How much must be deposited at the beginning of each year in an account that pays 6%, compounded annually, so that the account will contain $40,000 at the end of 5 years? (Round your answer to the nearest cent.) Need Help? Read It Watch It
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- You want to be able to withdraw $5000 from an account at the end of each year for the next 12 years. How much money should you invest now into an account earning 5.5% interest per year, compounded annually, in order to fund the desired withdrawals? Assume the account is empty after the last withdrawal is made. Give the answer to 2 decimal places, and do not use the $ sign in the answer box. The amount to invest now is Blank 1. Calculate the answer by read surrounding text. dollars.If you deposit $4,000 at the end of each year into an account which earns 10.3%, how many years will it take until your account is worth $1,000,000? (using a spreadsheet)If you deposit $300 at the end of every month in a savings account that pays a nominal APR of 5% per year, compounded daily, how much will you have at the end of a year? I need this answered with Excel, formulas, layout, screenshots.
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