You are to make monthly deposits of $500 into a retirement account that pays 10.3 percent interest compounded monthly.   Required: If your first deposit will be made one month from now, how large will your retirement account be in 35 years?

Q: You can afford monthly deposit of $85 into an account that pays 6% compounded monthly. How long will…

A: Monthly Deposit(PMT) = $85 Interest Rate = 6% Interest Rate per month(rate) =  6%/12 = 0.50% Future…

Q: You are to make monthly deposits of $725 into a retirememt account that pays an APR of 10.1 percemt…

A: Future value is the expected value of current regular deposit at a future date, at a given rate of…

Q: How much should you deposit at the end of each month in an IRA that pays 6% compounded monthly to…

A: PV is the current worth of cash flows that are expected to happen in the future.

Q: If you want to have $5600 at the end of 9 years, how much money you need to deposit today into an…

A: If you want to have $5600 at the end of 9 years, the money you need to deposit today into an account…

Q: To supplement your planned retirement in exactly 42 years, you estimate that you need to accumulate…

A: The future value of an annuity is the worth of a series of recurrent payments at a future date,…

Q: You are to make monthly deposits of $625 into a retirement account that pays an APR of 11.4 percent…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: At the end of each quarter, a life insurance client deposits Ph 6,176 for 5 years. If money is worth…

A: Quarterly deposit (P) = Ph 6,176 Interest rate = 5.3% Quarterly interest rate (r) = 5.3%/4 = 1.325%…

Q: Harry Morgan plans to make 30 quarterly deposits of P200 into a savings account. The first deposit…

A: Solved using Financial Calculator  N= 30 (7.5 * 4 = 30) I/Y = 8/4 = 2 PMT = 200 CPT FV = 8113.62

Q: Suppose you have $2,100 and plan to purchase a 10-year certificate of deposit (CD) that pays 13.1%…

A: Value when the CD matures = 2100 x (1 + 0.131)^10 = $7191.93

Q: Most people prepare for retirement by depositing money into a monthly or annual savings plan. An…

A: An annuity is a stream of equivalent periodic cash flows over a specific time duration. The future…

Q: You plan to make five deposits of $1,000 each, one every 6 months, with the first paymentbeing made…

A:

Q: If you have a $15,000 car note with a $450.00 monthly payment, payable over 36 months, what interest…

A: In the given question we need to compute the interest rate from following details: Car note value =…

Q: You are planning to make monthly deposits of $450 into a retirement account that pays 10 percent…

A: The term "annuity" represents a series of equivalent periodic cash flows occurring at equal time…

Q: You are planning to make annual deposits of $3,600 into a retirement account that pays 8 percent…

A: The company will invest in another company to earn profits from the investments. The company will…

Q: compounded monthly for any deposits made in the next month. If they deposit $10,000, then how much…

A: Future value: It represents the future worth of the present sum of money. The future value is…

Q: Suppose are going to make monthly deposits into an account with an annual interest rate of [8] 2.5%…

A: For calculating the monthly deposit as ordinary annuity; the $1,000,000 amount shall be taken as the…

Q: If you deposit $620 every month for the next 9 years, with first deposit to be made today and all…

A: The given problem relates to concept of annuity. An annuity is a series of uniform cash flows over a…

Q: You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't…

A: using excel fv function

Q: You deposit $201 at the end of each quarter into an account that pays a nominal annual rate of 16%…

A: The account value at end of 15 years can be calculated with the help of future value of annuity…

Q: You invest $2,300 in a 4-year certificate of deposit (CD) that pays 3.2% interest, compounded…

A: In this question we need to compute the future value at the end of year 4.

