None How much must be deposited today into the following account in order to have a $115,000 college fund in 15 years?Assume no additional deposits are made.An account with quarterly compounding and an APR of 5.97%$ should be deposited today.(Do not round until the final answer. Then round to the nearest cent as needed.)

Here,Required Amount (FV) is $115,000Time Period (n) is 15 yearsInterest Rate (r) is…

Answered: How much must be deposited today into…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

How much must be deposited today into the following account in order to have a college fund in 11 years? Assume no additional deposits are made. $ 125,000 An account with monthly compounding and an APR of 2.25% $ should be deposited today
How much must be deposited today into the following account in order to have a $135,000 college fund in 13 years? Assume no additional deposits are made. An account with quarterly compounding and an APR of 3.16% should be deposited today. (Do not round until the final answer. Then round to the nearest cent as needed.)
You want to be able to withdraw $4000 from an account at the end of each year for the next 19 years. How much money should you invest now into an account earning 6.6% 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 $500 per year in an account for six years at 9 percent compounded annually, how much will you have in the account? Round your answer to the nearest dollar. $3,270 Give typing answer with explanation and conclusion
How much must be deposited today into the following account in order to have $45,000 in 8 years for a down payment on a house? Assume no additional deposits are made. An account with annual compounding and an APR of 8% $ should be deposited today. (Do not round until the final answer. Then round to the nearest cent as needed.)
Answer the following questions using Excel's RATE, NPER, PMT, PV and FV functions. 2. What sum of money invested today in a retirement fund will permit withdrawals of $600.00 at the end of each month for twenty years if interest is 6% compounded semi- annually?
Answer the Situation below correctly show your complete solution. A deposit of 120 000.00 Php is placed into a college fund at the beginning of every month for 10 years . The fund earns 9 % annual interest , compounded monthly , and paid at the end of the month . How much is in the account right after the last deposit ? c . The number of conversion period is_____________________________.d . The interest rate per period is___________. e . The present value of the deposit is___________. (I just need the Solution) Answers: c. 12; d. 0.075; e. 30 000.00 Php
Answer the Situation below correctly show your complete solution. A deposit of 120 000.00 Php is placed into a college fund at the beginning of every month for 10 years . The fund earns 9 % annual interest , compounded monthly , and paid at the end of the month . How much is in the account right after the last deposit ? a . The type of annuity illustrated in the problem is _____________________.b . The term is __________________.c . The number of conversion period is_____________________________.d . The interest rate per period is___________. e . The present value of the deposit is___________. (I just need the Solution) Answers: a. Simple Annuity; b. 10; c. 12; d. 0.075; e. 30 000.00 Php
How much should be deposited now into an account earning 8.4% interest per year, compounded every 6 months, in order to fund withdrawals from the account in the amount of $1500 at the end of each 6 month period for the next 9 years? The account is to be empty after the last withdrawal is made. Round to the dollar and do not include $ sign in your answer just the number
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
You are making $5,000 monthly deposits into a fund that pays interest at rate of 6% compounded monthly. What would be the balance at the end of the 15 years? please calculate the question using excel.
How much must you deposit into an account today so that you can have $25,000 in twelve years? Assume that the account earns 6% per year compounded quarterly. You should deposit $ (Round the final answer to the nearest cent as needed. Keep all decimal places as you work through the problem.)

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS