How much should be invested each year for 10 years to provide you with $7000 per year for the next 15 years? Assume a 4.9% interest rate. (Round your final answer to two decimal places.
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How much should be invested each year for 10 years to provide you with $7000 per year for the next 15 years? Assume a 4.9% interest rate. (Round your final answer to two decimal places.
Annuity means no. of payments which are equal in size and made at equal length of intervals. Person get accumulated amount at the maturity with interest.
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- 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?How much should be invested each year for 10 years to provide you with $8000 per year for the next 15 years? Assume a 5.4% interest rate. (Round your final answer to two decimal places.) $Approximately how many years are needed to double a $100 investment when interest rates are 5.50 percent per year? (Round your answer to 2 decimal places.)
- Suppose you are going to invest $11,000 per year for six years. The appropriate interest rate is 9 percent. What is the future value if the payments are made on the last day of the year? What if the payments are made on the first day of the year? a) $82,756.68; $90,204.78 b) $90,204.78; $82,756.68 c) $49,345.10; $53,786.16 d) $53,786.16; $49,345.10Currently, you have $30,000 that you would like to grow to $97,000 within the next 6 years. Assuming interest rate compounds annually, what annual rate of return do you have to earn? (Round your answer to the nearešt hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00)Suppose that you have $100 to invest for a period of 5 years at an interest rate of 10% per year. How much will you have accumulated at the end of this time period?
- Currently, you have $29,000 that you would like to grow to $91,500 within the next 7 years. Assuming interest rate compounds annually, what annual rate of return do you have to earn? (Round your answer to the nearest hundredth; two decimal places. Also, if your answer is an even number, enter it with two decimal places; e.g., 34.00)What equal amounts of money will have to be deposited 5, 8 and 11 years from now, if you want to have $65000 in your account 15 years from now? Use an interest rate of 11% per year. All steps pleaseWhat is the future value of $13,000 to be received at the end of each quarter over a period of 10 years assuming you earn 6% interest annually? Enter your answer as a positive number (round to the nearest dollar if necessary).
- What is the present value of $3,000 paid each year forever, assuming a discount rate of 5% and the first payment occurs one year from now? Equivalently: What amount would you have to invest today at an interest rate of 5% to generate an annual payment of $3,000 forever?If you invest $9,700 per period for the following number of periods, how much would you have received at the end? Use Appendix C. (Round "Factor" to 3 decimal places. Round the final answers to the nearest whole dollar.) a. 11 years at 9 percent Future value $ b. 16 years at 11 percent Future value $ c. 30 periods at 10 percent Future value $You deposit $100 today, $200 one year from now, and $300 three years from now. How much money will you have at the end of year three if there are different annual interest rates per period according to the following diagram?