ohn invests a sum of money in a retirement account with a fixed annual interest rate of 2.63% compounded continuously. After 15 years, the balance reaches $1,912.41. What was the amount of the initial investment?

Q: Georgi Rostov deposits $4,000 in a savings account that pays 8% interest compounded monthly. Three…

A: Future value is the value of the current amount at some future date after adjusting it with the…

Q: After receiving an inheritance of $50,000 on her 21st birthday, Katlyn deposited the inheritance in…

A: The future value of deposit is the value of the current deposits on a future date based on the…

Q: How much money will there be in the account?

A: solution A= R(1+i)n+1/i R= Contribution half year=$425 n= number of periods=48 years - 33 years =15…

Q: wishes to provide herself, or her estate, with an income of $10,000 at the end of each year for 10…

A: Deposit A Amount = 10,000 End of year deposits N = 10 years   Deposit B Amount = 10,000 End of year…

Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Maria's retirement fund has an accumulated amount of $50,000. If it has been earning interest at…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Asa has invested money from the settlement of an insurance claim. She plans to withdraw $1,920 from…

A: Fist we need to calculate present value of all withdrawals by using present value of ordinary…

Q: Elwin Tulpo invests Php1,000 in a Bank at 10% a year for five years, but when the interest is…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Twenty years ahead of her retirement, Kelly opened a savings account that earns 5% interest rate…

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

Q: How much money did he have for retirement?

A: Future Value of annuity = A= R* (1+rm)n-1rmwhereA - future valueR - periodic paymentr - nominal…

Q: On the day his son was born, a father deposited to a trust company a sufficient amount of money so…

A: We can define effective interest rate as that rate which we will receive from investing our amount…

Q: Eugene began to save for his retirement at age 26, and for 10 years he put $ 425 per month into an…

A: Here we have to use the concept of future value to determine the retirement amount.  The amount…

Q: Magnus wishes to have $1,500,00 when he retires in 44 years. What are the monthly payments he must…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where, Future value of annuity = 150000 n = 44 r…

Q: Crystal Nelson is 30 years old and she invests $3,300 in an annuity, earning a 8% compound annual…

A: PV = 0 N = 21 rate = 8% PMT = 3300 use FV function in Excel with type as 1

Q: . Your grandmother has established a trust fund that pays you $3,500 each year for 15 years. upon…

A: Given: CF=$3500t=15 yearsr=7% i.e 0.07

Q: Tom has decided to invest $400 quarterly for 4 years in an ordinary annuity a 8%. As his financial…

A: Quaterly investment amount is $400 Time period is 4 years Interest rate is 8% To Find: Cash value…

Q: How much money can he receive on his 18th birthday, if he decided to withdraw all the money at once?

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Thomas's retirement fund has an accumulated amount of $55,000. If it has been earning interest at…

A: Accumulated Value in retirement Account "FV" is $55,000 Interest rate is 2.44% Compounded monthly…

Q: To prepare for his retirement in 13 years, Tekla deposited 10,000 in an account paying 9%. Nine…

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

Q: Stephanie purchased an annuity that will provide her with payments of $1,500 every month for 4…

A: monthly rate of interest = (1 + 4.25%/2)1/6 - 1 = 0.3511%

Q: Belle decided to start a new investment account.  She deposits $1,000 into an account that earns…

A: Using excel FV function

Q: Jennifer invests $2,400 at the end of each year for 11 years in an ordinary annuity at 10% interest…

A: Periodic Payment = $2,400 Time Period = 11 Years Interest Rate = 10%

Q: Maria Alvarez is investing $300,000 in a fund that earns 4% interest compounded annually. What equal…

A: Compound interest refers to addition of interest to principal sum of loan or deposit.

