You have just deposited $5,000 into an account that promises to pay you an annual interest rate of 5.3 percent each year for the next 4 years. You will leave the money invested in the account and 10 years from today, you need to have $7,990 in the account. What annual interest rate must you earn over the last 6 years to accomplish this goal?

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 deposit $100 each month into an account earning 6% interest compounded monthly. a) How much…

A: Future value refers to the amount worth in future time which is deposited today by an investor at…

Q: If you deposited $5000 in a bank that offers 12% annual interest rate, if the bank compounds the…

A: Deposit=5000Annual interest rate=12%Number of years=5years

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 $400 each month into an account earning 6% interest compounded monthly. How much will…

A: FV of annuity=P1+rn-1rwhere,P=Periodic paymentr=rate per periodn=number of periods

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: You would like to have $600,000 when you retire in 40 years. How much should you invest each quarter…

A: Here, To Find: Part a). Amount of deposit each quarter =? Part b). Total money deposited into the…

Q: Assume that 1 year from now you plan to deposit €1,000 in a savings account that pays a rate of 8…

A: If the bank compounds interest annually, amount in the account 4 years from now will be =€1,000×FVF…

Q: You will need to deposit $_______ each quarter.

A: Future Value of Annuity: It is computed by compounding the present stream of annuity cash flows…

Q: how much money will be in the account? How much of it is interest?

A: Annuity payments are the fixed periodic payments that an investor or depositor makes into an…

Q: You want to have $2,000,000 in your savings account seven years from now, and you're prepared to…

A: Given: Future Value of investment "FV" = $2000000 Number of payments "n" = 7 Interest rate "r" =…

Q: You deposit $1,800 into a 9% account today. At the end of two years, you will deposit another…

A: Deposit now = $ 1800 Interest rate = 9% Deposit 2 years from now = $ 3000 Purchase 5 years from now…

Q: If you deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your…

A: Solution- Given-The present value of deposit is=$2,000The rate of interest is=6%Time is…

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: You deposit $200 each year in an account for 15 years and then $400 each year in the same account…

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

Q: Imagine that you deposit \$6,000$6,000 a year, starting one year from today, for four years into a…

A: We need to use future value of ordinary annuity(payment due at end of period) formula to get money…

Q: If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much…

A: PV=FV/(1+i)^n (PV= present value FV= Future value i= discount rate  n= Number of period ) FV=…

Q: You think you will be able to deposit $4,000 at the end of each of the next three years in a bank…

A: Annuity  An annuity is the series of payments which is received or paid for a certain period of…

Q: After completing your Principles of Finance course, you plan to save $6,800 per year for the next 11…

A: Saving per Year = 6800 Saving Total year =11 After Saving Number of years keep in Account = 6…

Q: You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a…

A: Time Period = 7 years Future Value Required = 80,000 End of period deposits Interest Rate = 11%…

Q: f  you  deposit  $10,000  in  a  bank  account  that  pays  10  percent  interest  annually,  how…

A: Future value = Principal*(1+r/100) ^n Where,  r = rate of interest n = no. of years

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 deposit $4000 each year into an account earning 8% interest compounded annually. How much will…

A: given  PMT = 4000 n= 20 years i=8% FV = ?

Q: You open a bank account, making a deposit of $300 now and deposit of $1000 every other year (the…

A: Amount deposit now for 10 years = 300 Amount deposited every year from & at the end of 2nd year…

Q: Assuming you will be able to deposit $6000 at the end of each of the next four years in a bank…

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

Q: You will deposit $354 each year into an investment account that earns 5% interest (as an effective…

A: The question is based on the concept future value of annuity payment for 10 years at end of period,…

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: You want to be able to withdraw $50,000 each year for 15 years. Your account earns 7% interest. a)…

A: Here, Annual Withdrawals (PMT) is $50,000 Time Duration is 15 years Interest Rate is 7%

Q: You think you will be able to deposit $4,000 at the end of each of the next three years in a bank…

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

Q: When payments are made at the end of each period, you will treat them as    .   You are planning to…

A: Introduction: An annuity is an arrangement to receive stable income after retirement, in which a…

Q: You have just deposited $12,000 into an account that promises to pay you an annual interest rate of…

A: Calculate the future value at the end of the year 8 as follows: Future value = Present…

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: In 5 years, you will start receiving monthly payments of $1000 from a trust fund that one of your…

A: Data given:: Balance = $14000 Rate = 6.60% APR (quarterly compounding) Monthly payment = $1000…

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: You have already $5,000 in your savings account today. You want to have $50,000 in your savings…

A: Data given: FV= $50,000 n= 10 years i= 5% p.a. Amount in savings account = $ 5000   Required: Amount…

Q: You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make…

A: In the given problem we need to find the Annual Deposit amount for 5 years which cumulates @9.5% to…

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: If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your…

A: In the given question we require to compute the future value from following details: Present value =…

Q: You want to be able to withdraw $40,000.00 from your account each year for 15 years after you…

A: Time Value of Money (TVM): It is based on a principle that the money in hand now has more value than…

Q: You have decided to open a savings account and put $9000 in your local bank at an interest rate of…

A: Given: Present value = $9,000 Interest rate = 0.6% Years = 8

Q: How much money will you accumulate by the end of year 10 if you deposit $3,000 each for the next ten…

A: Annuity payment (PMT)= $3,000 Time period (n)= 10 years Rate of interest (i)= 5% per year Future…

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: You are saving for your retirement. You have decided that one year from today you will deposit…

A: First payment, A = 5% x Annual salary a year later = 5% x 90,000 x (1 + 2%) = $ 4,590.00 Growth rate…

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: You deposit $63000 into an account that pays 5% compounded monthly. You leave the money in the…

A: Future value (FV): It is the worth of any current asset at any future time with respect to an…

Q: You deposit $1000 each year into an account earning 8% compound annually. A) How much will you have…

A: ordinary annuity-in which payment is end of each period. annuity due :-payment is made at beginning…

Q: You will deposit $5000 into a retirement account that earns 3% interest compounded annually. You…

A: Future value of the deposit = Future value of the single deposit i.e. $5000 + future value of the…