A bank account pays 4 percent interest per year. If you deposit $1,000 into this account at the start of each year for three years, how much will your account balance be at the end of three years? Multiple Choice   $3,122   $3,246   $3,600   $4,206

Q: With total yearly payments of $10,000 for 10 years, compare the compound amount accumu- lated at the…

A: A typical annuity consists of a number of equal payments spread out over time. Payments are supposed…

Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Compounding interest means the interest is calculated for the principal and after each period the…

Q: Two payments of $13,000 and $6,600 are due in 1 year and 2 years, respectively. Calculate the two…

A: Given; Payment due in year 1= $13000Payment due in year 2= $6600Interest rate= 5.5%Interest rate in…

Q: You have selected an account that yields 3.85% compounded monthly to invest the $4,051,948 that you…

A: The effective annual interest rate (EAR), also called the annual percentage yield, means the true…

Q: In one instance, a financial institution loaned you $60,000 for two years at an APR of 5.75% for…

A: First instance: Given , Principal = $60000 APR = 5.75% Time period = 2 years Thus, simple interest =…

Q: An industrial juicer costs $55,000. It will be used for five years and then sold to a remarketer for…

A: Computation of the net yearly savings required to justify the purchase: To compute the net yearly…

Q: Anthony and Michelle Constantino just got married and received $24,000 in cash gifts for their…

A: Amount recieved by Couple = $24,000i = 10%t = 25 years

Q: An annuity offers to pay £8,200 per year for 20 years, and the nominal annual bank interest rate is…

A: Given: The amount of annuity = £8,200 per year Years = 20 The rate of interest is = 6% compounded…

Q: You are quoted an interest rate of 6% on an investment of $1000. What is the value of your…

A: Here, it is given that an investment of $1,000 gives 6% annual interest rate that is compounded…

Q: With total yearly payments of $10,000 for 10 years, compare the compound amount accumu- lated at the…

A: The present worth of the cash flow series will be giving the present value of the cash flow series…

Q: Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is…

A: By using the formula;A=P1+r100n Where, A= Future value P= Present value r= Rate of interest n= Time…

Q: A loan of $50,000 at 8 percent compounded annually is to be paid off in 25 years by uniform annual…

A: Given: Loan amount (P)=$50000 Interest rate (r)=8% Time period (n)=25 years Payments on schedule…

Q: The banks in your area offer the following rates of interest on their savings accoun want to open…

A: as a rational consumer he wants to get maximum return so he always try to choose those banks where…

Q: Problem 4 fan investment of $8,000 is made today, what annual compound interest rate would be…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other…

Q: find the present value of $175 perpetuity if the interest rate is 6 percent  compounded quarterly.…

A:

Q: Here are two ways of investing ​$50,000 for 20 years.       ​ Lump-Sum Deposit      Rate      Time…

A: Amount to invest  $50,000 Time period = 20 years Lump-Sum Deposit Rate Time ​$50,000 5​%…

Q: What is the amount of interest earned on $5,000 for eight years at 10% simple interest per year?

A: Since, you have asked more than one question, we will be answering the first one for you. If you…

Q: A bank will lend $ 10,000 to a landlord. The debt must be repaid in 24 months in monthly…

A: A loan is a monetary arrangement between two groups, a bank and a borrower. Under this…

Q: Suppose you owe $1,100 on your credit card. The annual percentage rate (APR) is 18%, compounded…

A: Cash flow:The sum of the total money is represented in the diagram. It represents the magnitude and…

Q: SHOW COMPLETE AND ORGANIZE SOLUTION. If you are to invest your money, which is a better option: 12%…

A: Let principal = 10,000 Time period = 10 years Amount = P(1+r)N Case 1 - 12% compounded monthly A =…

Q: Today you borrow $10,000 to pay for your expected college costs over the next four years, including…

A: A cash flow is a physical or digital currency motion. It is a transaction, particularly through one…

Q: Consider a 30,000 dollars investment which has an annual interest rate of 10%. What is the value at…

A: In the mentioned question, we are given the investment and annual interest rate. With the given…

Q: have selected an account that yields 4.87% compounded every tl 4,125,000 that you have saved while…

A: *Answer:  Nominal interest rate = 4.87% Interest rate per quarter = 4.87%/4 = 1.2175% Effective…

Q: You have just purchased 200 shares of General Electric stock at $15 per share. You will sell the…

A: Given that,   No. of shares purchased: 200 Cost of each share: 15 Ratio to be increased per year, 8…

Q: You plan to retire in 30 years and plan to contribute the same amount of money each year to your…

A: The annual withdrawal in the post-retirement period is $100,000. This continues for 20 years and…

Q: Seema is looking at an investment to upgrade an inspection line at her plant. The initial cost would…

A: Given Initial cost (P) = $160,000 Salvage value (F)=$39,000 n=5 years  r =14%

Q: On January 1, 2005, a person’s savings account was worth $200,000. Every month thereafter, this…

A: Part 2: Explanation:Step 1: Calculate the Future Value (FV) using the formula for compound…

Q: Appledale Dairy is considering upgrading an old ice-cream maker. Extensive upgrading costs $11650…

A: The present worth of a cash flow refers to its value at present worth based on its expected value in…

Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Compound interest formula is A = P (1 + i)n

Q: What is the future value of $8600 a year for 32 years at 8.1 percent interest, compounded annually?

A: Given information, Present value (PV): $8600 Time period (n): 32 years Interest rate (r): 8.1%…

Q: Accumulate a $40,000 principal for 15 years under the rate (.05, m 4). What compound interest is…

A: Given information: Principal amount (P): $40,000 Time period (t)= 15 years Interest rate (r): 5%…

Q: You deposit $100 now, and another $100 at the end of 20 years. The account earns a nominal discount…

A: The formula of future value is F=P1+in Here i is the interest rate per period and n is the number of…

Q: A bank features a savings account that has an annual percentage rate of r = daily. Anna deposits…

A: The total of the future investment returns discounted at a specific level of rate of return…

Q: Kelsey purchases a retirement annuity that will pay her $1,500 at the end of every six months for…

A: In retirement, an annuity is a kind of assured income that the individual is presented with as a…

Q: ow much did you deposit at the end of each month in an IRA that pays 7% compounded monthly to earn…

A: In this question, we have to calculate the monthly deposit (A) for 30 years.  Rate of interest =7%…

Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Future value (FV) = present value x F/P(i%, N) = present value x (1 + i)N

Q: On July 1 and September 1, you placed $2,000 into an account paying 3% compounded monthly.…

A: Given: Amount placed on July 1 and September 1=$2000 Compounded monthly rate=3% To find: Amount as…

Q: Find the present value of a $50,000 annuity payable each three months for ten  years but deferred…

A: Given that, Payment at the end of period (R) = $50,000 Periodic rate (i) = 0.12/3 = 0.04 as there…