Karen wants to have $22,011 in her investment account in 6 years. If her bank offers an annual compound interest rate of 2% with monthly compounding, how much should she deposit today?
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Karen wants to have $22,011 in her investment account in 6 years. If her bank offers an annual
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Cheryl is setting up a payout annuity with her bank. She wants to receive a payout of $1200 per month for 20 years. A. How much will she have to deposit if she earns 8% interest compounde monthly? B. What's the total she will receive from her payout annuity?Karen wants to have $22,559 in her investment account in 5 years. If her bank offers an annual compound interest rate of 1.2% with monthly compounding, how much should she deposit today? Round your answer to the nearest dollar.
- Charlotte wishes to accumulate $100,000 in a savings account in 10 years. If she wishes to make a single deposit today and the bank pays 4% compounded annually on deposits of this size, how much should Charlotte deposit in the account?What will be the deposit amount for Jane if she wants to buy a car within 7 years with a price of BDT2500000 and the Bank interest rate is 9%? Remember that Jane wants to make those payments in advance of each Quarter.Sara wants to make a deposit now into an account that earns 3% annually so that she will be able to withdraw an amount of $125 at the end of each of the next 5 years. How much should she deposit today?
- Mrs Sam has deposited $ 18,000 in a bank at the rate of 7% per annum. Find out how much she will receive after 12 years? Also comment on what effect will she get on her initial deposit if the rate is changing to 10% if she still willing to receive the same sum after 12 years.Carol wants to invest money in an investment account paying 8% interest compounding semi-annually. Carol would like the account to have a balance of $58,000 three years from now. How much must Carol deposit to accomplish her goal?Sara decides to set up a retirement fund by depositing $24 at the end of each day for 13 years. How much will she have then, if the interest rate is 6.48% compounded weekly and her account starts with $13487 already deposited?
- Sarah opens an investment account with an initial deposit of $1900. She then sets up monthly deposits of $120 to the account. If the account earns 2% interest compounded monthly, how much money will she have in the account in 8 years?Betty wants to invest a monthly sum of money in order to accumulate R100000 in seven years. How much must be the deposit monthly if her bank offers her an interest rate of 6% per annum compounded monthly? What if she was given an interest rate of 8%?Ayesha wants to deposit 300 per year in a bank for the next 10 years. The bank pays annual interest rate of 8%. Future value is:
