If you desire to have $10,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent.
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If you desire to have $10,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent.
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- 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 desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent.If you desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent. Use the appropriate factor(s) from the tables provided
- If you desire to have $15,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 5 percent. Use the appropriate factor(s) from the tables provided (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)you need $8,000 four years from now for a down payment on your future house. How much money must you deposit today if your credit union pays 5% interest compounded annually? Pick the closest answer.To save for a down payment on a home, you invest in an annuity that pays 7.0% annual interest, compounded annually. If you contribute $8,000 every year for 5 years, how much interest would you earn during the 5 years? Round your answer to the nearest cent.Do NOT round until you have calculated the final answer.
- Can you help me work out this problem in detail? Ben wants to receive $6,000 a year for 10 years. How much must he invest today in an annuity that pays 7% annually?You want to be able to withdraw $30,000 from your account each year for 25 years after you retire.You expect to retire in 20 years.If your account earns 5% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?You need to have $25000 for a down payment on a house in 5 years. If you can earn an annual interest rate of 4.7 percent , how much will you have to deposit today?
- You want to make five annual payments of $6,000 beginning now in order to accumulate $35,000 for a down payment on a house in five years. What is the annual interest rate you would need to receive to accomplish this goal?To save for a down payment on a home, suppose you decide to invest in an annuity that pays 7.0% annual interest, compounded annually. If you contribute $8,000 every year for 5 years, how much interest would you earn during the 5years? Enter your answer, rounded to the nearest cent, without the dollar sign or comma ($21,678.1235 should be entered as 21678.12.)A relative has promised to pay you $93.00 today, and he will pay you additional payments every year for the next five years. Each year he will add $73.00 to the previous payment. (So, the payment in year 1 will equal $166.00). You decide to save every dollar you are given and will invest the money in an account paying 4.00% annual interest. How much money will you have accumulated in five years? Keep in mind that you will have six total cash flows to invest. Submit Answer format: Currency: Round to: 2 decimal places.