You deposit $1,000 in a fund at the end of each year for a 10- year period. The fund pays 5% compounded annually. How much money is available to withdraw immediately after your last deposit?
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You deposit $1,000 in a fund at the end of each year for a 10- year period. The fund pays 5% compounded annually. How much money is available to withdraw immediately after your last deposit?
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- If Luis Jimenez makes annual deposits of $1,000 into a savings account for 30 years, how much will be in the fund immediately after his last deposit if the fund pays 6% interest compounded annually?Troy Long wishes to deposit a single sum of money in a savings account so that five equal annual withdrawals of $2,000 can be made before depleting the fund. If the first withdrawal is to occur 1 year after the deposit and the fund pays interest at a rate of 5% compounded annually, how much should he deposit? suppose the first withdrawal does not occur until 3 years after the deposit. How much should be deposited?On January 1, 2021, you deposited $6,100 in a savings account. The account will earn 10 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 4 years? (Future Value of $1,Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. 2. What is the total interest for the 4 years? (Future Value of $1,Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided. 3. How much interest revenue did the fund earn in 2021 and in 2022?
- On January 1, 2018, you deposited $5,500 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 7 years? 2. What is the total interest for the 7 years? 3. How much interest revenue did the fund earn in 2018 and in 2019? Show Transcribed TextA trust fund is to be formed by depositing #4766 twice a year for 7 years in a bank that promises to pay a fixed rate over the entire term. If the amount of the fund at the end of the term is #86123, then what is the rate (in %) compounded semi-annually? Round your answer to 2 decimal places.Ted Houser wishes to accumulate a fund of $40,000 for the purchase of a house and lot. He plans to deposit $4,000 semiannually at the end of each 6 months. Assuming interest at 14% a year compounded semiannually, how many deposits of $4,000 each will be required, and what is the amount of the last deposit?
- Clearlake Optical has a $50,000 note that comes due in 6 years. The owners wish to create a sinking fund to pay this note. If the fund earns 2.5% compounded semiannually, how much must each semiannual deposit be? (Round your answer to the nearest cent.)$What should be the balance in a Registered Retirement Income Fund (RRIF) that will provide $3,000 at the beginning of each half-year for 4 years, if the RRIF earns 5.25% compounded monthly?1. Lovely Mae’s deposit of 100,000 is placed into a college fund at the beginning of every month for 10 years. The fund earns 9% annual interest, compounded monthly, and paid at the end of the month. How much is in her account right after the last deposit? Show solution.
- On January 1, 2021, you deposited $5,500 in a savings account. The account will earn 10 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 9 years? (Future Value of $1.Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) Note: Use appropriate factor(s) from the tables provided.You deposit $600 today into a fund that you intend to leave invested for 6 years. The fund earns 6% interest compounded annually. Indicate the inputs to be entered into the financial calculator keys. What is the value of the fund to be accumulated at the end of year 6? (Round future value answer to two decimal places (e.g., 52.75) and interest rate to one decimal place (e.g., 527.5).) Inputs Calculator N Keys Future value $ 6 I 6 PV 600if you deposit $500/month into a college fund with APR 4.5%, how much do you have after 18 years of payment?
