Q: How many years will it take for $136,000 to grow to be $468,000 if it is invested in an account with…
A: Number of years refers to the time period for which the investment is paid. Sometimes, the period of…
Q: If an investment of $5,000 is made in an account returning 2% p.a. then how long will it take for…
A: Using excel NPER function
Q: How much money should be invested in an account that earns 9% interest, compounded quarterly, in…
A: Given data; interest rate = 9% future value = $ 5000 number of years = 5 compounding frequency = 4
Q: If $3500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly,…
A: Future value of annuity is: = P * ([1 + I]^N - 1 )/I, where P is annuity amount. I is equal to the…
Q: If $4,000 is invested at 7% compounded annually. How long will it take for it to grow to $6,000,…
A: To solve the question, we need to use the concept of time value of money. According to the concept…
Q: $4000 is invested for a period of 5 years at a rate of 8%, compounded every 2 months. What will be…
A: Future Value The future value is the amount that will be received at the end of a certain period.…
Q: How long would it take $1,000 to double if it were invested in a bank that pays 6% per year?
A: Data given is as follows: Investment (Present Value) = $1000 Investment (Future value) = $1000 * 2 =…
Q: If $19,000 is invested at 3% compounded monthly, what is the amount after 4 years?
A: FUTURE VALUE is the value of current cashflow at the future date compounded at the specified rate.…
Q: How much (in dollars) is needed in an account that earns 10.8% compounded monthly to withdraw $1,000…
A: The formula used as follows: Present value=A1-11+rnr
Q: If $600 is invested in an account earning 2.75% compounded continuously, how much would be in the…
A: A concept that implies the future worth of the money is lower than its current value due to several…
Q: If you invest $1700 in an account paying 7% compounded continuously, how much money will be in the…
A: Amount Invested = $1700 Interest Rate = 7% Interest Rate per week(r) = 7%/52 Number of weeks (n)= 65…
Q: How much time does it take for a $4,900 investment to grow to $8,100 in an account compounded…
A: FV = PV* (1 + r / n)nt Where, PV = Present value FV = Future value r = Rate of interest (percentage…
Q: If you make monthly $500 deposits into your investment account paying 9.58% interest annually, how…
A: Interest is an amount which is received on the deposited amount for the period. It increases the…
Q: If you invest $7,500 in an account paying 8.35% compounded continuously, how much will be in the…
A: In the simple interest, we calculate the interest amount which we will receive after the specific…
Q: How long would it take an amount of $4,000 invested at an interest rate of 21 % per year,…
A: Given information: Present value is $4,000 Future value is $16,000 Interest rate is 21%
Q: How much do you need to invest in an account earning an annual interest rate of 3.493% compounded…
A: The present value of an investment refers to the sum amount of money that will be required today in…
Q: How long would it take you to double your money in an investment if it earns 5.75% compounded…
A:
Q: If $3000 is invested at 6% annual simple interest, how much should be invested at 9% annual simple…
A: Given Information: Interest Rate(R1)=6% Principal Amount(P1) = $3,000 Time Period in both option(T1…
Q: What annual rate of return is earned on a $5,000 investment when it grows to $9,000 in five years?…
A: We need to use the concept of time value of money to solve the question. According to the concept of…
Q: You can earn .51 percent per month at your bank. If you deposit $3,400, how long must you wait until…
A: The number of months can be calculated with the help of future value function
Q: How long will it take $4,000 to grow to $23,000 if it’s invested at 7% compounded monthly ?
A: Given information : Initial investment (P) = $4,000 Future amount to be received (A) = $23,000…
Q: hat capital must be invested to have $
A: Time value of money (TVM) means the amount of money received in the present period will have more…
Q: If you deposited $35000 and the bank is paying 4% interest compounded every 4 months, how much would…
A: Future value can be referred to as the value of an underlying asset or security at a future date.…
Q: How long will it take a $8,920 loan to accumulate interest of $480 if money earns 3.05% compounded…
A: We are required to calculate the number of periods that will take $8920 to become $ 9,400. 9400 =…
Q: IF you deposit $300 each quarter into an account earning 3.2% compunded quarterly, how many years…
A: Given that;Quarterly deposit amount (pmt) is $300Future value of the amount is $15,000Interest rate…
Q: What is the annual rate of interest if P265 is earned in four months on an investment of P15, 000?
A: Interest amount = P 265 Period = 4 Months = 4/12 = 1/3 Years Investment = P 15000
Q: If you put 600 in a savings account that yields an 8% rate of interest compounded weekly, what will…
A: Saving account generally charges compound interest on its deposits. Compound interest is referred as…
Q: How much would tom’s initial balance have to be? show work and formula
A: Present Value of Future Amount = FV / (1 + r)^n Here, FV = Future Value i.e. $30000 r = Periodic…
Q: A person invests $1000 at 3% compounded monthly. When will the account have $1800 in it?
