What will your balance be after 11 total deposits, that is, after 10 years? (Round your answer to the nearest cent; no labels please!)
Q: You plan to deposit $6,000 at the end of each of the next 25 years Into an account paying 10.3…
A: Perodic Payment(PMT) is $6,000 Per Year Interest rate is 10.3% Time Period 25 years & 50 Years…
Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…
A: Given: Future value = $50,000 Time =8 years Monthly period = 8*12 = 96 Interest = 4.5% So, monthly…
Q: How much would be in your savings account in seven years after depositing S290 today if the bank…
A: Future value is the value of current cashflow compounded at specified rate to future date. formula:…
Q: If you deposit $9,000 in a bank account that pays 10% interest annually, how much will be in your…
A: Calculate the future value as follows: Future value = Amount * (1+ rate)^ years
Q: How much would you have to deposit at the end of the year in an account that pays an interest rate…
A: Information Provided: Term = 15 years Future value = $20,000 Interest rate = 7.6% compounded monthly
Q: What will be the final balance at the end of year 23 if you make a deposit of 88,000 at the end of…
A: Future values refer to the concept of determining the future worth of current money deposits.
Q: If you deposit $5,000 in a bank account that pays 6% interest annually, how much will be in your…
A: We need to use the concept of time value of money to solve the question. According to the concept of…
Q: Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How…
A: Future vaue =52569Interest rate=6%
Q: If you deposit $8,000 in a bank account that pays 4% interest annually, how much will be in your…
A: Deposit=$8000Interest rate=4%Number of years=5
Q: How much money would you need to place in an account to have $1,000 10 years from today? Assume the…
A: The formula used as follows: Present value=Future value1+innt
Q: Your goal is to have $15,000 in your bank account by the end of eight years. If the interest rate…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: If you deposit money today in an account that pays 14% annual interest, how long will it take to…
A: Future value =Present value (1+r)n r=rate of interest =14% n=number of years
Q: Suppose you currently have $4,800 in your savings account, and your bank pays interest at a rate of…
A: Present value is the sum of money that must be invested to achieve a specific future goal. Future…
Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…
A: Annual deposit is $2,300.Total number of deposits is 5.Annual return is 2%.The below expression can…
Q: IF you deposit $300 each quarter into an account earning 3.2% compunded quarterly, how many years…
A: Given that;Quarterly deposit amount (pmt) is $300Future value of the amount is $15,000Interest rate…
Q: You want to make five yearly withdrawals from a savings account. The first withdrawal would be $2000…
A: First of all, we will find the withdrawals for each year and mark the year as t, for example, t11…
Q: Suppose you want deposit $200 each month into an account earning 3.5% APR compounded monthly. a)…
A: Annuity is a fixed periodic payment made over a period of time, leading to the accrual of a definite…
Q: How much should you deposit now into a certificate of deposit (CD) at a bank, if the CD matures 10…
A: To calculate the principal amount deposit in the bank , we have to use the following formula : A = P…
Q: You put $6,150 in the bank for 15 years at 5%. Using the Future Value of 1 Table, what factor would…
A: Future Value is known as Terminal Value. The accrued amount of FVn on principal amount after n…
Q: You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of…
A: Future value of annuity=C×1+in-1iC=Cash flow per periodi=Interest raten=Number of payments
Q: How much money (to the nearest dollar) will you need to deposit in an account now in order to have…
A: Present value is the sum of the current value of money of future cash flows. It is also known as a…
Q: Suppose $1,000 is deposited in a bank account today (time 0), followed by $1,000 deposits in years…
A: Given amount of deposit = $1,000 Rate of interest = 6%
Q: How much would be in your savings account in seven years after depositing $290 today if the bank…
A: A concept that implies the future worth of the money is lower than its current value due to several…
Q: You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3…
A: Future Value: The worth of a asset today at a future date based on an expected rate of growth is…
Q: What lump sum of money must be deposited into a bank account at the present time so that $500 per…
A: The regular or lump-sum amount that is received or paid after a specific time period rather than…
Q: You plan to deposit $500 in a bank acoount now and $300 at the end of the year f the account eams S%…
A: The conceptual formula used:
Q: If you earn 5% per year on your bank account, how long will it take an account with $110 to double…
A: The present value is the present worth of the amount that is paid or received in the future.
