin by calculating Effective Interest rate Formual for Effective Interest Rate = (1  +…

Q: Winston is saving for a trip that he'd like to take for his 25th birthday in three years. If he…

A: The future value of the annuity is the future worth of a cash flow series at a certain rate of…

Q: Hannah wants to have $1500 to help pay for a new deck in 13 years. If she wants to put her money…

A: Present Value = Future value / e^rt Where r = 8.50% t = 13 years

Q: Kelvin has 45 years left until retirement and wants to retire with RM4 million. Assuming that his…

A: First we need to calculate he monthly payment to accumulate the amount required for retirement .…

Q: Suzana would like to accumulate RM5,000 in 3 years in a saving account which pays 6% annual interest…

A: A.  Monthly deposit at the end of the month P= PMT * ((1+r)^n-1)/r P= future value of annuity PMT=…

Q: Harry plans to deposit $3,000 at the beginning of each year into a savings account earning 2.75%…

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

Q: Mr & Mrs. John have decided to start a monthly savings program in order to provide for their son's…

A: Accumulated amount (F) = RM 50,000 Annual interest rate = 6% Monthly interest rate (r) = 6%/12 =…

Q: Hudson would like to purchase a new car for $12,000. How much will his monthly payments be if he…

A: Loan amount (PV) = $ 12000 Interest rate = 6.5% Monthly interest rate (r) = 6.5%/12 =…

Q: Kurt wants to have RM25,000 in an investment account four years from now. The account will pay 0.2…

A:

Q: Rodney would like to save $57,000 over the next 15 years. How much must he deposit at the beginning…

A: Annuity refers to the fixed periodic payments which are paid monthly, quarterly, semi-annually or…

Q: Mrs Sam has deposited $ 18,000 in a bank at the rate of 7% per annum. Find out how much she will…

A: Given: Deposit = $18,000 Period 12 years Interest rate = 7% or 10%

Q: If he deposits 2000 at the end of every year into a special account for seven years and the bank…

A: This problem can be solved in light of annuity and future value. Total amount in the deposit account…