Derek currently has $11,753.00 in an account that pays 6.00%. He will withdraw $5,408.00 every other year beginning next year until he has taken 7.00 withdrawals. He will deposit $11753.0 every other year beginning two years from today until he has made 7.0 deposits. How much will be in the account 27.00 years from today? Currency: Round to: 2 decimal places.

Q: Roland just put RM1,000 in the fixed deposit and intend to leave it there for 10 years. If the bank…

A: Formula Future value = PV*(1+(i/c))n*c Where PV = Present value i.e. RM1,000 i = Interest rate i.e.…

Q: Louis is saving for his retirement by making annual end of year deposits for 30 years into a bank…

A: Future value of Annuity: It is  the total value of annuity payments  accumulated at a specific  time…

Q: Daniel deposits $20,000 into an account earning interest at 6% per year compounded quarterly. He…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Ar. Rosales deposits P75,000 at the end of each month in a bank which pays 9% compounded month ho…

A: Honor code: Since you have asked multiple questions, we will solve the first question for you. If…

Q: Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If…

A: The compound interest is calculated on the principal amount annually. It considers the present value…

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: Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank…

A: Future value of an annuity can be computed by compounding each amount by using an appropriate…

Q: Roger just deposited $12,000 into his account at Market Place Bank. The bank will pay 3.2 percent…

A: in this we have to find out simple interest and compounding interest and than find out interest on…

Q: Assume you deposit $5,400 at the end of each year into an account paying 10.5 percent interest. a.…

A: We will have to use the following formula to calculate the future value of an ordinary annuity:…

Q: Joe plans to deposit $300 at the end of each month into a bank account for a period of 3 yr, after…

A: To solve this question we have to first find the future value of monthly annuity of $ 300 after…

Q: Starting three years from today, you make equal annual deposits of $5,000 into an account which…

A: Effective annual rate is calculated using the formula: EAR=1+rmm-1=1+12%22-1=1.062-1=12.36%

Q: You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end…

A: The future value of annuity helps an investor or an individual to know the future value of their…

Q: how much would each monthly payment be? (Please round to two decimal places)

A: The Monthly installment can be calculated using the following formula  = P ×r(1+r)n÷ ((1+r)n-1)…

Q: You deposit $23,000.00 in an account that pays 4% compounded annually and immediately start making…

A: In this question future value would also be find out so that payment per year can be find out.

Q: ABC Bank pays interest at the rate of 2% compounded quarterly. How much will Ken have in the bank at…

A: Note : All the Given Options are incorrect , so we are solving the correct one for you as per the…

Q: he outstanding balance on Peter's credit card account is 3380 dollars. The bank issuing the credit…

A: Monthly payment(PMT) of a credit card amount can be calculated by using this equation PMT…

Q: Peter has RM10,000 that he can deposit in any three savings accounts for a 3-year period. Bank A…

A: answer deposit amount =RM10,000 Rate of interest = 4% period = 3 year bank A = compounding annual…

Q: You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3…

A: Solution- Given that P=$4900 r=11.3% n=15 years Future value of Annuity- =P * [ (1+r)^n -1] /r

Q: Shaun deposits $3,000 into an account that has an annual rate of 2.9% compounded continuously. How…

A: Deposited amount (PV) is $3,000. Annual rate is 2.9% compounded continuously. Period is 2 years 9…

Q: CNB, Inc. will deposit $25,000 into a money market account at the end of each year for the next…

A: The present value method is used to evaluate the different levels of investment projects. With the…

Q: Earnest T needs $900 for his next trip to Raleigh. He has $660 in cash. How long in years will it…

A: Current value (P0) = $660 Future value (FV) = $900 Quarterly interest rate (r) = 0.03325 (i.e. 0.133…

Q: You deposit $200 each year in an account for 15 years and then $400 each year in the same account…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: Roland just put RM1,000 in the fixed deposit and intend to leave it there for 10 years. If the bank…

A: Investment amount = RM 1,000 Annual interest rate = 16% Semi annual interest rate = 16%/2 = 8%…

Q: Isabelle makes deposits of $365 monthly (at the end of each month) into an account that pays 1.5%…

A: Annuity refers to series of equalized payments that are either made at start or end of specific…

Q: You place £1,000 on deposit at an annual interest rate of 10% and make regular contributions of £250…

