Q: You deposit $5000 in an account earning 2% interest compounded monthly. How much will you have in…
A: Deposit (P) = $ 5000 Interest rate = 2% Monthly interest rate (r) = 2%/12 = 0.166666666666667%…
Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…
A: Given information Future Value = $6000 Time Period =10 years *12= 120 periods(As periods are…
Q: If you deposit $250 each month into an individual retirment account that earns 4.8% interest…
A:
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: How much would you need to deposit in an account now in order to have $2000 in the account in 10…
A: Here, Future Value is $2,000 Compound Period is Monthly Interest Rate is 7% Therefore, Monthly…
Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…
A: Future Value is the compounding of present value at the specified rate of interest.
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 deposit $24,000.00 in an account that pays 6% compounded quarterly and immediately start making…
A: In this problem you have to find out present value FACTOR and find out quarterly deposits.
Q: You want to have $50,000 in your savings account 12 years from now, and you’re prepared to make…
A: The annuity refers to the regular payment or receipt that lasts over a period of time. The annuity…
Q: If you wish to accumulate $140,000 in 13 years, how much must you deposit today in an account that…
A: The provided information are: Future value (FV) = $ 140000 Time period (n) = 13 years Interest rate…
Q: You deposit $200 each month into an account earning 3% interest compounded monthly. a) How much…
A: Monthly Deposit = 200 Monthly Compounding Time Period (n) = 240 months Interest Rate (r) = 3%/12 =…
Q: How much must I deposit into an account every month to have $1,500,000 in 15 years at a rate of 7%…
A: A recurring deposit is a special type of term deposit offered by banks which help people with…
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: How much would you need to deposit in an account now in order to have $6,000 in the account in 8…
A: In order to solve this question one has to solve for the present value to know how much to save into…
Q: You deposit $500 each month into an account earning 5% interest compounded monthly. a) How much…
A: The future value is the value of amount in future that has to paid or received at current or in…
Q: You deposit $4700 in an account earning 3% interest compounded continuously. How much will you have…
A: Future Value Future value refers to the value of the investment at a certain point in time in the…
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: If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be…
A: Future value of a lumpsum deposited today can be calculated using the future value…
Q: You borrow $8,000 at an annual rate of 21%. If you repay the debt in three months, what do you owe?
A: In this question we require to calculate the amount we owe if we borrow $8000 and repay it in 3…
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: 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 deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…
A: When a principal amount grows with interest over a time period, it is known as the future value.…
Q: You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much…
A: Amount Deposited Each month is $100 Interest rate is 4% Compounded monthly Time period is 15 years…
Q: You have $1,500 to invest today at 7% interest compounded annually. How much will you have…
A: this future value which is what our investment is worth if invested today at given rate future…
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: If you deposit Php6500 into an account paying 8% annual interest compounded monthly, how much money…
A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…
Q: If you invest $2,538.00 in an account earning an annual interest rate of 3.153% compounded…
A: Interest is the fee paid to investor for investing funds over a period of time. It is the…
Q: You deposit $27,000.00 in an account that pays 4% compounded annually and immediately start making…
A: Given:
Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…
A: PV = FV/(1+r)^n
Q: You have set a goal to save $ 10000 in a savings account that earns interest at 2.54% compounded…
A: Annuity due are the payments which are made at the beginning of the period.
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…
A: Monthly deposit (P) = $ 100 Interest rate = 8% Monthly interest rate (r) = 8%/12 =…
Q: You plan to accumulate R450,000 over a period of 12 years by making equal annual deposits in an…
A: Annuity due is a type of annuity under which payment is deposit at starting of the each period and…
Q: You deposit $6000 in an account earning 7% interest compounded monthly. How much will you have in 15…
A: Time has been precious in all perspectives, however in terms of finance, time has a monetary value.…
Q: You deposit $6000 in an account earnings 7% interest compounded monthly. How much you will you have…
A: future value formula: future value = present value×1+RMM×N where, R=rate M=frequency
Q: You deposit $6000 in an account earning 4% interest compounded monthly. How much will you have in…
A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per period i.e. 4%/12 =0.333%n =…
Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…
A: Present Value is the today's value of a future amount at a given interest rate for a specified time…
Q: You deposit $600 each month into an account earning 4% interest compounded monthly. a) How much…
A: The future value of the account can be calculated with the help of future value of annuity function.…
Q: Suppose you want to have $800,000.00 for retirement in 30 years. You plan to make regular monthly…
A: Monthly deposit It is the minimum value a person will deposit in an account every month. It is the…
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: Suppose you deposit $20,000 in an account today that pays 4% interest, compounded annually. How long…
A: Here, 20,000 is deposited today and future value is $80,000. Want to calculate how many years it…
Q: You deposit $4000 in an account earning 7% interest compounded continuously. How much will you have…
A: Future Value = Present Value * e^(rt) Where, r =rate of interest i.e. 7% t = time i.e. 15
Q: You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in…
A: FV is the future worth of cash flow that have occurred in the past or present.
Q: You deposit $200 each month into an account earning 5% interest compounded monthly. How much will…
A: Future worth of the amount is referred as the worth of the currently deposited amount at some future…
Q: You have decided to put $130 in a savings account at the end of each month. The savings account…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: Assume that you keep RM5,555 in the savings account at Affin Bank with an interest of 15 percent per…
A: Saved amount = RM 5,555 Annual interest rate = 15% Period = 5 Years
Q: If you borrowed S 15,000 to be repaid in 20 equal quarterly payments and after your 10th payment you…
A: Present value refers to the current valuation for a future sum. Investors determine the present…
Q: You deposit $5000 each year into an account earning 3% interest compounded annually how much will…
A: Amount we will have is future value of yearly payments future value is calculated using fv function…
Q: If you have $50,000 in an interest-bearing savings account that pays2 percent annual interest, how…
A: Present value = 50000 Interest rate = 2% Days = 30 Assume 365 days in Year
Q: You deposit $4000 in an account earning 2% interest compounded daily. How much will you have in the…
A: Given, Deposit amount = $4000 Interest rate = 2% Compounding = Daily
You deposit $6000 in an account earning 6% interest compounded monthly. How much will you have in the account in 15 years?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityUse the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?
- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.
- Calculating single-payment loan amount due at maturity. Stanley Price plans to borrow 8,000 for five years. The loan will be repaid with a single payment after five years, and the interest on the loan will be computed using the simple interest method at an annual rate of 6 percent. How much will Stanley have to pay in five years? How much will he have to pay at maturity if hes required to make annual interest payments at the end of each year?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?