Q: Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Jeremy and Bill each have $57,043 to invest in a retirement account whose annual rate is 2.9% with…

A: As the compounding is monthly the effective rate = [1+(apr/12)]^12 - 1 = [1+(2.9%/12)]^12 - 1 =…

Q: Bob has saved a total of ₱2,550,000.00 for retirement. He put the money in a mutual fund which pays…

A: We need to use annuity formula given below to calculate size of monthly withdrawal PMT…

Q: Charles wants to retire in 17 years. At that time he wants to be able to withdraw​ $22,000 at the…

A: Here, Retirement will be in 17 years Amount withdrawn is $22,000 Time duration of withdrawals is 19…

Q: Yoko invested s4000 in a fund for 2 years and was paid simple interest. The total interest that she…

A: Investment (P) = $4000 Period (T) = 2 Years Interest amount (I) = $400

Q: etirement for 20 years, a self-employed engineer deposits P6,000 every end of 3 months in a fund…

A: Given information : Time period (years) 20 Periodic deposits 6000 Payment  quarterly…

Q: At the birth of his grandson, Jethro commits to help pay his college education. He decides to make…

A: In the given question, Php 10,400 will be deposited at the end of each 3 months in an account…

Q: To prepare for his retirement in 13 years, Tekla deposited 10,000 in an account paying 9%. Nine…

A: We have certain age for retirement, and for that, we add an amount after some interval of time to be…

Q: ne began to save for his retirement at age 30, and for 13 years he put $ 250 per month into an…

A: Future value of annuity is the future value of all the stream of cash flow. Future value of annuity…

Q: On Juan’s 26th birthday, he invested $7,500 in a retirement account. Each year thereafter he…

A: Rate of interest=5%,0.05               Time=35 Number of years=10Amount=Principal1+rateyears…

Q: Ruben invested $1800 per year in an IRA each year for 8 years earning 6% compounded annually. At the…

A: The following formula will be used:

Q: When Christian bought his home, he borrowed $315,700 at 4.2% interest, compounded monthly for 25…

A: Loan amount (PV) = $315,700 Interest rate = 4.2% Monthly interest rate (r) = 4.2%/12 = 0.35% Period…

Q: Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6%…

A: We get future value of depositsUse FV function in excel Type =FV and press tab key. Type 6%,  (this…

Q: Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded…

A: The amount deposited each year = $1200 Interest Rate = 5% Compounded annually Years = 12 1st We need…

Q: Natalia makes a deposit of $2,000 into a savings account at the end of the 1st year and another one…

A: Here, Deposit in year 1 and 3 by Natalia is $2,000 Deposit in Year 2 and 4 by Manuel is $2,000…

Q: Phyllis invested 49000 dollars, a portion earning a simple interest rate of 4 percent per year and…

A: Given, Amount invested is $49000 Interest earned on both the investments is $2320

Q: An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per…

A: Deposits= $100 Interest= 3.25% per year Period= 7 years

Q: Belinda invested a sum of money for her two-year-old child education in the amount of fifty thousand…

A: Compounding is a strategy for calculating the future value (FV) of current cashflows using a…

Q: Stacey deposits $ 4500 at the end of each year for 30 years into an investment fund which pays out…

A: Reinvestment is the practice of using dividends, interest, or any other form of the income…

Q: Bob has deposited $10,000 at the end of each year into a saving account for the last 12 years. His…

A: Future value: Value of $1 today is different, value of $1 in future. $1 today is more valuable than…

Q: Peter makes a deposit at the end of every three months into a savings account that earns interest at…

A: Interest earned on savings - 3.2% quarterly Period for which it is saved - 9 years Conversion of…

Q: John invests a sum of money in a retirement account with a fixed annual interest rate of 2.63%…

A: It is given that,Annual interest rate is 2.63% compounded continuously.Number of years is…

Q: Shane contributed $2,250 at the end of every 3 months into an RRSP fund earning 2.41% compounded…

A: Here, Amount deposit after each interval = $2,250 Interest rate = 2.41% Time period = 11 years To…

Q: Allison is 31years old and plans to retire at age 65 with $920,000 in her retirement account. What…

A: The amount required to deposit today can be calculated with the help of present value function.