My cousin , Hershey , is a newlywed public school teacher who plans for the education of her future children . Initially , at the beginning of each month , 10 000.00 Php was deposited for 8 years in a bank in Orani . At the end of the month , the investment collects 9% of annual interest and is compounded monthly . After the last deposit , how much is in the account ?

Q: When you were born, your family started to deposit 1,000 USD each month in the bank. The bank offers…

A: Amount deposited each month in the bank = 1,000 USD  Annual deposited amount (PV) = 1,000 USD × 12…

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A: Amount left can be calculated using the formula of the future value.

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Q: Now, assume that Emma’s savings institution modifies the terms of her account and agrees to pay 9%…

A: Formula: Future value = Present value of bank balance x [ ( 1 + interest rate )compounding years ]

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A: The question is based on the concept of future value calculation . The first part  use concept of…

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Q: how much money will have accumulated at the end of the 10-year period

A: Future Value of Annuity: It is the future worth of a series of cashflows/payments compounded over a…

Q: Suppose a recent college graduate's first job allows her to deposit $250 at the end of each month in…

A: Ordinary Annuity According to given information woman deposits the amount at the end of each month…

Q: You will be in graduate school for the next two years. You borrowed some money from the bank for…

A: Monthly Payment  $   950.00 Monthly payment increase by 2% Time period  5 Beginning of payment…

Q: What principal must be deposited by the parents when their child is born in order to have

A: The time value of money implies that the cash in hand at present has a higher value than the cash…

Q: Ms. Pan Aram has set the goal of accumulating Php 4,000,000 for her son's college fund, which will…

A: Here, Future value of deposited amount = Php 4,000,000 Number of years = 18 years Interest rate = 8%…

Q: Can you please help me work this problem out in detail?   Carol is depositing $250 into an account…

A: The amount deposited every six months is $250. The total number of deposits in 5 years would be 10.…

Q: When you were born, your parents started to deposit monthly $2,000 in the bank. The bank offers a…

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

Q: A group of employees decided to invest a portion of their 13th-month pay. After 3 months from today,…

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A: given, FV = $7000 N =4 R=5% M=12

Q: Suppose a recent college graduate's first job allows her to deposit $250 at the end of each month in…

A: We have a question that involves the application of time value of money concept, sequentially. We…

Q: You need Php 80,000 per year for four years to go to college. Your father invested Php 100,000 in a…

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Q: Jenny  is  planning  to  deposit  ₱17,000.00 Quezon  Metropolitan  Bank  is  offering 7.5%…

A: Compound interest is also called as interest on the amount of interest. In other words this is the…

Q: A student plans to deposit P 2,000 in the bank now and another P 5, 000 each year for the next two…

A: Future value of a present value is the value of that amount after taking into account the time value…

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A: Calculation of Amount of Deposits and Amount of Deposits after first and last withdrawal: The amount…

Q: What principal must be deposited

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A: Future value is the value of the current assets or some amount that is invested today and amount…

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A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

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A: The amount of deposit can be find out by using the formula of present value of ordinary annuity.

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Q: A student plans to deposit $1,500 in the bank now and another $3,000 for the next 2 years. If he or…

A: Deposit now = $ 1500 Deposit after 2 years = $ 3000 Withdraw after 5 years = $ 5000 Future value…

Q: my cousin hershey is a newly public school teacher who plans for education of her future children.…

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Q: A young couple wants to have a college fund that will pay $40,000 at the end of each half-year for 8…

A: Time value of money refers that, a sum of money today has more value than the same amount received…

Q: Suppose a recent college graduate's first job allows her to deposit $250 at the end of each month in…

A: Money in the account after 28 years is future value of monthly deposits

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A: Present Value:  The present value is the present sum of a series of fixed payments. The series of…