A new roof will cost $15,000. It will be installed in 11 years. If the interest rate is 7% per year, how much must be saved each year to accumulate $15,000 after 11 years? Click the icon to view the interest and annuity table for discrete compounding when i= 7% per year. If the interest rate is 7% per year, the amount to be saved annually is $ ง (Round to the nearest dollar.)
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- Leon and Heidi decided to invest $3,000 annually for only the first seven years of their marriage. The first payment was made at age 20. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i=9% per year. Question content area bottom Part 1 The accumulated interest and principal will equal (Round to the nearest dollar.)At age 20, a person deposits $355 in a saving account paying 1% interest compounded semiannually. How much money will be in the account 70 years later,when he is 90 years old?. Would his savings tripled in that time?.Every year you deposit $2,600 into an account that earns 2% interest per year. What will be the balance of your account immediately after the 40th deposit? Click the icon to view the interest and annuity table for discrete compounding when i = 2% per year.
- A credit card company wants your business. If you accept their offer and use their card, they will deposit 1.5% of your monetary transactions into a savings account that will earn a guaranteed 6% per year. If your annual transactions total an average of $23,000, how much will you have in this savings plan after 17 years? Click the icon to view the interest and annuity table for discrete compounding when /= 6% per year. The amount you will have in this savings plan after 17 years equals $(Round to the nearest cent.)Someone deposits $3,500 in their retirement account every year. If their account pays an average of 6% interest and they make 38 deposits before they retire, how much money can this person withdraw in 20 equal payments beginning one year after their last deposit?ro coupon bond will be worth $11,000 when it matures and is redeemed after 11 years. How much would an investor be willing to pay now for this bond if a 3% per year yield is desired? Click the icon to view the interest and annuity table for discrete compounding when i= 3% per year. current worth of the bond is $ (Round to the nearest dollar.)
- You plan to deposit $300 at the end of every year for 12 years starting at the end of year 1. Then after leaving the money in the account for several years, you plan to withdraw everything 15 years from today. How much is available to withdraw at the end of year 15 if the account pays 8% interest annually?Find the present value of deferred annuity of 900 pesos every 3 months for 5 years that is deferred 3 years, if money is worth 10% compounded quarterly.Determine the value of Won the right-hand side of the accompanying diagram that makes the two cash-flow diagrams equivalent when /= 9% per year. Click the icon to view the interest and annuity table for discrete compounding when = 9% per year. The equivalent amount, "W", of the cashflows provided in the diagram is $. (Round to the nearest dollar.) 0 $1,100 $1,100 1 3 2 End of Year 4 5 $1,100 Q Q G ↑ More Info N 1 2 3 4 5 6 7 8 9 10 W 4 0 End of Year Compound Amount Factor To Find F Given P F/P 1.0900 1.1881 1.2950 1.4116 1.5386 1.6771 1.8280 1.9926 2.1719 2.3674 Single Payment Discrete Compounding; i = 9% Compound Amount Factor To Find F Given A FIA 1.0000 2.0900 3.2781 4.5731 5.9847 Present Worth Factor To Find P Given F P/F 0.9174 0.8417 0.7722 0.7084 0.6499 0.5963 0.5470 0.5019 0.4604 0.4224 Print W 7.5233 9.2004 11.0285 13.0210 15.1929 6 Q Q Uniform Series Present Sinking Fund Worth Factor Factor To Find P To Find A Given A Given F P/A A/F 0.9174 1.0000 0.4785 1.7591 0.3051 0.2187…
- A credit card company wants your business, If you accept their offer and use their card, they will deposit 1% of your monetary transactions into a savings account that will earn a guaranteed 5% per year. If your annual transactions total an average of 20,000. How much will you have in this savings plan after 15 years?Compare the interest earned by $10,000 for three years at 7% simple interest with interest earned by the same amount for three years at 7% compounded annually. Why does a difference occur? Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. The simple interest earned is $ The compound interest earned is $ (Round to the nearest dollar.) (Round to the nearest dollar.) There is a difference in the amount of interest earned because original principal. allows interest from previous years to earn additional interest, whereas only considers theThe Stafford plan now offers student loans at 4% annual interest. After two years the interest rate will increase to 7% per year. If you borrow $4,500 now and $4,500 each year thereafter for a total of four installments of $4,500 each, how much will you owe at the end of year 4? Interest is computed at the end of each year. Click the icon to view the interest and annuity table for discrete compounding when i = 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i= 7% per year. At the end of year 4 you will owe $ (Round to the nearest dollar.)