If $27,800 is invested in an account that earns interest at an annual rate of 2.8%, compounded continuously, how long will it take for the account to reach $120,000? (Round your answer to the nearest year.) It will take 53 Y years

Q: Your friend plans to invest $1,000 per month into an account expected to have an effective annual…

A: Here, EAR is 6.2% Monthly payment (PMT) is $1,000 Required Amount (FV) is $100,000

Q: You have 45,589.25 in a brokerage and you to deposit an additional 5,000 at the end of every future…

A: Time value of money concept will be applied here. Money deposited in an account grows as the amount…

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: Suppose we put $15000 into an account earning 3% interest compounded continuously. How long will it…

A: NPER stands for number of years or periods which is needed to clear or to pay off the loan amount at…

Q: f you wish to save $875,000 in three years, how much would you need to deposit at the start of each…

A: Principal amount invested to save $ 875000 is $ $ 744,941 so to start depositing at the beginning of…

Q: If you have $4500 to invest now, and will need a total of $25,000 -- 10 years from now, determine…

A: Amount available now (PV) = $4500 Period = 10 Years Monthly period (n) = 10*12 = 120 Interest rate =…

Q: If you invest $1700 in an account paying 7% compounded continuously, how much money will be in the…

A: Amount Invested = $1700 Interest Rate = 7% Interest Rate per week(r) = 7%/52 Number of weeks (n)= 65…

Q: If you deposit $8700 today in an account that pays 8.5% per year, compounded quarterly, how much…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: If you deposit $6800 today in an account that pays 5.0% per year, compounded quarterly, how much…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: If you deposit $750 at 12.41% annual interest compounded daily, how much money will be in the…

A: P = $750r =0.1241n =364t = 4A =?

Q: Assume you put $400 per month into a retirement account for 14 years, and the account has an APR of…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: With an interest rate of 8%, how long does it take for an investment of $10, 400 to grow to $20,…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: How much will I have 8 years from now, if I will invest $10398 at the end of each three months for…

A: The future value of the annuity is the total value of all the payments which is occurred regularly…

Q: uppose that you make 35 annual deposits of $2,544 in an account paying 9% APR with daily…

A: Future value of the deposits is the amount of deposits made and the amount of compounded interest…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the…

A: The objective of this question is to find out how many years it will take to accumulate $10,000 by…

Q: Suppose are going to make monthly deposits into an account with an annual interest rate of [8] 2.5%…

A: For calculating the monthly deposit as ordinary annuity; the $1,000,000 amount shall be taken as the…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,300 per year with the…

A: The FV of an investment refers to the combined value of the cash flows of the investment after they…

Q: You will deposit $2,000 per year for the next 10 years. Then, you will start drawing money out of…

A: Future value is the value of the present cash flows in future. Investor will deposit same equal…

Q: 22) An investment pays you $5,000 at the end of each of the next five years. Your plan is to invest…

A: The amount after 5 years can be computed using the future value formula.

Q: Suppose we are going to make monthly deposits in to an account with an annual interest rate of 4.1%…

A:

Q: If $6000 is deposited at the end of each half year in an account that earns 6.5% compounded…

A: The value of money refers to the concept that the value of money changes over time due to various…

Q: What present amount of money must be deposited at 11% interest compounded annually to grow to…

A: Formula to calculate compound interest is: A = P(1+r/n)^nt Where A is the future value, P is the…

Q: Suppose you invest $25500 for 12 years paying 2.25% annual interest. How much will you have at the…

A: The future value is the amount that will be received at the end of a certain period. The future…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year with the…

A: Future value is an estimate of future cash values ​​that may be received at a future date,…

Q: If 14700 dollars is invested at an interest rate of 9 percent per year, compounded semiannually,…

A: Using excel FV function

Q: You deposit $4000 each year into an account earning 2% interest compounded annually. How much will…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: Suppose that $850,000 is invested in a savings account paying 5.25% interest per year. (Round…

A: the given information  amount = $850,000 interest rate = 5.25%

Q: If 14700 dollars is invested at an interest rate of 9 percent per year, compounded semiannually,…

A: The amount at the end of a specific number of years will be the future value of the initial deposit.

Q: If 2400 dollars is invested in an account for 10 years. Find the value of the investment at the end…

A: Future value(FV) is the value of initial investments at a future date after compounding it with a…

Q: How much will be in an account at the end of five years the amount deposited today is $10,000 and…

A: The given problem can be solved using FV function in exceL. FV function computes amount BALANCE in…

Q: You deposit $5000 each year into an account earning 6.8% interest. How much will you have in the…

A: Given: Yearly deposit = $5000 Interest = 6.8% annually Time =15 years

Q: If 8000 dollars is invested in a bank account at an interest rate of 7 per cent per year, Find the…

A: The FV of an investment refers to its value at a future date assuming that its cash flows grow at a…