Q: In three years, a person will begin making quarterly deposits of $45 in an account that pays 10%;…

A: Annuity refers to series of annual payment which are paid or received at start or end of specific…

Q: You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent…

A: Given:

Q: You are to make monthly deposits of $425 into a retirement account that pays an APR of 10.6 percent…

A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…

Q: Suppose that you are to make annual deposit of $3,000 into a retirement account that pays 11%…

A: Future value of the amount is the worth of the current amount in some future specified date at given…

Q: If you deposit 2500 into an account paying 11% annual interest compounded quarterly, how  long until…

A: The number of years: An initial investment grows to a certain given amount at a specified interest…

Q: You currently have a balance of $8,000 and you pay an interest rate of 12% per year on the card.…

A: Credit card  A tiny plastic card that may be used to purchase products or services without the need…

Q: You are planning to make annual deposits of $5,970 into a retirement account that pays 10 percent…

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

Q: Compute the future value of a $1500 deposit, after eight years, in an account that pays an interest…

A: Future value can be determined by compounding the present value.

Q: If you deposit $2,000 into an account at the end of each of the next 40 years, at 4.5% interest, how…

A: It can be solved using  In excel FV (rate, nper, pmt, [Pv], [type]) Rate The interest rate for the…

Q: You deposit $5000 at the beginning of each year into an account earning 3% interest compounded…

A: Introduction: Annuity Due: It refers to the series or stream of equal payments made at the beginning…

Q: Assume you deposit $5700 at the end of each year into an account paying 11.25 percent interest.…

A: Given: Deposit = $5,700 Interest rate = 11.25% Future value= ?

Q: You plan to make a series of deposits in an individual retirement account. You will deposit $1,000…

A: According to the time value of money concept, money available today has interest earnings ability.…

Q: Suppose you make 1000 pbr monthly deposits to a retirement plan that pays interest at a rate of 30%…

A: Using Excel FV function

Q: For someone who has $100,000 to save for 20 years, would a 4% Certificate of Deposit that compounds…

A: Certificate Of Deposits A certificate of deposit (CD) is a bank or credit union product that pays a…

Q: If you deposit $110 every month for the next 7 years, with first deposit to be made today and all…

A: In this we have to calculate equivalent monthly compounding rate and calculate the future value.

Q: what amount must be deposited now in order to withdraw 2,000 at the beginning of each month for 3…

A: Here, Withdrawal Amount needed (PMT) is 2,000 Time Period of Withdrawal (n) is 3 years Interest Rate…

Q: You decide to deposit $126 monthly in a 3.2% annual interest bearing account over the next 18 years.…

A: The future value of annuity is used to determine the value of a series of payments in future at a…

Q: At an interest rate of 8% per year, the amount you must deposit in your retirement account for years…

A: The principle of present value indicates that a sum of money now is worth more than the same sum of…

Q: Your bank pays 12% interest, compounded quarterly. How much should you deposit now to yield an…

A: Present value is the amount that should be deposited to the given yield at each of the three months.

Q: A retirement plan guarantees to pay to you or your estate a fixed amount for 20 years. At the time…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: You make deposits of $700 at the end of each month into an account earning i^(12) = .03 for three…

A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…

Q: You are to make monthly deposits of $675 into a retirement account that pays an APR of 10.3 percent…

A: A series of fixed payments that are paid or received at an equal time interval is term as the…

Q: how large will your retirement account be in 32 years?

A: Future Value: It is the future worth of the present annuity stream or the present sum of money. It…

Q: How much will be at the said account three years after the ast deposit? If you make six consecutive…

A: In cases where the interest is compounded semi-annually, the compounding period is considered to be…

Q: At the end of each quarter, a life insurance client deposits Ph 6,366 for 5 years. If money is worth…

A: Solution:- When an equal amount is deposited each period at end of period, it is called ordinary…

Q: You deposit $2000 in an account earning 8% interest, compounded quarterly. How much will you have in…

A: Principle P :- $2000 Time t :- 11 years Rate of interest r = 8% Compounded quaterly No. of intervals…

Q: You plan to invest $2,000 in an individual retirement arrangement (IRA) today at a stated interest…

A: Introduction: The accumulation of amount at the end of a particular period can be defined as future…