How much would be in your savings account in seven years after depositing S290 today if the bank pays 10 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future value
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A: (1) (a.) FV =PV*(1+r)^n =4000*(1+8%)^12 =10072.68 (b.) If rate =8% with monthly compounding FV…
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A: Future value is an amount reccievable in future(after certain period) by investing today. Formula…
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A: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…
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A: Investment = 1200 Quarterly Compounding Interest Rate = 6%/4 = 1.5% Time Period = 4 years × 4 = 16…
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Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…
A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…
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A: Present value refers to the current valuation for a future sum. Investors determine the present…
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A: Deposit=$8000Interest rate=4%Number of years=5
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A: Future Value is known as Terminal Value. The accrued amount of FVn on principal amount after n…
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A: Future value of annuity=C×1+in-1iC=Cash flow per periodi=Interest raten=Number of payments
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A: Loan Amount = $11,500 Time Period = 5 Years Interest Rate = 9% compounded monthly
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A: Amount deposit today is calculated by adding the present value of all the cash flows.
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A: The conceptual formula used:
Q: How much would be in your savings account in 9 years after depositing $190 today if the bank pays 9…
A: Deposit amount (P) = $190 Interest rate (r) = 9% Period (n) = 9 Years
Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…
A: The formula to calculate future value of annuity is given below,
Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…
A: Future value is the expected value of annual deposit to be made at specified interest rate. Given:…
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A: Given The rate of interest is 9.5%
Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…
A: Interest = Principal * rate * time Interest =$13500*3%*10/12 Interest = $337.50
Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…
A:
Q: If you deposit $500 every 6 months for 7 years at an interest rate 20% compounded quarterly, how…
A: The amount at the end of 7 years is the future value of the semiannual deposits.
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A: Let us assume you deposit $100 so FV would be $200
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A: Answer b) Total amount put by us in account: = Amount monthly invested * 12 * number of years =…
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A: Present Value refers to the value of cash flows today which is to be received at some future time…
Q: How much would be in your savings account in 7 years after depositing $350 today if the bank pays 10…
A: To calculate the future value we will use the below formula Future value = P*(1+r)t Where P -…
Q: How much would be in your savings account in 11 years after deposting $150 today if the bank pays 8…
A: Given: Present value (PV) = $150 Rate of interest (r) = 8% = 0.08 Number of years (n) = 11
Q: The bank balance will be $
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. 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 third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?
- Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityIf you put $1,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in 7 years? Round the answer to the nearest cent. Round FV-factor to three decimal places or use the Appendix A . (Hint: Use the future value formula.) $ How much interest will you earn during the 7 years? Round the answer to the nearest cent. $ If you put $1,000 at the end of each year into a savings account that pays interest at the rate of 3 percent a year, how much would you have after 7 years? Use the Appendix B . Round the answer to the nearest cent. Round FV-factor to three decimal places. $
- If you deposit OMR 20555 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years.How much would be in your savings account in 9 years after depositing $190 today if the bank pays 9 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) whats the future valueYou plan to deposit $2,300 per year for 5 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. What amount will be in your account at the end of 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.
- You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. Assume that your deposits will begin today. What amount will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.How much would be in your savings account in 7 years after depositing $100 today if the bank pays 5 percent interest per year?If you deposit money today in an account that pays 10.7 percent annual interest, how long will it take to double your money? a. 6.82 years b. 9.35 years c. 10.70 years d. 2.73 years e. The answer cannot be calculated without knowing how much money is initially deposited.