You make deposits of $300 each year for the next 17 years at 5 % compounded annually. How much is in account after the last deposit?
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You make deposits of $300 each year for the next 17 years at 5 % compounded annually. How much is in account after the last deposit?
Annual deposit (P) = $300
Interest rate (r) = 5%
Period (n) = 17 Years
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?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 annuityUse 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?
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- If you decide to deposit $480 every year for the next 6 years, with first deposit to be made one year from today and all deposits to be made at the end of each year, in an account that pays 4.62% APR with annual compounding, how much is this account worth in today's dollars?You deposit $4000 at the beginning of each year into an account earning 5% interest compounded annually. How much will you have in the account in 30 years?You plan to deposit $5, 706 into a savings account paying 8% interest compounded quarterly. How much will be in your account - assuming no withdrawals - after three years?
- You make five annual deposits of $1,800 into a savings account that pays interest at a rate of 3% per year. One year after making the last deposit, the interest changes to 4% per year. How much money will you have five years after the last deposit?Suppose you deposit $2,500 at the end of year 1, nothing at the end of year 2, $750 at the end of year 3, and $1,300 at the end of year 4. Assuming that these amounts will be compounded at an annual rate of 15 percent, how much will you have on deposit at the end of five years?Suppose you deposit $380 today, $565 in one year, and $929 in two years in an account that pays an annual rate of interest of 18.91%. How much money will be in the account after three years?
