If you deposit OMR 8141 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years.
Q: future value of your money in 17 years.
A: Future Values: Future value is the value that will be increased or decreased after a particular…
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…
A: Each month $100 is to be put into an account earning 8% interest compounded monthly. Periodic…
Q: If you deposit $250 each month into an individual retirment account that earns 4.8% interest…
A:
Q: You deposit $100 each month into an account earning 6% interest compounded monthly. a) How much…
A: Future value refers to the amount worth in future time which is deposited today by an investor at…
Q: If you deposited $5000 in a bank that offers 12% annual interest rate, if the bank compounds the…
A: Deposit=5000Annual interest rate=12%Number of years=5years
Q: If you deposit OMR 8415 in your account in a bank. Suppose the bank pays 8% compound interest half…
A: Future value is the value of current asset or investment at a future date. Future value is…
Q: If you deposit $100 in a savings account at the end of each month for 2 years, the balance will be a…
A: Ordinary Annuity means a series of equal payments that are made over a fixed length of time at the…
Q: Suppose your bank pays 10% interest, compounded semiannually. Find out how much should be deposited…
A: Present value is the amount a person is willing to pay now, in order to get an amount for a…
Q: If you deposit OMR 8854 in your account in a bank. Suppose the bank pays 8% compound interest…
A: future value = present value*(1+rate)^n future value = 8854*1.08^7
Q: Each day, you deposit $4.79 into a bank account whose annual rate is 1.6% with daily compounding.…
A: Daily deposit (P) = $4.79 Interest rate = 1.6% Daily interest rate (r) = 1.60%/365 =…
Q: If you deposit in a bank $200 today, $250 a year from now, $150 in the second year and $300 in the…
A: Future value is the expected value of current sum in a future date at given interest rate.
Q: As part of your retirement plan, you have decided to deposit $9,000 at the beginning of each year…
A: Note:- “Since you have asked multiple questions, we will solve the first question for you. If you…
Q: If you deposit OMR 20555 in your account in a bank. Suppose the bank pays 8% compound interest…
A: We need to use future value formula given below to calculate future value of deposit FV =PV(1+i)n…
Q: If you deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your…
A: Solution- Given-The present value of deposit is=$2,000The rate of interest is=6%Time is…
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much…
A: a) Hence, amount of $149,035.94 have in account in 30 years.
Q: You deposit $200 each month into an account earning 3% interest compounded monthly. a) How much…
A: Monthly Deposit = 200 Monthly Compounding Time Period (n) = 240 months Interest Rate (r) = 3%/12 =…
Q: Assume that twenty years from now, you will need $50,000 and that your bank compounds interest at a…
A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…
Q: Suppose you currently have $4,800 in your savings account, and your bank pays interest at a rate of…
A: Present value is the sum of money that must be invested to achieve a specific future goal. Future…
Q: a) if the interest rate is 8%, what is the present value of the cash flows? b) what is the future…
A: The time value of money implies that the cash in hand at present has a higher value than the cash…
Q: |You have $5,000 in your savings account that pays 4% interest. How much will you have in your…
A: An interest method in which current interest is computed by multiplying the interest rate by the sum…
Q: If you borrow $24398 with an annual rate of 9% compounded monthly and make a payment of $282 every…
A: Here we will use the concept of time value of money. As per the concept of time value of money the…
Q: You initially deposit $3,000 in to a savings account for 5 years, paying 6% compounded annually.…
A: We will first establish the timelines We deposit $3,000 for 5 years at an interest of 6%. t0 is…
Q: If you are planning a trip to other place after 3 years. And, if you intend to deposit savings of…
A: According to the time value principle, a sum of money may have different purchasing powers in…
Q: Suppose you have $8,675,309 to deposit into a savings account for one year. The bank lets you choose…
A: Here Investor has $8,675,309 to deposit for 1 year @ 12% in two options: Compounded annually…
Q: You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a…
A: Time Period = 7 years Future Value Required = 80,000 End of period deposits Interest Rate = 11%…
Q: Suppose for an annuity due, you want to have S30,000 in the bank after 20 years. Assuming you make…
A: Time value of money is a concept that helps in determining the value of future cash flows…
Q: You want to have $10000 in five years. How much should you deposit today if the bank pays 4%…
A: $10000 in 5 Years That is 5*12 months = 60 Months (n) Interest rate 4% annual compounded monthly…
Q: Suppose that each week, you deposit $43 into a savings account whose annual rate is 1.8% with weekly…
A: We need to use future value of annuity formula to calculate balance of account after 14 years. FV…
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…
A: Monthly deposit (P) = $ 100 Interest rate = 8% Monthly interest rate (r) = 8%/12 =…
Q: If you deposit 10000 in a bank account that pays 10% interest annually, how much will be in your…
A: The amount in the account after 5 years is future value of the deposited amount. Future value can be…
Q: How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank…
A: Given details are : Present value = $1500 Time period = 12 years Interest rate = 5% We need to…
Q: Suppose you deposit $20,000 in an account today that pays 4% interest, compounded annually. How long…
A: Here, 20,000 is deposited today and future value is $80,000. Want to calculate how many years it…
Q: Suppose your savings account pays 6% interest compounded monthly. If you deposit $18,000 forfour…
A: Time value of money (TVM) means that the money received today will be worth more than the money…
