If Mike deposited and withdrew as shown below, how much can he withdraw at the end of 5th year? Assume i=4%. If it is a deposit, then enter
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- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Suppose I want to be able to withdraw $5,000 at the end of five years and withdraw $6,000 at the end of six years, leaving a zero balance in the account after the last withdrawal. If I can earn 5% on my balances, how much must I deposit today to satisfy my withdrawal needs? A. $8,394.92 B. $9,141.37 C. $8,402.55 D. $8,724.74 E. $7,568.94Jean deposited P2,000, P2,500 and P3,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Use one of the following formulas. Show complete solution.
- Mr. Angel deposited 125,000 in Coconut Bank. After 2 years, he withdrew 13,600. After another 2 years, he again withdrew 9,500. If he wishes to withdraw all his savings after 5 years from the time of his deposit, what amount will he receive if the interest rate is 9% compounded quarterly?1- If I want to withdraw $5000 at the end of 5 years and again $6000 at the end of6 years, leaving zero balance after my 6th year withdrawal. If my funds carn 5% today, how much should I deposit today to meet my future withdrawals?A guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.09 per annum. Determine the future worth of the deposit?
- How much money was withdrawn from Mr. Cruz’s account on the 5th year, after investing P25, 000 on a bank that offers 12% interest, if he has P50, 000 after 30 years?Derek currently has S12, 511.00 in an account that pays 6.00%. He will withdraw S5, 050.00 every other year beginning next year until he has taken 8.00 withdrawals. He will deposit $12511.0 every other year beginning two years from today until he has made 8.0 deposits. How much will be in the account 23.00 years from today?Derek currently has $12, 511.00 in an account that pays 6.00%. He will withdraw $5, 050.00 every other year beginning next year until he has taken 8.00 withdrawals. He will deposit $12511.0 every other year beginning two years from today until he has made 8.0 deposits. How much will be in the account 23.00 years from today?Lee Holmes deposited $17,300 in a new savings account at 12% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $42,300 at 12% interest compounded semiannually. At the end of 6 years, what is the balance in Lee’s account? (Do not round intermediate calculations. Round your answer to the nearest cent.) I keep doing exactly what i am supposed to and it keeps telling me I am wrong. The answer I have gotten is 94,812.61
- Your aunt has $270,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000 at the beginning of each year, beginning immediately. She also wants to have $50,000 left to give you when she ceases to withdraw funds from the account. For how many years can she make the $45,000 withdrawals and still have $50,000 left in the end? a. 8.30 b. 7.98 c. 8.94 d. 8.06 e. 9.19Jean deposited P1,000, P1,500 and P2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Note: Interest is already shown in decimal form. Do not round in between solution. Final answer round to the nearest WHOLE NUMBEROn Juan’s 26th birthday, he deposited $9,000 in a retirement account. Each year thereafter, he deposited $1,000 more than the previous year. Using a gradient series factor, determine how much was in the account immediately after his 35th deposit if: a)the account earned annual compound interest of 3.7% b)the account earned annual compound interest of 4.7% PLEASE show step by step to understand whats going on, in the simplest way of explaining.
