Answered: What is the future value of 17 deposits…

What is the future value of 17 deposits of $3,030 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the 17th period.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 8CE

See similar textbooks

Related questions

Q: What is the future value of $2,500 deposited at the end of each quarter year for 15 years earning 8%…

A: In the given question we need to compute the future value of $2500 deposited at the end of each…

Q: What is the future value of a single $5,000 deposit earning 8 percent interest, compounded monthly,…

A: Formula:

Q: Compute the future value of the following deposits made today: a. $10,000 at 6.75% compounding…

A: The future value of a certain deposit is the value of the deposit accumulated with interest. It is…

Q: Determine the future value of $10,000 under each of the following sets of assumptions:…

A: Future value: It is the value of money or asset for a specific period at a future date based on the…

Q: What is the present value of $1,150 deposited at the end of each quarter year for 12 years earning…

A: Calculation of Present Value:The present value is $38,124.16.Excel Spreadsheet:

Q: A deposit of $11903 earned interest at 8% compounded quarterly. After 3 years, the interest rate is…

A: Compound interest refers to the amount which is added to the earned interest back into the balance…

Q: What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a…

A: Number of deposits = 10 Number of withdrawals = 5 First Withdrawal = 3000 First withdrawal at end of…

Q: What is the accumulated value of periodic deposits of $60 at the beginning of every month for 17…

A: Monthly deposit (P) = $60 Period = 17 Years Number of monthly deposits (n) = 17*12= 204 Interest…

Q: What is the present worth of P500 deposited at the end of three months for 6 years interest rate is…

A: The Present value of a future deposit is the present worth of that amount. The future amount can be…

Q: What is the amount of 15 equal annual deposits that can provide five annual withdrawals? A…

A: a) Working note:

Q: What is the accumulated value of deposits of $1020.00 made at the end of every six months for three…

A: Accumulated deposits include the amount deposited and compounding interest accumulated over the…

Q: Whatis the future sum of 1,900, given that it will be held in the bank for 25 years and earn 17…

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

Q: What deposit made at the beginning of each month will accumulate to P120,000 at 8% compounded…

A: Let the monthly deposit = M Accumulated value = P 120000 Interest rate = 8% semiannually compounded…

Q: What is the future value of a lump sum of $1,335, in 17 years, assuming an interest rate of 8.8…

A: Given details are : Present value = $1335 Time period = 17 years Annual percentage rate = 8.8%…

Q: How much money would be accumulated in15years for a deposit of $15,000 made at the end-ofyear zero…

A: The formula used as follows:

Q: 1. What is the accumulated value of the Php 25 payment be made at the beginning of each of the next…

A: The same amount is being paid annually over three years; this is an annuity. To find the future…

Q: Compute the present worth at time zero of deposits of $1,000 a year for 10 years with nominal…

A: Time Period = 10 Years Interest Rate = 18.23% Periodic Payment = $1,000

Q: Find the accumulated value of P538,000 at the end of 10 ¾ years at 14% interest compounded monthly?

A: The accumulated value is equal to the principal amount plus the interest. In other words,…

Q: If you borrowed P10,000 from a bank with 18% interest per annum, what is the total amount to be paid…

A: A bank is a financial institution that provides loans and borrowings to the borrowers or the…

Q: Determine the amount after 6 years assuming P25,000 was the initial deposit and succeeding deposits…

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: At end of three years, how much is an initial deposit of $100 worth, assuming a compound annual rate…

A: FV is the worth of amount that will be paid or received in future. The formula for the computation…

Q: What is the interest earned on the principle of RM18,000 at the rate of 12% for 1 year and 4 months…

A: Principal amount (P) = RM 18,000 Interest rate = 12% Monthly interest rate (r) = 12%/12 = 1% Period…

Q: if $11,000.00 is invested at 18% annual simole interest, how long does it take to be accumulated to…

A: Investment (P) = $ 11000 Interest rate (r) = 18% Future value (F) = $ 34,760 Period = n

Q: What is the future value of 24 periodic payments of $4,660 each made at the beginning of each period…

A: Given: Particulars Amount Payment(PMT) $4,660 Periods(NPER) 24 Rate 8%

Q: what is the balance in an account at the end of 10 years if 5,000 is deposited today at the account…

A: The following formula is to be used in order to find out the balance in account A =P[1+r/n]nt…

Q: iannual, and quarterly compunding periods, (1) calculate the future value i f $10,000 is deposited…

A: Future value can be computed using FV function in excel. FV function computes interest rate for…

Q: What is the future value of $1,250 deposited at the end of each quarter year for 10 years earning 9%…

A: Given details are : Each quarter deposit = $1250 Time period = 10 years = 40 quarters Interest rate…

Q: If $1,420 is invested in an account which earns 8% interest compounded annually, which will be the…

A: Present Value (PV)= $1,420 Interest (r)= 8% compounded annually Time period (t)= 17 years Future…

Q: If the company accepted a Notes Receivable on Oct 1, X1 for $60,000 at 8%, due in one year, what is…

