Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If the accumulated account balance is withdrawn 4 years after the last deposit, how much money will be withdrawn? Click the icon to view the interest and annuity table for discrete compounding when i = 5% per year. The amount withdrawn 4 years after the last deposit is $ (Round to the nearest cent.)
Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If the accumulated account balance is withdrawn 4 years after the last deposit, how much money will be withdrawn? Click the icon to view the interest and annuity table for discrete compounding when i = 5% per year. The amount withdrawn 4 years after the last deposit is $ (Round to the nearest cent.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 24P
Related questions
Question
Transcribed Image Text:ZI23 +506 89
N
1
4
7
10
Single Payment
Compound
Amount Present
Factor Worth Factor
To Find F
Given P
FIP
1.0500
1.1025
1.1576
1.2155
1.2763
Discrete Compounding; /= 5%
1.3401
1.4071
1.4775
1.5513
1.6289
To Find P
Given F
PIF
0.9524
0.9070
0.8638
0.8227
0.7835
0.7462
0.7107
0.6768
0.6446
0.6139
Compound
Amount
Factor
To Find F
Given A
FIA
1.0000
2.0500
3.1525
4.3101
5.5256
6.8019
8.1420
9.5491
11.0266
12.5779
Uniform Series
Present
Worth Factor
To Find P
Given A
PIA
0.9524
1.8594
2.7232
3.5460
4.3295
5.0757
5.7864
6.4632
7.1078
7.7217
Sinking
Fund
Factor
To Find A
Given F
AIF
1.0000
0.4878
0.3172
0.2320
0.1810
0.1470
0.1228
0.1047
0.0907
0.0795
Capital
Recovery
Factor
To Find A
Given P
A/P
1.0500
0.5378
0.3672
0.2820
0.2310
0.1970
0.1728
0.1547
0.1407
0.1295
Transcribed Image Text:Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If the
accumulated account balance is withdrawn 4 years after the last deposit, how much money will be withdrawn?
Click the icon to view the interest and annuity table for discrete compounding when i = 5% per year.
The amount withdrawn 4 years after the last deposit is $
(Round to the nearest cent.)
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