Suppose you will save P 3,000 at the end of every three months in a bank that pays 3% compounded quarterly. How much is the amount or the future value of your savings after 18 months? A. P 18.430.98 B. P 18.340.89 C.P 18.034.89 R.P 18.000
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- 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.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.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?
- Use 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?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 annuityYou invest $8,500 in a savings account that pays interest of 4.8% compounded monthly. To the nearest cent, what is the value of your account after 19 months? A. $9,169.79 B. $9,119.79 C. $9,219.79 D. $9,999.79 E. $9,669.79
- You decide to deposit your money today in a bank account paying 6.30% interest, compounded monthly. If the value of your savings grows to $3, 800 in 10 years, how much did you deposit? Answer a. $1,826 b. $ 2,027 c. $2,193 d. $1,988 e. $1,90722. Your client deposits $5 million in a savings account that pays 5 percent per year compounded quarterly. What will be the value of this deposit after 2.5 years? A. $5.625 million. B. $5.649 million. C. $5.661 million.Your goal is to accumulate $60,000 in seven years' time. What monthly deposit must you make into a savings account to reach your goal? Interest rates are 12% p.a. compounded monthly. a. $1,059.16 b. $714.29 c. $5,947.06 d. $459.16
- A bank is offering 10% compounded quarterly. If you put $200 in an account, how much will you have at the end of one year? Select one: a. $205.10 b. $212.56 c. $209.12 d. $220.76viii. You are currently investing your money in a bank account that has a nominal annual rate of7 percent, compounded monthly. How many years will it take for you to double yourmoney?a. 8.67b. 9.15c. 9.50d. 9.93Suppose you deposited $41,000 in a bank account that pays 5.75% with daily compounding based on a 360-day year. How much would be in the account after 8 months, assuming each month has 30 days? a. $42,598.28 b. $42,571.67 c. $43,426.30 d. $42,793.66 e. $42,602.05