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A: Calculate the future value as follows:MS-Excel --> Formulas --> Financials --> FV
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A: Deposit amount (D) = $235000 n = 3.5 years r = 8% Let annuity at the end of each year = A
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A: The interest rate is 6%, compounded quarterly. The interest rate per quarter will be (6%/4) = 1.5%.…
Q: A personal account earmarked as a retirement supplement contains $242,300. Suppose $200,000 is used…
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Q: What formula do I use for this problem. A breakdown would be great to see. A personal account…
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Q: A personal account earmarked as a retirement supplement contains $342,300. Suppose $300,000 is used…
A: Computation:
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Q: A personal account earmarked as a retirement supplement contains $292,100. Suppose $250,000 is used…
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Q: A personal account earmarked as a retirement supplement contains $292,200. Suppose $250,000 is used…
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A: Please see the next step for the solution
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Q: a personal account earmarked as a retirement supplement contains 242,400. suppose 200,000 is used to…
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Q: A personal account earmarked as a retirement supplement contains $292,200. Suppose $250,000 is used…
A: The concept of the time value of money states that the current worth of money is more than its value…
Q: A personal account earmarked as a retirement supplement contains $342,200. Suppose $300,000 is used…
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A: Here, To Find: Present value of annuity due =?
A personal account earmarked as a retirement supplement contains $342,200. Suppose $300,000 is used to establish an
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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?You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.A personal account earmarked as a retirement supplement contains $242,200. Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $6000 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)
- A personal account earmarked as a retirement supplement contains $292,100. Suppose $250,000 is used to establish an annuity that earns 5%, compounded quarterly, and pays $6500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.) quartersA personal account earmarked as a retirement supplement contains $242,300. Suppose $200,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $5500 at the end of each quarter. How long will it be until the account balance is $0?a personal account earmarked as a retirement supplement contains 242,400. suppose 200,000 is used to establish an annuity that earns 6% compounded quarterly and pays 4,500 at the end of each quarter. How long until the account balance is zero?
- What formula do I use for this problem. A breakdown would be great to see. A personal account earmarked as a retirement supplement contains $242,400. Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $6000 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.) quartersA personal account earmarked as a retirement supplement contains $342,400. Suppose $300,000 is used to establish an annuity that earns 7%, compounded quarterly, and pays $5500 at the end of each quarter. How long will it be until the account balance is $0? (Round your answer UP to the nearest quarter.)(There was a similar question to this, but had a step without proper explanation, resulting in confusion.)How much must you deposit each year into your retirement account starting now and continuing through year 10.00 if you want to be able to withdraw $95000 per year forever, beginning 33.00 years from now? Assume the account earns interest at 9.00% per year. (Round the final answer to three decimal places.) The amount to be deposited is determined to be $
- Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $2,500 is set aside each year and invested in a savings account that pays 8% interest per year, compounded continuously. a. Determine the accumulated savings in this account at the end of 29 years. b. In Part (a), suppose that an annuity will be withdrawn from savings that have been accumulated at the EOY 29. The annuity will extend from the EOY 30 to the EOY 36. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change? Click the icon to view the interest and annuity table for continuous compounding when i=8% per year. a. The accumulated savings amount at the end of 29 years will be $275384. (Round to the nearest dollar.) b. The value of the annuity will be $41655. (Round to the nearest dollar.)Suppose that for retirement purposes, over the course of 27 years, you make monthly deposits of $480.00 into an ordinary annuity that pays an annual interest rate of 4.954% compounded monthly. After those 27 years, you then want to make monthly withdrawals for 28 years, reducing the balance in the account to zero dollars. a) Find the amount of money you have accumulated in the annuity over the first 27 years: b) How much should you withdrawing monthly from your account so that the balance reaches zero dollars after the final 28 years? (Note: Your answers should have a dollar sign and be accurate to two decimal places)Find the amount of an annuity that consists of twenty-five annual payments of $800 each into an account that pays 6% interest per year. (Round your answer to the nearest cent.)