Today is 1/7/2021, John plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be deposited today. John predicts that the return rate of this fund will be j2=3.59% from 1/7/2021 to 30/9/2021 and j2=3.93% from 1/10/2021 to 31/12/2021. What will be balance amount of this account on 31/12/2021? Round your answer to three decimal places. Question Answer a. 3034.806 b. 3032.925 c. 3033.446 d. 3033.714
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Today is 1/7/2021, John plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be deposited today. John predicts that the return rate of this fund will be j2=3.59% from 1/7/2021 to 30/9/2021 and j2=3.93% from 1/10/2021 to 31/12/2021. What will be balance amount of this account on 31/12/2021? Round your answer to three decimal places. Question Answer a. 3034.806 b. 3032.925 c. 3033.446 d. 3033.714
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- If 90,000 is invested in a fund on December 31, 2019, and 5 equal annual withdrawals of 23,138.32 are made starting on December 31, 2020, that will deplete the fund, what is the interest rate being earned if interest is compounded annually?Today is 1/7/2021, John plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be deposited today. John predicts that the return rate of this fund will be j2=2.23% from 1/7/2021 to 30/9/2021 and j2=4.3% from 1/10/2021 to 31/12/2021. What will be balance amount of this account on 31/12/2021? Round your answer to three decimal places. a. 3032.601 b. 3033.695 c. 3032.335 d. 3031.814Today is 1/7/2021, John plans to deposit $500 at the beginning of each month into an investment fund. The first deposit will be deposited today. John predicts that the return rate of this fund will be j 2 = 3.2% from 1/7/2021 to 30/9/2021 and j2 = 4.83% from 1/10/2021 to 31/12/2021. What will be balance amount of this account on 31/12/2021? Round your answer to three decimal places.Question 11 Answer a. 3037.527 b. 3038.404 с. 3038.048 d. 3039.408
- Anne wants to accumulate $25,000 by December 31, 2019. To accumulate that sum, she will make twelve equal quarterly deposits of $1,616.66 at the end of March, June, September, and December, beginning on March 31, 2016, into a fund that earns interest compounded quarterly. What annual rate of interest must the fund provide to yield the desired sum? 4.5% 26% 6.5% 18%4) Ashley deposits $500 into an investment fund each January 1 starting in 2005 and continuing to 2014 inclusive. If the fund has an average annual growth rate of ji = 10%, how much will be in her account on January 1, 2019?John Goodheart wishes to provide for 6 annual withdrawals of $3,000 each beginning January 1, 2029. He wishes to make 10 annual deposits beginning January 1, 2019, with the last deposit to be made on January 1, 2028. Required: If the fund earns interest compounded annually at 10%, how much is each of the 10 deposits?
- Baxter desires to purchase an annuity on January 1, 2023, that yields him five annual cash flows of $11,000 each, with the first cash flow to be received on January 1, 2026. The interest rate is 10% compounded annually. The cost (present value) of the annuity on January 1, 2023, is ________. (Use spreadsheet software or a financial calculator to calculate your answer. Round intermediary calculations two decimal places and round your final answer to the nearest dollar.) Group of answer choices $55,000 $28,481 $45,869 $34,462The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31, 2030. Weimer will make annual deposits of $100,000 into a special bank account at the end of each of 10 years beginning December 31, 2021. Assuming that the bank account pays 7% interest compounded annually, what will be the fund balance after the last payment is made on December 31, 2030?You decided to take a study abroad for the Spring 2023 semester. You decided to save $200 each month from July 2022 to December 2022 (6 months). You can deposit the funds in a bank account at the beginning of each month. The fund is expected to earn 7% per year. Under these conditions, how much will you have at the end of December 2022?
- David wants to accumulate at least $40,000 by depositing $1,000 at the end of each month into a fund that earns interest at 5.75% compounded monthly. a. How many deposits does he need to make in order to reach his goal? Round to the next payment b. How long will it take David to reach his goal? year(s) month(s) Express the answer in years and months, rounded to the next payment periodCindy Medavoy will invest $6,740 a year for 23 years in a fund that will earn 5% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 23 years? If the first payment occurs at year-end, what amount will be in the fund in 23 years? First payment today First payment at year-endSam Hart decides to invest $70,000 in a fund that will earn 6% annual interest, compounded semiannually. How much will his investment be worth in three years? Draw a timeline to illustrate the problem. What is the future value of your investment? (Use the present value and future value tables, a financial calculator, a spreadsheet or the formula method for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.)