Assume that you want to have $ 2650 saved in a sinking fund in 1 year. The account pays 4.5% compounded monthly. What should be your monthly payments?
Q: Assume that you want to have $ 4100 saved in a sinking fund in 1 year. The account pays 3%…
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Q: Assume that you want to have $ 4450 saved in a sinking fund in 1 year. The account pays 2%…
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Assume that you want to have $ 2650 saved in a sinking fund in 1 year. The account pays 4.5% compounded monthly. What should be your monthly payments?
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityAssume that you want to have $ 2900 saved in a sinking fund in 1 year. The account pays 5% compounded monthly. What should be your monthly payments? Monthly Payment =Suppose your savings account pays 6% interest compounded monthly. If you deposit $18,000 forfour years, how much will you have?
- Suppose you have estimated that you will need $2,500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4% APR . What principal, or balance, will your account need to maintain in order to be able to pay you this amount each month? Round/take your answer to the nearest cent.Assume that you deposit RM700 in a savings account that pays 5% per year over 6 years. Your savings benefits from _____ as you leave the interest earnings in your account, and your interest earnings increases every year. Select one: a. compounding b. accumulating c. discounting d. aggregatingAssume that you just deposited $1000 into a savings account that earns an interest rate of3% per year. How much will you be able to withdraw each year if you make your first annual withdrawal one year from today and your final withdrawal six years from today?
- You are going to make the following contributions into a savings account: Year 1: $0 (1 year from today) Year 2: $1000 Year 3: $1000 Year 4: $2000 Year 5: $0 Year 6: $0 The account will earn 7.23% in interest per year. How much will be in the account exactly 6 years from today? To nearest $0.01Suppose you put $ 600 a month for retirement into an annuity earning 7.5% compounded monthly. If you need $ 550000 to retire, in how many years will you be able to retire?Suppose you want to save $1,000,000 for a retirement fund in 35 years. You anticipate making regular, end-of-month deposits in an annuity that pays 9% compounded monthly. How much should you deposit each month? Use this formula: How much of the $1,000,000 retirement fund comes from deposits and how much comes from interest?
- Use the savings plan formula to answer the following question:. Suppose you find a fund that offers an APR of 5%. How much should you deposit monthly to accumulate $82000 in 17 years?If you were to borrow $9,400 over five years at 0.10 compounded monthly, what would be your monthlypayment?You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at the end of year forever?You can make annual withdrawls of $