Q: You want to have 75000 in your savings account 12 years from now, and you’re prepared to make equal…
A: Given information: Amount at the end (Future value) 75000 Time Period (in years) 12 Interest…
Q: If you deposit $300 now into a savings account and increase your deposits by 10% each month. How…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: Your bank account pays a nominal interest rate of 8%, compounded quarterly. You deposit $500 in the…
A: Here, Deposit today is $500 Deposit at the end of first year is $1,000 Interest Rate is 8%…
Q: If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your…
A: In the given question we require to compute the future value from following details: Present value =…
Q: You have decided to open a savings account and put $9000 in your local bank at an interest rate of…
A: Given: Present value = $9,000 Interest rate = 0.6% Years = 8
Q: Assume that you keep RM5,555 in the savings account at Affin Bank with an interest of 15 percent per…
A: Saved amount = RM 5,555 Annual interest rate = 15% Period = 5 Years
Q: How much money must be deposited in a savings account each quarter in order to accumulate $10,000 at…
A: The Future Value of the annuity is the total value of all the payments which is occurred regularly…
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much…
A: Annuity amount = $100 Monthly rate of interest = 0.6667% (8.00% / 12) Number of months = 300 months…
Q: You deposit $4000 in an account earning 2% interest compounded daily. How much will you have in the…
A: Given, Deposit amount = $4000 Interest rate = 2% Compounding = Daily
Q: How much would be in your savings account in 7 years after depositing $100 today if the bank pays 5…
A: Using excel FV function
Q: If you need 6,000 5 years from now, how much of a deposit must you make in your savings account…
A: Future value (FV) = 6000 Number of annual payments (n) = 5 Annual interest rate (r) = 8%
Q: Suppose a bank pays you 4% interest compounded quarterly. You deposited $10,000. How much will you…
A: If interest is computed on the actual loan amount, then it is simple interest. When the interest is…
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- You deposit $100, $150, & $200 in a bank account at the end of years 1,2,& 3 and earn 7%interest. If (P/G, 7%, 3)=2.506 and (A/P, 7%, 3)=.3811 what is the present value (now) ofthese deposits.May I ask for an explanation and solution to the question for a better understanding. Thank you! 11. You plan to invest an amount of money in a certificate of deposit (CD) at your bank. The stated interest rate applied to the CD is 12%, compounded monthly. How much must you invest if you want the balance in the CD account to be P8,500 in 2½ years? a. P143,302.66 b. P11,941.89 c. P6,306.34 d. P11,302.14You deposit $ 7,812 in your account today. You make another deposit at t = 1 of $ 6,946 . How much will there be in your account at the end of year 1 if the interest rate is 11.9 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer:
- suppose that you overdrew your bank account by $200. the bank charge you a fee of $30 and your paycheck will be deposited in 5 to cover the overdraft. please calculate the period rate apr and aer that you pay for this overdrewWants to loan from a certain bank. He asks you for a piece of advice for him to save from the loan. Which of the following will you recommend as his best option? A. 12.35% compounded annually B. 11.90% compounded semi-annually C. 11.70% compounded monthly D. 12.20% compounded quarterlyPLEASE SOLVE ALL PART. Problem 2 Assume that it is now January 1, 2022. On January 1, 2023, you will deposit Rs 1,000 into a savings account that pays 8 percent. a.If the bank compounds interest annually, how much will you have in your account on January 1, 2026?b.What would your January 1, 2026, balance be if the bank used quarterly compounding rather than annual compounding?c.Suppose you deposit the Rs 1,000 in 4 payments of Rs 250 each on January 1 of 2022, 2023, 2024, and 2025. How much would you have in your account on January 1, 2026, based on 8 percent annual compounding?d.Suppose you deposit 4 equal installments in your account on January 1 of 2023, 2024, 2025, and 2026. Assuming an 8 percent interest rate, how large would each of your payments have to be for you to obtain the same ending balance as you calculated in part (a)?
- You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 24% APR with monthly compounding. What is the effective annual rate you'll actually be paying? Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.23456, then enter 23.46You would like to earn simple-interest $1 800 from a term deposit at 4.25% in 8 months. Calculate the principal you need to invest. Round your answer to the nearest dollar. O a. $72 605 O b. $63 529 O c. $77 775 O d. $67 818 O e. $56 471If you deposit $P into a savings account that earns interest at a rate of i% per month for n years, the future worth in year n is represented by all of the following equations, except: (a) F = $P(F∕P, effective i/month, 12n) (b) F = $P(F∕P, effective i/quarter, 3n) (c) F = $P(F∕P, effective i/6-month, 2n) (d) F = $P(F∕P, effective i/year, n)
- Suppose that you owe $2,000 on a credit card that charges 18% APR and you pay either the minimum 10% or $20, whichever is higher, every month. How long will it take you to eliminate the debt? Assume that the bank uses the previous-balance method to calculate your interest, meaning that the bank does not subtract the amount of your payment from the beginning balance but charges you interest on the previous balance.Give typing answer with explanation and conclusion A deposit of $450 earns the following interest rates: 9 percent in the first year. 7 percent in the second year. 6 percent in the third year. What would be the third year future value?You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 19.1% APR. What is the effective annual rate you'll actually be paying? The credit card company uses monthly compounding of interest. Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.23456, then enter 23.46 21.98