A: Time value of money means the amount of money received in the present period will be worth more…
Q: If $2500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly,…
A: Annuity is a stream of recurring cashflow at regular interval for fixed period at specific rate.…
Q: You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until…
A: Computation of No. of months taken for deposit of $3,000 grown into $6,000 on an interest of 0.47%…
Q: How long will it take an investment to grow from $1,000 to $1,500 if it earns 7.2% compounded…
A: Given: Present value = $1,000 Future value = $1,500 Interest rate = 7.2%
Q: How long will it take P1,000 to amount to P1,346 if invested at 6% compounded quarterly?*
A: Compound interest is when we invest the interest back and earn even more interest as a result.
Q: How much money should a company deposit into an account now so that they will have $50,000 in 6…
A: The present value of a cash flow is the current worth of a cash flow at a certain rate of interest…
Q: Deposits of $850 per month are made into an investment account. The interest rate is 6.5% per annum…
A: Monthly deposit (m) = $850 Monthly interest rate (r) = 0.00541666666666667 (i.e. 0.065 / 12)…
Q: How many years will it take $145,000 to grow to $645,000 if it is invested in an account with a…
A: We use NPER function in excel to calculate time taken
Q: What interest rate would be necessary for $7,950 investment to grow to $10,400 in an account…
A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…
Q: suppose that $6,300 is invested at 3.1% annual intrest rate, componded monthly. how much money will…
A: Future Value(FV) is value of current amount at future date. It is computed by compounding that…
Q: If you want to accumulate $80,000 and you have $10,000 saved now, how many years will it take if you…
A: Given:
Q: What interest will be earned if 4,000 dollars is invested for 4 years at an annual rate of 7%…
A: The interest will be the future value of the investment less the amount invested.
Q: You have $100 a month you can deposit into an account earning 3.9% APR, compounded monthly. How long…
A: Present value refers to the current valuation for a future sum. Investors determine the present…
Q: How much money should be deposited today in an account that earns 5.5% compounded monthly so that it…
A: Amount after 3 years = $12,000 Interest Rate= 5.5% per annum Interest rate monthly = 5.5/12=…
Q: In how many months will P10,000 earn a compound interest of P2,000 if money is worth 12% compounded…
A: To calculate the number of months we will use the below formula CI = [P*(1+r)n]-P Where CI -…
Q: 2. You want to make a contribution of $160 at the beginning of every quarter to an investment. Over…
A: In finance, the term annuity depicts a sequence of cash flows of a fixed amount at equal time…
Q: What is the initial amount, rounded to the nearest cent, that you would need to invest into an…
A: Present Value is the current value of all the cash flows which is to be received in the future which…
How long would it take for an investment of $3,500 to become $4,200 if it is invested in an account that earns 6% compounded monthly?
Step by step
Solved in 3 steps
- If an investment of $5,000 is made in an account returning 2% ,then how long will it take for the account to have $10,000 if: (a) Interest is compounded monthly? (12 times a year) (b) Interest is compounded continuously?Give your answers rounded to two decimal places.How long would it take $1,000 to double if it were invested in a bank that pays 6% per year?How many years would it take $50 to triple if it were invested in a bank that pays 3.8% per year?
- You make an investment into a money market account at time T=0. In year T=5, the value of the money market account will be $5,000. The money market account pays an annual interest of R=6%, and interest is compounded on a quarterly basis. What is the present value of this account?How much time does it take for a $4,900 investment to grow to $8,100 in an account compounded annually at 5%.What is the initial amount, rounded to the nearest cent, that you would need to invest into an account earning 10.5% interest compounded daily, to have $5000 in a 3 year time span?
- How much money should a company deposit into an account now so that they will have $50,000 in 6 yeats if the account earns 4% interest, compounded quarterly?If $1,000 is deposited each quarter in an account that earns 2% compounded quarterly, how many full deposits of quarters will it take to reach $11,000.00? What is the amount of the smaller concluding deposit? a) how many quarters will it take to get full deposits? b)what is the smaller concluding deposit?Suppose that $4500 is invested in an account that pays 2% annually and is left for 4 years. 1) How much will be in the account if interest is compunded quarterly? 2) How much will be in the account if interest is compouded continuously?
- Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How much do you have to deposit into the account 1 years from today ?If you invest $3500 for 6 months in an account that earns 8.25% annually, how much interest will you earn? Please understand in detailIf you want to have $875 in 36 months, how much money must you put in a savings account today? Assume that the savings account pays 16% and it is compounded quarterly. Round to the nearest $1.