You deposit $1,000 in an account earning 9.3% interest compounded daily . How much will you have in the account in 15 years? Use 360 days for a year. Round your answer to the nearest penny.

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: The amount you need to deposit in an account each month in order to have $20,000 in the account in 7…

Q: ose you deposit $100,000 in an account today that pays 6% interest, comp ally. How long does it take…

A: The given problem can be solved using NPER function in excel. NPER function computes no. of years/…

Q: If you deposit $50,000 in an account that pays an annual interest rate of 10% compounded monthly,…

A: The objective of this question is to calculate the future value of an investment given the initial…

Q: How much will accumulate in an account with an initial deposit of $100, and which earns 10% interest…

A: Future value can be referred to as the value of an underlying asset or security at a future date.…

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 15…

A: Using excel PV function

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: The future value of the annuity is the total value of all the payments which is occurred regularly…

Q: You have 45,589.25 in a brokerage and you to deposit an additional 5,000 at the end of every future…

A: Time value of money concept will be applied here. Money deposited in an account grows as the amount…

Q: ou deposit $500 in an account earning 7% interest compounded annually. How much will you have in…

A: Given information: Present Value of deposited money : $500 Interest rate : 7% Time period : 10 years…

Q: Each day, you deposit $4.79 into a bank account whose annual rate is 1.6% with daily compounding.…

A: Daily deposit (P) = $4.79 Interest rate = 1.6% Daily interest rate (r) = 1.60%/365 =…

Q: You deposit $3000 in an account earning 7% interest compounded monthly. How much will you have in…

A: Data given: PV=$3000 I=7% (compounded monthly) N=15 years   Working Note#1 Computation of monthly…

Q: You deposit $700 at the end of each month into an account earning interest at an annual rate of r…

A: Future value of annuity Annuity is a series of equal payments at equal interval over a specified…

Q: How much will you have in the account in 15 years? b) How much total money will you put into the…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: Suppose that each week, you deposit $28 into a savings account whose annual rate is 1.6% with weekly…

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

Q: Your bank account pays an interest rate of 6 percent, but this interest is compounded daily (use…

A: Interest rate on account = 6% (compounded daily) Amount A = P(1 + r/n)nt Where A = amount P =…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: formula to be used = Future value=PMT(1+r/n)n*t-1)/r/n   PMT= Monthly payment R= interest rate N=…

Q: you deposit $1,000 each year into an account earning 3% interest compounded annually. How much will…

A: Time value Value received today by an individual is of more worth than receiving the exact value in…

Q: You deposit $4000 in an account earning 3% interest compounded monthly. How much will you have in…

A: The amount after 10 years will be the future value of the initial deposit.

Q: You deposit $290 each quarter into an account earning 6.8% interest compounded quarterly. a) How…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: You deposit $57000 into an account which pays 7% compounded annually. How much can you withdraw at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: ou deposit $300 in an account earning 6% interest compounded annually. How much will you have in the…

A: Amount Deposited = $300 Interest Rate(r) =6% Years(N) =10

Q: You deposit $1,000 today and want to save $100 each month beginning one month from today. Your…

A: We have to find the number of periods it will take to reach a target accumulated value, starting…

Q: You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: Interest rate = 5% Present value = $4,000 Period = 10 years

Q: You deposit $4000 each year into an account earning 2% interest compounded annually. How much will…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: You deposit $10,000 in an account earning 4% interest compounded monthly. a. How much will you have…

A: Compound Interest is the interest on a deposit or loan calculated on the initial principal and the…

Q: You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at…

A: Perpetual annual withdrawal refers to the amount of repayment for n number of years forever. This…

Q: You plan to deposit $5, 706 into a savings account paying 8% interest compounded quarterly. How much…

A: whereFV = Future value = amount at the endPV = Present value = amount deposited today = $5,706i =…

Q: You deposit $5000 each year into an account earning 6.8% interest. How much will you have in the…

A: Given: Yearly deposit = $5000 Interest = 6.8% annually Time =15 years

Q: You deposit $700 each month into an account earning 3% interest compounded monthly. a) How many…

A: Future value is the amount that existing assets are worth at a specific future date after they have…

Q: Suppose that each week, you deposit $43 into a savings account whose annual rate is 1.8% with weekly…

A: We need to use future value of annuity formula to calculate balance of account after 14 years. FV…

Q: Using a compound interest calculator, it you would deposit $100 each month into a savings account…

A: Compounding is technique by which present cash flow is converted into equivalent future amount at a…

Q: If you deposit $13,.224 annually at the end of every year in a bank account paying 8% annually. how…

A: Annual deposit (D) = $13,224 Period (n) = 5 Years Interest rate (i) = 8% (or 0.08) Amount saved at…

Q: You deposit $600 in an account earning 2% interest compounded annually. How much will you have in…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: Your bank offers a savings account that pays 2.5% interest, compounded annually. If you invest…

A: Future value refers to the value of an investment or cash flow at a specified point in the future.…