You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in the account in 15 years?

Q: You deposit $5000 in an account earning 2% interest compounded monthly. How much will you have in…

A: Deposit (P) = $ 5000 Interest rate = 2% Monthly interest rate (r) = 2%/12 = 0.166666666666667%…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…

A: Given information Future Value = $6000 Time Period =10 years *12= 120 periods(As periods are…

Q: If you deposit $250 each month into an individual retirment account that earns 4.8% interest…

A:

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 15…

A: Using excel PV function

Q: You deposit $400 each month into an account earning 6% interest compounded monthly. How much will…

A: FV of annuity=P1+rn-1rwhere,P=Periodic paymentr=rate per periodn=number of periods

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: The future value of the annuity is the total value of all the payments which is occurred regularly…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 10…

A: Here, Future Value is $2,000 Compound Period is Monthly Interest Rate is 7% Therefore, Monthly…

Q: You want to have $50,000 in your savings account 12 years from now, and you’re prepared to make…

A: The annuity refers to the regular payment or receipt that lasts over a period of time. The annuity…

Q: You deposit $500 in an account earning 7% interest compounded annually. How much will you have in…

A: We can use the concept of time value of money. As per this concept when finding the present value of…

Q: If you wish to accumulate $140,000 in 13 years, how much must you deposit today in an account that…

A: The provided information are: Future value (FV) = $ 140000 Time period (n) = 13 years Interest rate…

Q: You deposit $200 each month into an account earning 3% interest compounded monthly. a) How much…

A: Monthly Deposit = 200 Monthly Compounding Time Period (n) = 240 months Interest Rate (r) = 3%/12 =…

Q: You deposit $2000 each year into an account earning 3% interest compounded annually. How much will…

A: A deposit annually  is rewarded by an interest  annually that make a huge amount at the end of…

Q: How much must I deposit into an account every month to have $1,500,000 in 15 years at a rate of 7%…

A: A recurring deposit is a special type of term deposit offered by banks which help people with…

Q: How much would you need to deposit in an account now in order to have $6,000 in the account in 8…

A: In order to solve this question one has to solve for the present value to know how much to save into…

Q: You deposit $500 each month into an account earning 5% interest compounded monthly. a) How much…

A: The future value is the value of amount in future that has to paid or received at current or in…

Q: The bank is paying 9% interest compounded quarterly. If you deposit P5,000 at the beginning of each…

A: Interest rate (r) = 9% per annum = 2.25% per quarter Quarterly deposit (Q) = P 5000 n = 10 years =…

Q: You deposit $4700 in an account earning 3% interest compounded continuously. How much will you have…

A: Future Value Future value refers to the value of the investment at a certain point in time in the…

Q: You initially deposit $3,000 in to a savings account for 5 years, paying 6% compounded annually.…

A: We will first establish the timelines  We deposit $3,000 for 5 years at an interest of 6%. t0 is…

Q: You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: Interest rate = 5% Present value = $4,000 Period = 10 years

Q: If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be…

A: Future value of a lumpsum deposited today can be calculated using the future value…

Q: You deposit $5000 at the beginning of each year into an account earning 3% interest compounded…

A: Introduction: Annuity Due: It refers to the series or stream of equal payments made at the beginning…

Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…

A: When a principal amount grows with interest over a time period, it is known as the future value.…

Q: You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much…

A: Amount Deposited Each month is $100 Interest rate is 4% Compounded monthly Time period is 15 years…

Q: You deposit $5000 each year into an account earning 6.8% interest. How much will you have in the…

A: Given: Yearly deposit = $5000 Interest = 6.8% annually Time =15 years

Q: You deposit $1000 each year into an account earning 4% interest compounded annually. How much will…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: If you invest $2,538.00 in an account earning an annual interest rate of 3.153% compounded…

A: Interest is the fee paid to investor for investing funds over a period of time. It is the…

Q: You have set a goal to save ​$ 10000 in a savings account that earns interest at​ 2.54% compounded…

A: Annuity due are the payments which are made at the beginning of the period.

Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…

A: Monthly deposit (P) = $ 100 Interest rate = 8% Monthly interest rate (r) = 8%/12 =…

Q: You deposit $3500 in an account earning 2% interest compounded quarterly. How much will you have in…

A: Deposit amount (P) = $3500 Interest rate = 2% Quarterly interest rate (r) = 2%/4 = 0.50% Period = 18…

Q: You deposit $300 each month into an account earning 8% interest compounded monthly. a) How much will…

A: a) Money in account in 30 years: Solved using Financial Calculator  PMT = -300 N = 12 * 30 = 360 I/Y…

Q: You deposit $6000 in an account earning 7% interest compounded monthly. How much will you have in 15…

A: Time has been precious in all perspectives, however in terms of finance, time has a monetary value.…

Q: You deposit $6000 in an account earnings 7% interest compounded monthly. How much you will you have…

A: future value formula: future value = present value×1+RMM×N where, R=rate M=frequency

Q: If you deposit 10000 in a bank account that pays 10% interest annually, how much will be in your…

A: The amount in the account after 5 years is future value of the deposited amount. Future value can be…

Q: You deposit $6000 in an account earning 4% interest compounded monthly. How much will you have in…

A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per period i.e. 4%/12 =0.333%n =…

Q: Suppose you want to have $800,000.00 for retirement in 30 years. You plan to make regular monthly…

A: Monthly deposit It is the minimum value a person will deposit in an account every month. It is the…

Q: You deposit $300 each month into an account earning 3% interest compounded monthly. a) How much will…

A: Monthly deposit (P) = $300 Interest rate = 3% Monthly interest rate (r) = 3%/12 = 0.25% Period = 15…

Q: Suppose you deposit $20,000 in an account today that pays 4% interest, compounded annually. How long…

A: Here, 20,000 is deposited today and future value is $80,000. Want to calculate how many years it…

Q: You deposit $4000 in an account earning 7% interest compounded continuously. How much will you have…

A: Future Value = Present Value * e^(rt) Where, r =rate of interest i.e. 7% t = time i.e. 15

Q: You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in…

A: FV is the future worth of cash flow that have occurred in the past or present.

Q: You want to have 75000 in your savings account 12 years from now, and you’re prepared to make equal…

A: Given information: Amount at the end (Future value) 75000 Time Period (in years) 12 Interest…

Q: Gary has decided to save RM150 a month for 4 years. How much will be the balance in the account if…

A: In compound interest money grow with time as there is interest on the interest.

Q: If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your…

A: In the given question we require to compute the future value from following details: Present value =…

Q: You have decided to put $130 in a savings account at the end of each month. The savings account…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: Assume that you keep RM5,555 in the savings account at Affin Bank with an interest of 15 percent per…

A: Saved amount = RM 5,555 Annual interest rate = 15% Period = 5 Years

Q: If you borrowed S 15,000 to be repaid in 20 equal quarterly payments and after your 10th payment you…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: You deposit $5000 each year into an account earning 3% interest compounded annually how much will…

A: Amount we will have is future value of yearly payments  future value is calculated using fv function…

Q: If you have $50,000 in an interest-bearing savings account that pays2 percent annual interest, how…

A: Present value = 50000 Interest rate = 2% Days = 30  Assume 365 days in Year

Q: You deposit $4000 in an account earning 2% interest compounded daily. How much will you have in the…

A: Given, Deposit amount = $4000 Interest rate = 2% Compounding = Daily

Q: You deposit $6000 in an account earning 6% interest compounded monthly. How much will you have in…

A: Computation as follows: