If you contribute $1000.00 into an RRSP every six months for fifteen years and interest on the deposits is 8% compounded semi-annually, how much would the balance in the RRSP be after the last contribution?

Q: Ms. Aay is considering to deposit $500 every six months, and would receive interest at an annual…

A: Semi annual deposit (P) = $ 500 Annual interest rate = 8% Semi annual interest rate (r) = 8%/2 = 4%…

Q: If you save $1,900 at the beginning of every year for ten years, for how long can you withdraw…

A: Annuity refers to a cashflow screen of equal amount at equal time intervals or in simple words…

Q: w 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  future value for…

Q: You wish to have $200,000 at the end of twenty years. In the last five years, you withdraw $1,000…

A: Amount at end of 20 years = $200,000Withdrawal = $1000 @ rate = 3.8% compounded quarterlyMonthly…

Q: What payment, made at the end of each year for 11 years, will accumulate to $14,500 at 6% compounded…

A: Here the effective annual rate (ear) will be computed first.EAR = (1+(given rate/m))^m-1Given rate…

Q: what is the present value of 54,000 paid at the end of each of the next 96 years if the interest…

A: Yearly Payment (P) = 54,000Number of years (n) = 96Interest rate (r) = 3% or 0.03We can use the…

Q: financial institution is offering a six-year term deposit that will pay 7% per annum compounded…

A: 1) Value at end of 5 years  Solved using Financial Calculator  PV = -125,000 I/Y = 7/4 = 1.75 N = 5…

Q: You deposit $3000 in an account earning 7% interest compounded monthly. How much will you have in…

A: Data given: PV=$3000 I=7% (compounded monthly) N=15 years   Working Note#1 Computation of monthly…

Q: What amount must be set aside now to generate payments of $30,000 at the beginning of each year for…

A: Annual payment (P) = $30,000 Interest rate (r) = 5.52% Period (n) = 10 Years

Q: Suppose you wish to accumulate $20,000 over a 10-year period in an account that pays a steady 5% per…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: You deposit $64000 into an account which pays 5% compounded monthly. You wish to make semiannual…

A: Amount that can be withdrawn from account depends on the period of withdrawal and interest rate of…

Q: how much would be available at the end of the time period. How much is the interest earned?

A: Time value of money (TVM) means that the money received in the present period will have more value…

Q: Assume you make 10 equal annual deposits of $2000 into an account paying 8% per year. How much is in…

A: The amount available 6 years after the last deposit will be the future value of this annuity.

Q: Ms. Aay is considering to deposit $600 every six months, and would receive interest at an annual…

A: In the given question, semi-annual deposits of $ 600 are made for next 5 years, wherein first…

Q: You will receive $1,000 forever starting from the end of next year. The account pays  10% compounded…

A: The PV of an investment refers to the combined worth of the cash flows of the investment after they…

Q: A company wants to have $50,000 at the beginning of each 6-month period for the next 4+1/2 years. If…

A: Final amount = $50,000Time = 4.5 years Rate = 6.23% compounded semi-annually

Q: You have a financial goal of $140,000. The rate is 3% compounded annually. The time is 16 years.…

A: Formula to calculate annual periodic deposit Annuity=FV *r[(1+r)n-1] Where, FV = Future value r =…

Q: If you were to borrow $9,600 over five years at 0.12 compounded monthly would be your monthly…

A: Please refer to the image below.

Q: If for the next 40 years you place $3,000 in equal year-end-deposits into an account earning 8% per…

A: The amount of $3,000 that is being placed in equal year end deposits is an annuity. The amount that…

Q: Given an interest rate of 8.2% compounded annually, how much would you accumulate if you started…

A: Future value is the future worth of the given cash flows at the given period and interest…

Q: If you save $580 at the beginning of every six months for nine years, for how long can you withdraw…

A: The future value of the annuity is the future worth of a cash flow series at a certain rate of…

Q: Your firm has estimated the following cash flows for tw mutually exclusive capital investment…

A: Discounting payback period is calculated by discounting the cash flows of the projects. Discounting…

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: If you deposit RM15,000 in an account earning 20% with semi annually compounding, how much would you…

A: Compounding is a way to find the FV of a deposited amount by considering the appropriate rate for…

Q: What is the future value of 1,000 over five years if 8% interest is paid annually ?

A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…

Q: if $204 is deposited in a savings account at the beginning of each year for 12 years and the account…

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

Q: You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: Interest rate = 5% Present value = $4,000 Period = 10 years

Q: How much money must be deposited at the end of each quarter if the objective is to accumulate…

A: Working note:

Q: How long will it take an RESP to grow to $200,000, if the plan owner contributes $250 at the end of…

A: The payment flow which continues for a definite time period and terminates after lapse of time…

Q: If 400,000 is deposited at the rate of 6% compounded annually at the beginning of each period for 6…

A: The Future value of annuity due is the total future value of each cash flow which is made at the…

Q: what uniform annual amount should be deposited each year in order to accumulate 1 million at the end…

A: All sorts of future cash flows in respect of adding interest on present value are known as future…

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 wish to have $400,000 at the end of twenty-five years. In the last ten years, you contribute…

A: In this question one has to find the present value of the investment. The future value is given as…

Q: What is the present worth of an annual payment of P5, 000 at the end of each year for 10 years at 10…

A: The present value of annuity will be calculated at the end of year 4 since annuity begins from Year…

Q: If you invest $154 at an interest rate of 6% (annual rate) compounded annually, how much interest…

A: Interest earned is the interest which is applied on the principal. It is the interest for using…