Q: How much would be in your savings account in 9 years after depositing $190 today if the bank pays 9…
A: Deposit amount (P) = $190 Interest rate (r) = 9% Period (n) = 9 Years
Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…
A: The formula to calculate future value of annuity is given below,
Q: You plan to deposit $5,600 at the end of each of the next 20 years into an account paying 10.8…
A: making periodic payments is called annuity, thus we will be finding future value of annuity. We can…
Q: For someone who has $100,000 to save for 20 years, would a 4% Certificate of Deposit that compounds…
A: Certificate Of Deposits A certificate of deposit (CD) is a bank or credit union product that pays a…
Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…
A: Future value is the expected value of annual deposit to be made at specified interest rate. Given:…
Q: Suppose you deposit $10 every week into an account that earns 4% interest compounded weekly. How…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: You plan to deposit $700 in a bank account now and $900 at the end of one year. If the account earns…
A: Simple interest is a method of calculating the percentage of interest paid on a sum over a defined…
Q: . You put $8,195 in the bank for 6 years at 7%. Using the Future Value of 1 Table (Time Value of…
A: Solution: Period of deposit = 6 years Interest rate = 7%
Q: If you deposit money today in an account that pays 9.5% annual interest, how long will it take to…
A: Given The rate of interest is 9.5%
Q: Suppose you plan to deposit $1000 at the end of each month into an account for eight months. If the…
A: In Simple Interest Annuity, the interest for each payment is calculated as single payment and the…
Q: If you invest $2,589.70 in an account earning an annual interest rate of 2.539% compounded monthiy,…
A: In order to achieve a goal in future, an investment can be made at present date so that when the…
Q: The balance of an interest-bearing account can be modeled by an exponential equation. For example,…
A: Account balance after x year =$10000 x (1+5%)X
Q: What is number of regular deposits ? What is final deposit one period later after last regular…
A: Formula used: Calculating principal and interest for each payment with compounded daily interest…
Q: If you deposit $3,000 in a bank account that pays 12% interest annually, how much will be in your…
A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
Q: If you deposit some money into a bank account today, to the nearest year, how long will it take to…
A: Calculation of number of years: Answer: Number of years is 4
Q: If you deposit $2000 in an account that pays 3.6% with quarterly compounding, what is the balance…
A: given, pv = $2000 r = 3.6% m =4 n= 6
Q: How much would be in your savings account in 7 years after depositing $350 today if the bank pays 10…
A: To calculate the future value we will use the below formula Future value = P*(1+r)t Where P -…
Q: The bank balance will be $
A: Time value of money (TVM) means that the amount of money received in the present times will have…
Step by step
Solved in 2 steps
- 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 $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?
- 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?Assume you deposit $5,700 at the end of each year into an account paying 11. interest. a. How much money will you have in the account in 19 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g b. How much will you have if you make deposits for 38 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g а. Future value $ 324,555.08 b. Future value $ 2,462,818.38You deposit $ 70,565 in your account today. You make another deposit at t = 1 of $ 51,167 . How much will there be in your account at the end of year 2 if the interest rate is 19 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer:
- Assume you deposit $4,400 at the end of each year into an account paying 10.5 percent interest. a. How much money will you have in the account in 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 48 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account earns7% interest per year, what will be the balance in the account right after you make the second deposit?If you deposit $12,000 in a bank account that pays 8% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent. $
- If you deposit #9989 into an account paying 3.6% annual interest compounded monthly, how much money will be in the account after 8 years? Round your answer to 2 decimal places.Assume you deposit $4,200 at the end of each year into an account paying 10 percent interest. a. How much money will you have in the account in 22 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 44 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value b. Future valueYou deposit $296 today into a bank account that earns 12% annually. How much will be in your account after 25 years? note: show your answer to the nearest dollar (round to nearest dollar).