How much should you invest each month in order to have $700,000 if your rate of return is 3.6% compounded monthly and you want to achieve your goal in 40 years? How much interest will you earn? How much should you invest each month in order to have $700,000 if you want to achieve your goal in 20 years? If you deposit the amount you need to achieve your goal in 20 years, how much will your savings be worth after 10 years?

Q: Problem 3 An investor bought a discount bond with face value of $1,000 at the price of $870. The…

A: Given  FV = 1,000 Price = 870

Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Compounding interest means the interest is calculated for the principal and after each period the…

Q: "You are interested in buying a piece of real property that could be worth $313,000 in 15 years.…

A: Here, we calculate the given as follow;

Q: What is the best way to do this outside of Excel using Compound Interest Tables

A: When the project has different lives, it will be compare over the least common multiple method

Q: You would like to invest your money at one of the three main banks in your area. The banks offer…

A: Use the below formula to find the effective annual interest rate: Effective annual interest rate = 1…

Q: In one instance, a financial institution loaned you $60,000 for two years at an APR of 5.75% for…

A: First instance: Given , Principal = $60000 APR = 5.75% Time period = 2 years Thus, simple interest =…

Q: If you want to buy a car in two years that cost $20,000.00, how much should put away every month if…

A: Present value is the value of investment in today's dollar.Future value is the value of investment…

Q: Ali takes out a loan at 10 percent compounded annually for 7 years. At the end of this period, he…

A:

Q: 1. A series of equal quarterly receipts of $5000 extends over a period of five years. What is the…

A: Hi! thanks for the question but as per the guidelines, we can answer only one question at one time.…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Step 1: Step 2: Step 3: Step 4:

Q: If a lender makes a simple loan of ​$800 for 4 years and charges 3%,then the amount that the lender…

A: The objective of the first part of the question is to calculate the total amount that the lender…

Q: For the following questions, choose the letter of the best answer (Show any work and explanations):…

A: Using straight-line depreciation,, 99, 254); position: relative; display:…

Q: How many years will it take an investment to triple if the interest rate is 6% compounded…

A: Given: Future value = 3 * Present value Thus FV = 3PV Interest rate (i) = 0.06 Time (t) = ?

Q: Suppose that you make a series of annual deposits into a bank account that pays 8% interest. The…

A: here we calculate how much would  have immediately after the fifth deposit  by following method…

Q: If a lender makes a simple loan of $400 for 5 years and charges 7​%, then the amount that the lender…

A: The objective of the first part of the question is to calculate the total amount that the lender…

Q: Sam promises to pay Sandy $2,000 in four years and another $3,000 four years later for a loan of…

A: Interest rate: The real interest rate is the rate of interest that is being calculated in an economy…

Q: 1. A financial institution is willing to lend you $2,000. However, you must repay $2,008 at the end…

A: introduction The sum that the lender demands from the borrower in addition to the principal amount…

Q: Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is…

A: By using the formula;A=P1+r100n Where, A= Future value P= Present value r= Rate of interest n= Time…

Q: Suppose Crystal Wilson wants to accumulate $1,000,000 by the time she retires in 40 years. If she…

A: Given, FV = $1,000,000  Time = 40 years  Rate of interest = 10%

Q: If you invest $4,000 at 3% interest compounded monthly, how long will it take you to reach $5,000 ?

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: 4. Ellen borrowed P100,000 from a local bank at 10% annually. She must pay back the loan in five…

A: Given; Amount borrowed= P100000 Interest rate= 10% annually Time period= 5 years Number of…

Q: What rate of interest compounded annually would result in receipt of $22,110 in seven years from…

A: Compound interest will be computed by multiplying the present value amount by one plus the annual…

Q: What is the amount of interest earned on $5,000 for eight years at 10% simple interest per year?

A: Since, you have asked more than one question, we will be answering the first one for you. If you…

Q: 2. What is the future worth of #10,000 invested every month for five years at 8% interest rate…

A:

Q: carlos invests $6000 in a 24 month CD that has a 4.75 interest rate. use the formula to find how…

A: Certificate of Deposit (CD) The investors and the authorised banking and financial institution sign…

Q: How many years will it take an investment to triple if the interest rate is 8%compounded?

A: The rule of 115 can be used to calculate the number of years that take an investment to triple.

Q: Michelle Hunter received $250,000 from an insurance company after her hus- band's death. Michelle…

A: An interest rate is the amount of interest due per period, as a proportion of the amount lent,…

Q: How much money will you have in seven yearsif you deposit $7,000 in the bank at 8.5%…

A: Compound interest rate is addition to the interest of interest. It can be applicable both loan and…

Q: a) What is the future value of a series of payments of $6,000 each, at the end of 8 years, at 6%…

A: Ordinary annuity is the equal series of payment is made at constant interval at the end of each…

Q: If you deposited $5,000 in your saving account three years ago and you will collect them now as…

A: Deposited amount 3 years ago = 5000 Value of the deposit now = 5995.08  Number of years = 3

Q: How much money will be in a bank account at the end of 15 years if $100 is deposited today and the…

A: Compound interest formula is A = P (1 + i)n

Q: Ms. Roberts decided to invest some money in an insurance company with an interest rate of 9%…

A: We use the rule of 72 here. Rule of 72: Years to double the principal = 72/Interest Rate

Q: Let's say that you invest $8000 at 3.1 percent annual interest for 6 years. What will its value be?…

A: Given that, Principal (P) = $8000 Rate (R) = 3.1% = 0.031 = r Time (t) 3years

Q: Suppose that the interest rate is ɔ percent. The future value of $1,000 four years from now is $…

A: The future value of total interest represents the amount of interest that will accumulate on a…

Q: You purchase a home for $436,000 by making a down payment of 15% and financing the remaining amount…

A: Given the below: Purchase price = $436,000 Interest rate = 2.12% compounded monthly or 2.12%/12 =…