A: Maturity value is the total amount including the interest on the Notes Receivable till it's maturity…

Q: What is the term if the final amount is P7,321 and the principal is P2,500 at 15% compound interest…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: If, starting one year from today, 12 equal annual deposits of $2,500 are made into an account…

A: Annual deposit (P) = $ 2500 Annual interest rate (R) = 0% Number of annual deposit (N) = 12

Q: Assume the following annual payments of notes payable of Demi Company with 10% discount rate. 1st…

A: Time value of money concept says that a sum of money invested today will have more value in future…

Q: What is the accumulated value of periodic deposits of $40 at the beginning of every month for 17…

A: This is the case of an annuity due. An annuity due is that annuity where the cash flows occur at the…

Q: What is the future value of $7,200 deposited at the beginning of each year for 7 years earning 8%…

A: Calculation of Future Value:The future value is $69,383.72.Excel Spreadsheet:

Q: What is the (a) present value and (b) compound interest earned for 3 years and 9 months of P84,500…

A: Given, The future amount is P84,500 Rate is 20% Term is 3 years and 9 months

Q: If the sum of P12,035 is deposited in an account earning interest at the rate of 9% compounded…

A: In this we have to use future value formula to get the future value.

Q: Find the compound interest accumulated on BD 14500 at the end 9 years if it is invested at 4%…

A: Compound interest is the interest earned on the principal as well as on the interest earned…

Q: What is the future worth of a series of equalyear-end deposits of $5,000 for 12 years in a…

A: Annual Deposits = 5000 Time Period = 12 years Interest % = 8% End Of Year Deposits Time to…

Q: Do in excel What uniform annual amount should be deposited each year in order to accumulate…

A: solution future value $2,143.60 Number of period 8 present value 0 annual interest rate…

Q: What is the size of deposits made at the end of each period that will accumulate to $67200 after…

A: Formula: Size of deposits = P x [ 1 + R / T ] MT R = rate of interest M =Number of periods T =…

Q: Use the compound interest formula to compute the balance in the following account after the stated…

A: Compound interest is the interest you earn on interest.formula fro compound interest is=A(1+r)twhere…

Q: What is the present worth of P 2,991 and P 6,337 payments at the end of the 5 and 15 years,…

A: Payment 1 (P1) = P 2991 at the end of year 5 Payment 2 (P2) = P 6337 at the end of year 15 r = 14%

Q: What rate of interest j4 must be earned for deposits of $100 at the end of each month to accumulate…

A: Following details are given in the question: Deposit (Payment) each month = $100 Time period = 18…

Q: What is the future value of 24 periodic payments of $4,890 each made at the beginning of each period…

A: Future value: A nominal value of an asset or investment at a specific period with an assumed…

Q: If the sum of P12,000.00 is deposited in an account earning interest rate of 9% compounded…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: Solve for the compound amount and compound interest at the end of 1 year if S7,000 is invested at 4%…

A: An interest rate method in which current interest is computed by multiplying the interest rate by…

Q: What is the size of deposits made at the end of each period that will accumulate to $67 200 after…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: For ethe case shown in the following table, determine the amount of the equal, end of year deposits…

A: Future value (FV) = $ 130,00 Period (n) = 30 Annual interest (r) = 13%

Question

What is the future value of 17 deposits of $3,030 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the 17th period.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

What is the future value of 15 deposits of $2,330 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the 15th period.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The future value $
. If the sum of P12,035 is deposited in an account earning interest at the rate of 9% compounded quarterly, what will it become at the end of 8 years?
What is the size of deposits made at the end of each period that will accumulate to $67200 after eight years at 6.5% compounded semi-annually?
If $1,420 is invested in an account which earns 8% interest compounded annually, which will be the balance of the account at the end of 17 years?
What is the accumulated value of deposits of $1020.00 made at the end of every six months for three years if interest is 7.2% compounded quarterly?
What is the future value on December 31, Year 5, of a deposit of $10,000 made on January 1, Year 2, assuming interest of 16% compounded quarterly?
What is the future value of 24 periodic payments of $4,890 each made at the beginning of each period and compounded at 8%?
What is the (a) present value and (b) compound interest earned for 3 years and 9 months of P84,500 that is compounded quarterly at 20% interest?
To accumulate 103,404,000 at the end of 9n years, deposits of 45,007 are made at the end of each of the first 3n years and 34,500 at the end of each of the next 6n years. The annual effective rateof interest is i. You are given (1 + i)n = 2.0 Determine i
What is the difference between the total simple interest earned and the total monthly compound interest earned on an investment of $1546 at 3.87% annual interest for 10 years
The sum of P15, 000.00, deposited in an account earning 4% per annum compounded quarterly, will become P18, 302.85. Determine the effective rate of interest per year.
What is the amount of 15 equal annual deposits that can provide five annual withdrawals? A firstwithdrawal of $22,000 is made at the end of year16and subsequent withdrawals increase at the rate of9% per year over the previous year’s withdrawal.Determine the amounts from the following rates.(a) The interest rate is 8.4% compounded annually.(b) The interest rate is 6.3% compounded annually.