A: Solution:- When an amount is deposited somewhere, it earns interest on it. The amount initially…

Q: Currently, Fouad Al Marri has $42,180.53 in his brokerage account at Morgan Stanley. He plans to…

A: Given information: Future value is $250,000 Present value is $42,180.53 Interest rate is 12% Annual…

Q: A man deposits ​$14,000 at the beginning of each year for 14years in an account paying 77​%…

A: The question is based on the concept of future value of annuity payment due. Future value of an…

Q: Derek currently has $13,602.00 in an account that pays 5.00%. He will withdraw $5,708.0O every other…

A: The characteristics of withdrawal vary depending on the drug being stopped. Anxiety, fatigue,…

Q: Derek will deposit $7,502.00 per year for 23.00 years into an account that earns 8.00%, The first…

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

Q: Beverly Hills started a paper route on January 1. Every three months, she deposits $800 in her bank…

A: The question is based on the concept of future value calculation . The first part  use concept of…

Q: Derek currently has $10,579.00 in an account that pays 6.00%. He will withdraw $5,474.00 every other…

A: Future value represents the future worth of existing cash flows. It is determined by compounding…

Q: c) Joana has $12,800 in her bank account today. She makes the following withdrawals: $2,200 in 2…

A: We need to use compound interest formula to solve this problem A =P(1+i)n Where A=Compound amount…

Q: A. Zoey deposits $500.00 every quarter into an account earning 5% interest compounded quarterly. How…

A: The time value of money is the concept widely used to determine the correct worth of the sum to be…

Q: You deposit $296 today into a bank account that earns 12% annually.  How much will be in your…

A:

Q: CNB, Inc. will deposit $25,000 into a money market account at the end of each year for the next…

A: Compound Amount= A=P(1+r)nt   A= FInal amount P= Initial Investment r= interest rate t= No. of times…

Q: Suppose you deposit $1,000 today in an account that pays 5% interest at the end of each year. If…

A: Here, Deposit Amount is $1,000 Interest Rate is 5%

Q: You have $9,259.70 in a brokerage account, and you plan to deposit an additional $5,000 at the end…

A: Given: Rate = 13% PMT = -6000 Present value = -$9,259.70 Future value = $260,000

Q: At the end of each quarter, Patti deposits $1,600 into an account that pays 12% interest compounded…

A: Deposit amount = $1600 Interest = 12% Compounding = Quarterly Quarterly interest rate = 12%/4 = 3%…

Q: On your 18th birthday, you have decided to deposit Php 4696 each month into an account earning 5%…

A: In the given question monthly payment of Php 4,696 is made for 14 years (i.e., from 18th birthday to…

Q: You have $29,307.61 in a brokerage account, and you plan to deposit an additional $4,000 at the end…

A: The number of years required to accomplish the goal can be find out by using the future value of…

Q: Elizabeth Brown has $23,000 that she can deposit into a savings account for five years. Bank A…

A: Here, we need to calculate the future value of the amount deposited today at a given interest rate…

Q: Jason makes six EOY deposits of $2,000 each in a savings account paying 5% compounded annually. If…

A: The compound interest is calculated on the principal amount annually. It considers the present value…

Q: Tony Sanchez plans to retire and to withdraw 10 annual withdrawals that will start at P60,000 at the…

A: The initial deposit will be the sum of the present value of all the withdrawals in the future.

Q: You have $20,000 that you put on deposit on your 30th birthday at 5% compounded annually. On your…

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

Q: A person pays an amount at the beginning of each month and then withdraws half of it in the middle…

A: Here, in the given problem Interest on Deposit and Withdrawals are to be calculated on monthly…

Q: Juan has a goal of saving up $56,397 by making biweekly (26 per year) deposits into a savings…

A: GIVEN, FV = $56,397 M=26 PER YEAR N=9 R=0.6%

Q: A rural bank pays interest at the rate of 2% compounded quarterly. If Neil deposits P3,000 every…

A: Interest rate = 2% quarterly compounded Monthly deposit (M) = P 3000 n = 5 years = 60 months

Q: You have $23,067.36 in a brokerage account, and you plan to deposit an additional $6,000 at the end…

A: The computations as follows: Hence, it will take 14 years to reach your goal.