If Bob and Judy combine their savings of $1,000 and $800​,respectively, and deposit this amount into an account that pays 7% annual​ interest, compounded monthly, what will the account balance be after 4 ​years?

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A: Given: PMT = $15,000.00 (ordinary annuity payment per year) r = 8.00% compounded yearly, which is…

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A: Time value of money: The value of money changes with time. It is the concept that worth of a dollar…

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A: To calculate the investment amount we will use the below formula   Investment amount = F/(1+r/m)n*m…

Q: d. Ja d. 1

A: In this question future value when deposits are made at the beginning as well when deposits are made…

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Q: Maria wishes to accumulate $8,000 by the end of 5 years by making equal, annual, end-of-year…

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Q: How much will they have in this account at the end of 1 year?

A: Information Provided: Term = 1 year Interest rate = 24% compounded monthly Monthly deposit = $1000…

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A: Present value refers to the discounted value of all future cash flows discounted at a specific rate…

Q: Grandma gave you 600 for your graduation. You deposit it into an account that earns 4% annually.…

A: Given:Principal amount (P)=600Rate of interest (r) =4% annually.It is assumed that the interest is…

Q: Ann would like to have $20,000 saved in 7 years from today and can earn 3.8% on deposits. She plans…

A: we will find future value of each deposits and sum of all future values shall be equal to 20000

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Q: 2. A child deposits his birthday money of $350 into an account that pays 5.6% interest compounded…

A: Future Value of annuity = P  [(1+r)^n - 1]/ r

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A: Future value = $ 100,000 Period = 4 Years Period in quarters = 4*4 = 16 Annual interest rate = 8%…

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Q: If Bob and Judy combine their savings of $1,500 and $900, respectively, and deposit this amount into…

A:

Q: Determine the kind of annuity used in the following situations. Then, solve the problem. Show your…

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Q: if her dad deposits R3570,00  at the end of every six months for the next four years into a bank…

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