A person deposits $2000 every year into an account which has an interest rate of 2.5% annually. If this person made their first deposit on August 1, 2000 and plans to make their last on August 1, 2029. How much will be in the account on August 1, 2030?

Q: If you deposit OMR 12200 in your account in a bank. If your bank pays 8.15% interest, how much will…

A: The value of a current asset at a future date based on an expected rate of growth is known as future…

Q: Suppose today is January 1, 2024 and you are given two options: a. an annuity that pays you 1000…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: A person just invested $475 in a security that pays $85 per year for eleven years; the first payment…

A: Annuity is the number of payments which are equal in size and made in equal interval of time. Person…

Q: You deposit $10,000 in a retirement account today at 5.8% interest with annual compounding. How much…

A: Future value = Present Value×[1+Periodic interest rate]^n Where,  n = number of periods = 28…

Q: Assume you deposit $5,700 at the end of each year into an account paying 11. interest. a. How much…

A: Yearly Deposit are of $5,700 Interest rate is 11% Time period is 19 years for Part(A) and 38 Years…

Q: Lester hopes to earn $1100 in interest in 2.2 years time from $22,000 that he has available to…

A: We need to use future value formula to calculate annual interest rateFV = PV(1+r)nwhereFV = Future…

Q: In 2023, how much earnings does an individual need to receive four Social Security credits in one…

A: Social Security -This system provides monthly income toretirees,the disabled, andsurvivors.Social…

Q: If you deposit OMR 20930 in your account in a bank. Suppose the bank pays 8% compound interest half…

A: When interest is compounded multiple times in a year: Future value = Present value *(1+r/m)n*m  r is…

Q: If you make quarterly deposits of $415.00 into an ordinary annuity earning an annual interest rate…

A: Future value of an annuity depends on the regular payments and interest rate applicable on the…

Q: A worker saves for retirement from year 2035 to year 2056, starting with $10,000 in 2035 and…

A: Annuity is the amount that can be withdrawn from amount saved over period of time for retirement.

Q: Tom hopes to earn $600 in Interest in 4.3 years time from $60,000 that he has available to invest.…

A: INTRODUCTION: An interest rate is a proportion of a loan's principle that is paid for the usage of…

Q: If the bank compounds interest annually, how much will you have in your account on January 01, 2021?

A: It has been given in the question that the interest which a bank credits into the account has been…

Q: You have $67,046.95 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: You currently have $250,000 in your retirement account. What equal annual amount must you deposit…

A: Equal annual deposits into an account for a fixed number of times is called annuity. The future…

Q: You deposited $1000 in the bank today.  What will be in your account in 25 years assuming an…

A: Given Information: Present Value (PV) = $1000 number of period (n) = 25years. Interest Rate = 6%

Q: You deposit $10,000 into a savings account today and leave the money in the account for the next 12…

A: Future value is the value of an annuity at a future date being compounded for a period of time at an…

Q: A person agreed with a bank to deposit an amount of 500 dinars at the end of each year starting from…

A: The compound value of money can be depicted as the amount of interest generated on interest earned…

Q: Assume that today is January 1, 2022, and that you just turned 25 years old. You plan to retire when…

A: Amount of required in the retirement account as on the date of retirement is the present value of…

Q: Suppose a child's parents decide to make annual deposits to a savings account, making the first…

A: The present value of the cash flow is the current worth of a cash flow at a certain rate of interest…

Q: You will need to deposit $_______ each quarter.

A: Future Value of Annuity: It is computed by compounding the present stream of annuity cash flows…

Q: Suppose you deposit $2000 in an individual retirement account ( IRN) that pays interest at 6%…

A: Deposit amount on starting = $2000 Compounded monthly rate = 6% for first two years Compounded…

Q: André is looking ahead to his retirement. He wants to have $580,000 in his savings account when he…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: If you have only P750 on July 10, 2023, what interest rate, compounded annually for 3 years,  must…

A: Present Value refers to the value of cash flows today which is to be received at some future time…

Q: If you deposit $700 every year for the next 5 years, with first deposit to be made today and all…

A: Amount deposit per year = $700 Time period = 5 Years Interest Rate = 3.76%

Q: sume you have just found out you are entitle lling to take today in exchange for the future:

A: Answer : Future value = Present value * (1 + rate) ^Time Rate = 18% Time = 19 years

Q: andré is looking ahead to his retirement. He wants to have $580,000 in his savings account when he…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: PLEASE ANSWER IT ASAP FOR AN UPVOTE. I REALLY NEED IT NOW. 2. Jake deposits 1200 pesos at the end of…

A: Future value of annuity is the future value of all the stream of cash flows.

Q: At retirement age in 2021, an individual has an average yearly indexed income of $40,000. How much…

A: PIA: A PIA (Primary Insurance Amount) is the monetary benefit (rounded up to the next $1) that is…

Q: You have a bank account that pays an annual interest rate of 6.9%. If you deposit $5,000 today and…

A: In the realm of financial foresight, the question at hand revolves around the future value of…

Q: PLEASE HELP ASAPThe client has made a deposit in the bank in the amount of 10,000$. The duration of…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: You have $51, 854.38 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The time value of money is a concept in finance that takes into account the effects of compounding…

Q: Let’s say that you are saving up for retirement and decide to deposit $3,000 each year for the next…

A: The objective of this question is to calculate the difference in the final amount of savings when…

Q: Suppose you deposit $1098 into an account 5 years from today that earns 11%. It will be worth $1774…

A: Data given: PV= $ 1098 FV= $ 1774 r=11% n=?

Q: Suppose that you are to make annual deposit of $3,000 into a retirement account that pays 11%…

A: Future value of the amount is the worth of the current amount in some future specified date at given…

Q: If you deposit $500 at the end of each year for the next 5 years in a bank where it will earn 6%…

A: The amount that a present investment will gain in value over time when kept in a compound interest…

Q: You would like to have $78,000 in 12 years. To accumulate this amount, you plan to deposit an equal…

A:

Q: If you deposit $287.50 into an interest-bearing savings account today, what rate of interest must be…

A: Deposit amount = $287.5Amount after 14 years = $650.01A = P ( 1+r)nP = principal   = $287.5r = rate…