Anthony plans to deposit $500,000 now and $10,000 every 6 months for 5 years into an account. Determine the amount in the account 2 years after the last deposit. The interest rate is 12% compounded quarterly.
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Anthony plans to deposit $500,000 now and $10,000 every 6 months for 5 years into an account. Determine the amount in the account 2 years after the last deposit. The interest rate is 12% compounded quarterly.
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?Harry plans to deposit $3,000 at the beginning of each year into a savings account earning 2.75% compounded annually. How much will be in the account after 25 years? Your Answer:Billy plans to deposit $200 into a bank account at the end of every month. The bank account has an nominal interest rate of 8% and interest is compounded monthly. How much will Billy have in the account at the end of 2 1/2 years?
- At the end of every 6 months, Tomas deposits $20,000 into a savings account, which pays an annual interest rate of 12.3% compounded semiannually. How much will the savings account have in 7 years? (Round your answer to the nearest cent.)Cena deposits a certain amount of money into his family’s savings account at the beginning of each quarter for the next 4 years. He wishes to have $100,000.00 after 4 years. The interest rate is 8% compounded quarterly. How much does he need to deposit at the beginning of each quarter? Create an amortization table.You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6. Then after leaving the money in the account for several years, you plan to withdraw everything 15 years from today. How much is available to withdraw at the end of year 15 if the account pays a nominal annual rate of 8% compounded monthly?
- 4) Bill plans to deposit $200 into a bank account at the end of every month. The bank account has a nominal interest rate of 8 percent and interest is compounded monthly. How much will Bill have in the account at the end of 2½ years (30 months)?Louis is saving for his retirement by making annual end of year deposits for 30 years into a bank account that pays interest at a nominal rate of 8% compounded quarterly. For the first 10 years the deposits are level at $5000 each year. After the 10 th year, each deposit is 3% more than the year before. A) Give an actuarial expression for the account balance after the final deposit is made ? B) What is the account balance after the final deposit is made ?A man is planning to retire in 25 years. He wishes to deposit a regular amountevery three months until he retires so that, beginning one year following hisretirement, he will receive annual payments of $50,000 for the next 10 years.How much must he deposit if the interest rate is 9% compounded quarterly?
- Starting on the day he retires, Bob wants to receive payments of $10,000 at the beginning of each quarter for 20 years. How much money should he deposit each quarter starting today if he plans to retire in 35 years and he makes his last deposit 5.25 years (i.e., 5 years and 3 months) before his retirement date? Assume that the account earns a nominal rate of 7% per year compounded quarterly for the first 35 years and then a nominal rate of 5% per year compounded quarterly thereafter. Round to 2 decimal places.Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank gives out 9% compounded quarterly, find the amount to his credit just after the last deposit?Pascal has recently opened an RRSP. He plans to deposit $ 965 at the end of every month for 20 years. The account will compound interest semi-annually at the nominal rate of 5.9 %. How much money will Pascal have in his account immediately after his last deposit? a. $ 410717.66 b. $ 410717.66 c. $ 454411.03 d. $ 436933.68 e. $ 410717.66