The Carrolls have $100,000 in a bank. If they get 5% compounded monthly and withdraw $5000 at the end of each month, how many withdrawals can they make? What will be the size of the concluding withdrawal if it is made one month after the last full withdrawal?

Q: You want to be able to withdraw $4000 from an account at the end of each 6-month period (that is,…

A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

Q: You go to the loan fund of the company where you work and find that they have an emergency fund…

A: Given, that the payments in month 3,6,9,12 is double than the normal payments in other months.…

Q: You wish to save $30,000 by making $1000 deposits at the end of each month. If the bank pays 4%…

A: Dear student, we need to use NPER and FV formulas in excel to solved this problem.

Q: suppose that you would like to save $20,000 over 5 years to use as a down payment for a house by…

A: Computation of monthly deposit:Hence, the monthly deposit into the account is $301.66 per month.

Q: First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City…

A: given, first bank simple interest=6%second bank compound interest =6%p=$7500n=10 years

Q: suppose you want to be able to withdraw $4,800 at the end of each month for the next 20 years. How…

A: The present value of the annuity factor is used when there is an equal series of cash flows and the…

Q: Your father now has $1,000,000 invested in an account that pays 9.00%. He expects inflation to…

A: Inflation is the rate by which the purchasing power of a currency falls over time. The present value…

Q: Imagine you have $200 today and you think to save your money in a bank for 2 years. The Bank A says…

A: Interest rate is the rate which an investor may earn on the deposits in the banks or the investment…

Q: You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end…

A: Given: PV = Present value = $42,180.53 PMT = Annual payment = $5,000 Future value value = $250,000…

Q: . Suppose you have a bank account into which you make $100 deposits each month. You find a bank…

A: Periodic Payment = $100 Future Value = $2,000 Time Period = 15 Months

Q: The Carrolls have $100,000 in a bank. If they get 5% compounded monthly and withdraw $5000 at the…

A: Given Data: Amount in Bank = $100,000 Interest Rate = 5% Monthly withdrawal: $5000

Q: How much will your investment be worth in 17 years at each bank?

A: Time value of money (TVM) means that the amount received in the present will have more value than…

Q: a) How much is in the account after the last deposit is made? (b) How much was deposited (c) What…

A: In order to find the following questions, one needs to use excel and apple functions like PMT, FV…

Q: Suppose you invest $140 a month for 3 years into an account earning 8% compounded monthly. After 3…

A: Future value of ordinary annuity(cash flow due at the end of year) can be calculated by using this…

Q: Suppose you are getting a loan from a bank to purchase a feed business. The interest rate on the…

A: APR(Annual percentage rate) refers to annual cost paid by the borrower for the loan taken which…

Q: You can earn .51 percent per month at your bank. If you deposit $3,400, how long must you wait until…

A: The number of months can be calculated with the help of future value function

Q: It is now January 1, 2018. You plan to make 5 deposits of $200 each, one every 6 months, with the…

A: Future value is the expected value of an investment at a future date at given rate of return. given:…

Q: You want to buy a house that costs $60,000. You took a $60,000 mortgage loan at an annual rate of…

A: Note: As per our guidelines, we can only answer one question at once. Since, you haven't…

Q: Hamilton wants to accumulate ₺ 24.000 at the end of 4 years. It starts quarterly payments in a bank…

A: Amount at the end of 4 years = 24000 Years = 4 Terms(n) = 4 *4 = 16 quarterly deposits Rate (r) = 6%…

Q: cial position, and you can pay off the loan in 240 equal monthly payments. Answer the following…

A: A loan is a type of debt that an individual or other entity incurs. The lender, who is typically a…

Q: You think you will be able to deposit $4,000 at the end of each of the next three years in a bank…

A: Annuity  An annuity is the series of payments which is received or paid for a certain period of…

Q: You currently have $4,000 in a bank account that pays an annual rate of 1%, compounded monthly.  You…

A: Dear student, we need to use NPER formula to calculate number of periods(N) in excel.

Q: You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a…

A: Time Period = 7 years Future Value Required = 80,000 End of period deposits Interest Rate = 11%…

Q: Seeb Metals Inc. just decided to save OMR 1,395 a month for the next 5 years as a safety net for…

A: Monthly savings=1,395 Number of years=5 Compound interest=7% compounded monthly…

Q: A young executive deposits $400 at the end of each month for 4 years into an account that earns 6%…

A: Formulas:

Q: You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until…

A: Computation of No. of months taken for deposit of $3,000 grown into $6,000 on an interest of 0.47%…

Q: Suppose you get paid every two weeks. You determine that you can afford to divert $80 from each…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: The Weidmans want to save $45,000 in 4 years for a down payment on a house. If they make monthly…

A: Computation:

Q: You have €42,180.53 in a brokerage account, and you plan to deposit an additional €5,000 at the end…

A: Working note:

Q: client at ZBX Fin Planning currently has $95,000 in their retirement account that is expected to…

A: Future value of money increases with increase in time and more deposit being made and more interest…

Q: An ambitious saver plans to deposit $1,000 in a bank account starting 1 quarter from now and wants…

A: Future value : Future value is the value of a current asset at a future date based on a projected…

Q: How much will you have to save each year (to the nearest dollar)?

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: n the coming three years, you will need Php 200,000. What amount will you deposit in a bank at…

A: solution Given for first question Future value needed 200000 Present value ?…

Q: what is the size of the payments

A: Compound interest is the amount of interest earned over the interest. Under this method the…

Q: The Weidmans want to save $25,000 in 4 years for a down payment on a house. If they make monthly…

A: FORMULA FOR MONTHLY PAYMENT: PMT = P×rm1-1+rm-m×n p = principal r= rate of interest m = frequency of…

Q: You deposit $27,000.00 in an account that pays 4% compounded annually and immediately start making…

A: Given:

Q: Your firm sells for cash only, but it is thinking ofoffering credit, allowing customers 90 days to…

A: Given information: Nominal interest rate is 9% Number of days in a year is 360 Credit period is 90…

Q: Jun has decided to save money roughly P25 per week. Suppose he makes weekly deposits of this money…

A: Compounding is also termed as an interest on interest which means that a company calculates interest…

Q: You have $9,259.70 in a brokerage account, and you plan to deposit an additional $5,000 at the end…

A: Given: Rate = 13% PMT = -6000 Present value = -$9,259.70 Future value = $260,000

Q: 2) You wish to save $150,000 for a new car. You are going to make $5000 deposits at the end of each…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You have $34,256.85 in a brokerage account, and you plan to deposit an additional $5,000 at the end…

A: Using NPER function in excel, this can be ascertained and the following inputs are used for…

Q: Suppose you invest $140 a month for 3 years into an account earning 8% compounded monthly. After 3…

A: The future value is the future worth of the amount that will be paid or received at future.

Q: You have $33,556.25 in a brokerage account, and you plan to deposit an additional $5,000 at the end…

A: given, FV = $220000 r= 12% time line

Q: You want to be able to withdraw $45,000 each year for 25 years. Your account earns 10% interest. a)…

A: Annual withdraw each year(P) = $45,000 Interest Rate(r) =10% Years(n) = 25

Q: I want to accumulate %500,000 in a savings account in 20 years. If the bank pays 6% compounded…

A: For above question, we have to calculate principle amount or present value of amount to be invested…