Gregory's investment manager offers her an interest rate of 9.00% compounded monthly on her investments. How much more money would she have to deposit at the end of every month for her fund to accumulate to $599,000.00 in 12 years if the interest rate was 9.00% compounded annually?

Q: An investment banker would like to receive $1,200 at the beginning of every 3 months from her…

A: The concept of the time value of money states that the current worth of money is more than its value…

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: Jessica made equal deposits at the beginning of every 3 months into an RRSP. At the end of 8 years,…

A: Using excel PMT function

Q: Ms. Cristiana Piccini is valuing an investment that pays her $27,000 per year for the first ten…

A: Calculation of Value of Investment: Excel Spreadsheet:

Q: Juan invested $10,500 into a fund earning 7.50% compounded monthly. She plans to withdraw $700 from…

A: Working note for calculations. Note for Converting Quarter into years:- Number of year to deplete =…

Q: Steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and in…

A: Given information : Year end Cash flow 0 $10,000 1 $10,000 2 $20,000 Discount rate…

Q: Skeng would like to receive equal instalment of $250,000 at the end of each year for the next 8…

A: FORMULA PVA = P*[1-(1+R)-N]/R Where PVA - Present value of annuity P - Annual payment amount i.e.…

Q: An engineer who is saving for her retirement plans to deposit $500 every quarter, starting quarter…

A: We have to calculate the future value of $500 paid every quarter for 25 years. Interest is 6%…

Q: today

A: Formula to calculate FV of annuity: If payment done at the beginning of the year: FV =…

Q: Suppose Mrs. Aquino would like to save Php 400 at the end of each month, for six months in a fund…

A: In the given question Php 400 will be deposited at the end of each month for 6 months. The amount…

Q: Jordan's investment manager offers her an interest rate of 8.0% compounded monthly on her…

A: Earlier Interest rate is 8% Compounded monthly Interest rate changed to  is 8% compounded annually…

Q: Our clients saved $2,500,000 for retirement.  They wish to withdraw $20,000 from the fund each month…

A: An annuity is a contract where periodic payments are made in the future in return for a lump-sum…

Q: If Luis Jimenez makes annual deposits of $1,000 into a savings account for 30 years, how much will…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

Q: Jane decides to make 5 end-of-year deposits of $10,000 into a fund starting one year from now. 6)…

A: Calculate the amount at the end of 5 years as below: Resultant Table: Hence, amount at the end of…

Q: Kym plans to deposit $100 in an account at the end of each month for the next five years so that she…

A: The monthly payment is $100 for the next five years at 6% compounded monthly. Future value of an…

Q: You deposit $13,000 annually into a life insurance fund for the next 10 years, after which time you…

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

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: Ginny has already accumulated $15,000 in her RRSP. If she contributes $2,000 at the end of every six…

A: Annuity refers to series of equalized payments that are made at end or start of specific interval…

Q: ones can deposit $5,000 at the end of each 6-month period for the next 12 years and earn interest at…

A: a) Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where, P =Periodic payment i.e. $5000 n = no.…

Q: Yarianny wants to withdraw $25,000 annually starting today for the next 20 years and will increase…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: If Trey opens an account with $7,500 and plans on depositing $1,500 every year-end, how much will he…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: Eleanor makes year-end deposits of P500.00 the first year, P550.00 the second year, P605.00 the…

A: Computation:

Q: Becky would like to be a millionaire in 20 years. How much would she need to invest quarterly in a…

A: Here, Required Amount is $1,000,000 Time Period (n) is 20 years Interest Rate (r) is 9% Compounding…

Q: Buhle wants to save R330 284,00 within the next four years. She makes equal monthly deposits at the…

A: given, future value = R330 284,00 r=12.5% m=12 (monthly compounding) n = 4 years

Q: How much money should Abigail invest today into a fund that earns interest at 3.75% compounded…

A: Since interest rate is compounded quaterly and payment of annuity is made semi annually, we need to…

Q: Whitney deposited $200,000 into a savings account that has an annual interest rate of 8% compunded…

A: Interest is an extra amount which is received or paid on deposited or borrowed amount for the…

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

A: Investment amount = RM 1,000 Annual interest rate = 16% Semi annual interest rate = 16%/2 = 8%…

Q: An investor needs to collect $2,000 in 18 months. If she can earn 6% at the bank, compounded…

A: Present Value = Future Value / (1+r)^n Where, r = rate per period i.e. 6%/4 =1.50% n = no. of period…

Q: kaye's housing loan worth 810,000 for 5 years was approved by the bank with an interest rate of 8%…

A: A loan refers to the amount of money taken by an individual from the lender by the borrower in case…

Q: An engineer who is saving for her retirement plans to deposit $500 every semiannually, starting…

A: Semi Annual Deposit = 500 End of period deposits Nominal Rate = 12℅ Quarterly Compounding N = 25…

Q: Mr. Handsome would like to accumulate $1 million in his pension fund. If the annual interest rate is…

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

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: Adriana Grandioso has made beginning-of-year deposits into an investment account for the past 21…

A: FV is the future worth of cash flows that have occurred in the past or present.

Q: You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a…

A: Time Period = 7 years Future Value Required = 80,000 End of period deposits Interest Rate = 11%…

Q: Ted Houser wishes to accumulate a fund of $40,000 for the purchase of a house and lot. He plans to…

A: The computations as follows: While considering the table of future value of annuity, it can be…

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: Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest.…

A: How much must he invest today if the first withdrawal is at year-end? The present value of ordinary…

Q: You are saving up for a down payment on a house. You will deposit P600 a month for the next 24…

A: Future value means the value at some future point of time. The future value can be calculated of an…

Q: Sidney makes 10 annual deposits of 5,500 each into an investment account. The interest rate is 6%…

A: Investments are the ways through which money is saved in various financial instruments and accounts…

Q: Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an…

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

Q: Sally Medavoy will invest $8,000 a year for 20 years in a fund that will earn 6% annual interest. If…

A: Annual investment = $8,000 Interest rate = 6% Number of years = 20 Future value of annuity when…

Q: Craig is saving for a $3500 sound system. He plans to deposit $175 at the end of every 3 months into…

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

Q: A young couple wants to have a college fund that will pay $35,000 at the end of each half-year for 8…

A: Here, Required Amount in every six months for 8 years is $35,000 Interest Rate is 6% Time Period for…

Q: Tandang Sora has deposited P33,000 today in an account which will earn 10 percent annually. She…

A: Given information: Present value : P33,000 Rate of interest : 10% Time period : 7 years Future…

Q: Assuming that a $45,000 shop loan is financed at 12% over 4 years, what is the monthly shop payment?…

A: 2.  Loan amount = $45000      Interest -12%      Period = 4 years Amount (A) = P* [i *…

Q: Alicia's investment manager offers her an interest rate of 8.0% compounded monthly on her…

A: Annual deposit in case of monthly compounding:- Interest rate                            =    8%…

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.