You currently have $2,100 (present value) in an account that has an interest rate of 4% per year compounded semi-annually (2 times per year) You want to withdraw all your money when it reaches $3,150 (future value)  In how many years will you ba able to withdraw all your money?

Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…

A: Each month $100 is to be put into an account earning 8% interest compounded monthly. Periodic…

Q: You plan to put some money into an account so that for the next 4 years you can withdraw $912 from…

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

Q: You deposit $150 in your savings account every quarter for retirement and start with 0 in the bank.…

A: Quarterly Deposit = 150 Quarterly Compounding Initial Balance in Account = 0 Interest Rate = 5%/4 =…

Q: you want to be able to withdraw $30000 each year for 25 years. your account earns 8% interest. How…

A: Given, Amount able to withdraw = $30,000 each year Time period = 25 years Interest rate = 8%

Q: You currently have $7,800 (Present Value) in an account that has an interest rate of 7.5% per year…

A: given, Present value = $7800 future value = $19500 rate = 7.5% the rate is continously compounded.…

Q: You deposit $23,000.00 in an account that pays 4% compounded annually and immediately start making…

A: In this question future value would also be find out so that payment per year can be find out.

Q: You want to be able to withdraw $5800 each year for 10 years. Your account earns 3% compound…

A: An annuity is the plan that gives a fixed amount in return for a lump sum. It is usually made with…

Q: Suppose you invest $190 a month for 6 years into an account earning 8% compounded monthly. After 6…

A: The following formula will be used:

Q: You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3…

A: Solution- Given that P=$4900 r=11.3% n=15 years Future value of Annuity- =P * [ (1+r)^n -1] /r

Q: You want to be able to withdraw $8500 from an account at the end of each 6-month period (that is,…

A: Given that;Periodic withdrawal amount is $8500Interest rate is 2.9% per year

Q: How much do you have to deposit today so that beginning 11 years from now you can withdraw ​$15,000…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much…

A: a) Hence, amount of $149,035.94 have in account in 30 years.

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: You want to be able to withdraw $1,000 from a savings account at the end of year 1, with withdrawals…

A: The present value of a growing annuity is the current value of an annuity which is growing at a…

Q: You want to be able to withdraw $50,000 each year for 20 years. Your account earns 8% interest. a)…

A: a) Hence, the amount in the account at the beginning is $490,907.37 b) Hence, the total money pull…

Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…

A: Annual deposit is $2,300.Total number of deposits is 5.Annual return is 2%.The below expression can…

Q: |You have $5,000 in your savings account that pays 4% interest. How much will you have in your…

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

Q: You are going to withdraw OMR5,000 at the end of each year for the next four years from an account…

A: Calculate the present value by using excel as follows: Present value is 16,198.60…

Q: You would like to have $500,000 when you retire in 30 years. How much should you invest each quarter…

A: The future value of any deposits is the sum total of all the deposits made compounded at interest…

Q: account with an interest rate of 7.5% per year compounded monthly. You want to withdraw all your…

A: interest rate =7.5% monthly interest =7.5/12=0.625 Future value =Present value (1+i)n

Q: You invest $5,000 into a money market account that pays interest monthly (e.g., interest is…

A: Future Value = Present Value * (1+r)^n Where, n = no. of compounding period i.e. 3 years * 12 = 36 r…

Q: You want to be able to withdraw from a savings account $800 at the end of year 1, $900 at the end of…

A: present value formula: present value =future value1+ratetime

Q: You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3…

A: Future Value: The worth of a asset today at a future date based on an expected rate of growth is…

Q: Having trouble, please help! You would like to have $1,000,000 when you retire in 35 years. How…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: You would like to have $550,000 when you retire in 40 years. How much should you invest each quarter…

A: Required Amount at retirement is $550,000 Time period is 40 years Interest rate is 6.4% Compounded…

Q: You deposit $78000 into an account that pays 5% compounded quarterly. You leave the money in the…

A: Computation:

Q: You want to be able to withdraw $20,000 each year for 30 years. Your account earns 5% interest. How…

A: Given, Amount withdrawn each year (P) = $20,000 Rate of interest (i) = 5%  or  0.05 Number of years…

Q: interest

A: Formula to calculate the annual deposit A(F/A, i, n)(F/P, i, n)

Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…

A: The formula to calculate future value of annuity is given below,

Q: You plan to deposit $5,600 at the end of each of the next 20 years into an account paying 10.8…

A: making periodic payments is called annuity, thus we will be finding future value of annuity. We can…

Q: Goldberg planned to build a P1,500,000-house after 2 years. How much should be deposited in a…

A: Amount To be deposited now is Present value = Future Value/(1 + Interest rate)n Where , Interest…

Q: You want to be able to withdraw $50,000 each year for 30 years. Your account earns 5% interest.…

A: This the question of present value of ANNUITY. Annuity is a equal stream of cashflow at equal…

Q: If you open a savings account that earns 6.5%simple interest per year, what is the minimum number of…

A: If savings are invested in a bank for the purpose of earning some return then the account opened in…

Q: If you invest $1,000 in an account that pays an annual interest rate of 6.4%, compounded monthly,…

A: Computation:

Q: You deposit $300 each month into an account earning 8% interest compounded monthly. a) How much will…

A: a) Money in account in 30 years: Solved using Financial Calculator  PMT = -300 N = 12 * 30 = 360 I/Y…

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 decide to save $9300 by making annual deposits for 5 years into an account that pays 7%…

A: Given:   Amount to be saved  9300 Number of annual deposits 5 Time of withdrawal in years 7…

Q: You deposit $300 each month into an account earning 3% interest compounded monthly. a) How much will…

A: Monthly deposit (P) = $300 Interest rate = 3% Monthly interest rate (r) = 3%/12 = 0.25% Period = 15…

Q: If you deposit $300 now into a savings account and increase your deposits by 10% each month. How…

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

Q: You currently have $900 (Present Value) in an account that has an interest rate of 4.5% per year…

A: Future value is the accumulated amount of a deposit along with the interest earned on it. The amount…

Q: Suppose you invest $120 a month for 5 years into an account earning 8% compounded monthly. After 5…

A: The future value is an estimation of value received in future on the basis of periodic cash deposits…

Q: You have $400,000.00 saved for retirement. Your account earns 5% interest compounded annually. How…

A: Given Information: Saved $400,0000 for retirement Interest Rate 5% Compounded Annually Duration 15…

Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much…

A: Annuity amount = $100 Monthly rate of interest = 0.6667% (8.00% / 12) Number of months = 300 months…

Q: Suppose I have the choice of investing $25000 in two different accounts:   Acct 1:  4.5%…

A: Future value is the value of present cashflow compounded to future date at specified rate. formula:…

Q: If you open a savings account that earns 6.5% simple interest per year, what is the minimum num-ber…

A: Simple interest is the type of interest that is earned on the original amount invested and not…