How much must be deposited at the beginning of each year in an account that pays 9%, compounded annually, so that the account will contain $32,000 at the end of 8 years? (Round your answer to the nearest cent.)

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Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A: Given:

Q: What lump sum do parents need to deposit in an account earning 9%, compounded monthly, so that it…

A:

Q: 3. If interest is compounded quarterly, how much will P100,000 be at the end of one year at 12%?

A:

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A: For monthly compound interest, we know, Where,  A = Accumulated amount  P = Principal amount r =…

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Q: A business must raise $80,000 in 7 years. What should be the size of the owners' quarterly payment…

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Q: What lump sum do parents need to deposit in an account earning 11%, compounded monthly, so that it…

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A: amount must be set aside now to generate payments of $20,000 at the beginning of each year for the…

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Q: How much must be deposited at the beginning of each year in an account that pays 4%, compounded…

A: First we calculate for ends of 1st and 2nd year then find a general formula.

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Q: Andrea wishes to accumulate a retirement fund of $650,000. How much should she deposit each month…

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A: Present value is $150,000 So, R=150,000 Money is worth 6.9% compounded quarterly. Therefore,…

Q: How much must be deposited at the beginning of each year in an account that pays 9%, compounded…

A:

Q: How much must you deposit in an account that pays 8% interest, compounded monthly, to have a balance…

A:

Q: What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it…

A:

Q: Suppose an annuity will pay $19,000 at the beginning of each year for the next 3 years. How much…

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Q: What lump sum do parents need to deposit in an account earning 5%, compounded monthly, so that it…

A: The compound interest formula is

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