A father deposits P1,000 every three months for 5 years in a bank that pays 12% compounded quarterly. Assuming that no withdrawals are made , how much would be in his account at the end of five years?
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- You want to be able to withdraw $25,000 from your account each year for 20 years after you retire. You expect to retire in 15 years. If your account earns 5% interest, how much will you need to deposit each year until retirement to achie your retirement goals? SCompare the interest eamed by 514 000 tor seven years at 7% simple interest with interest earmed by the samre amount for seven years at 7% compounded annualy. Why dons a difference oca? Cick the lcon to vien the irterest and annuity table for disorete compounding when i 7% per ymar. The simple interest earred in Round to the nearest dollar The compound irterest nomed is Mound to the nearnst dollar) There a ofference in the amount of interest eamed because comggund nterest atows internst trom previca years to eam addional interest, whereassmple intereat only considers the ongina principal compound erest aimpla interestcan you help me with this qustion Gina deposits her inheritance into an account earning interest of 4% compounded annually. She will notwithdraw the money until the balance has doubled. How long will Gina have to leave the money in theaccount
- . How long it take money to quadruple if it earns 3% compounded daily 16636 days 16637 days 16867 days 16868 daysDetermine the present value of an increasing perpetuity-due with annual payments starting at 100 and increasing by 50 each year until the payment reaches 500 and remain at 500 thereafter. The annual effective interest rate in 5%. Please use annuity formulas! Only typed answer give fast and don't use chat gptEnrico Suarez has decided to purchase a house instead of renting anapartment. He can a ord a monthly payment of $800, and he has saved $6,000 to use as a down-payment on a house. If the mortgage is 4% nominal interest (compounded monthly) on a 30-yearloan, how much can Enrico a ord to spend on a house?
- Find the future velues of the followng ordinary ennuties a. V of s600 paid each 6 morths for 5 years at a nominal rote of 12% compounded semiannualy. Do not round intermediate calculations. Round your answer to the hearest cent. b. Vof s300 paid eadh 3 mortha for 5 years at a nominal rate of 12% compounded quarterly. Do not round intermediate calculations. Round your answer to the nearest ant. E These annuties receive the same amount of cash during the Syear periad and earn interest at the same nominal rate, yet the annuity in part b ends up larger than the one in parta Why does this ecurtEngr. Aisa has a 15 year-term plan. He is planning to make a P 10,000 deposit 2 years fromnow, P 8,000 in 6 years and P15,000 in the 11th year. Money is worth 11% a. . Determine the Future Worth of her savings after 11 years. b. Determine the present worth of her savings.Jimmy deposits $ 3,400 now, $ 2,900 3 years from now, and $ 6,000 6 years from now. Interest is 6 % for the first 3 years and 4 % for the last 3 years. a. How much money will be in the fund at the end of 6 years?
- ANSWER WITH HANDWRITTE SOLUTION Assume a person retires today with $1540428 in his account. Assume the interest rate is 4.7% compounded monthly. The person plans to withdraw the same amount at the beginning of each month for the next 20 years until all of the money is gone. How much will the person withdraw each month? Do not Round off interest rate. With cash flow diagram. Round your answer to 2 decimal places.. If you plan to invest EOY 2 $4000, then what would this be equivalent to EOY 4 years? Assume i = 6%y Comuniously! 3-54 A friend was left $50,000 by his uncle. He has decided to put it into a savings account for the next year or so. He finds there are varying inter- est rates at savings institutions: 23/8% compounded annually, 21/4% compounded quarterly, and 21/8% compounded continuously. He wishes to select the savings institution that will give him the highest return on his money. What interest rate should he select?