On June 3, 2014, Crystal Nelson deposits $8,000 in an account earning 2.5% compounded daily. What will the future value of this account be on December 15, 2025?
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On June 3, 2014, Crystal Nelson deposits $8,000 in an account earning 2.5% compounded daily. What will the
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- Trina opened a deposit account on December 1, 2016 with a deposit of $5 000. She added $2000.00 on September 1 2018 and will add $ 6000 on December 1, 2023. How much will be in the account on June 1, 2024 if the deposit earns 12% compounded monthly?You wish to have $10,000 on August 1, 2026. You plan to to make monthly deposits into an account with pays 5% monthly. Your first deposit will be on March 1, 2019, and your last will be on February 1, 2021. What are the size of your deposits?You invested $10,000 on February 8, 2021, in an account that pays 4% compounded monthly. If simple interest is used on the partial period, how much is in the account on January 22, 2024?
- Slim made a single deposit of $5,000 in an account that pays 7.2% in 2012. What equal-sized annual withdrawals can Slim make from the account if the first withdrawal occurs in 2017 and the last occurs in 2022?It is now January 1, 2018, and you will need $1,000 on January 1,2022, in 4 years. Your bank compounds interest at an 8% annual rate.a. How much must you deposit today to have a balance of $1,000 on January 1, 2022?b. If you want to make four equal payments on each January 1 from 2019 through 2022 to accumulate the $1,000, how large must each payment be? (Note that the payments begin a year from today.)c. If your father offers to make the payments calculated in part b ($221.92) or to give you$750 on January 1, 2019 (a year from today), which would you choose? Explain.d. If you have only $750 on January 1, 2019, what interest rate, compounded annually for3 years, must you earn to have $1,000 on January 1, 2022?e. Suppose you can deposit only $200 each January 1 from 2019 through 2022 (4 years).What interest rate, with annual compounding, must you earn to end up with $1,000 on January 1, 2022?f. Your father offers to give you $400 on January 1, 2019. You will then make six…You need $58000 on March 15, 2024. How much do you need to deposit each quarter in an account earning 10.25% compounded quarterly if the first deposit is made on June 15, 2014 and the last deposit is made on December 15, 2023? Note: you must be within $5 of the correct answer
- It is now January 1, 2018, and you will need $1,000 on January 1, 2022, in 4 years. Your bank compounds interest at an 8% annual rate.a. How much must you deposit today to have a balance of $1,000 on January 1, 2022?b. If you want to make four equal payments on each January 1 from 2019 through 2022 to accumulate the $1,000, how large must each payment be? (Note that the payments begin a year from today.)c. If your father offers to make the payments calculated in part b or to give you $750 on January 1, 2019 (a year from today), which would you choose? Explain.d. If you have only $750 on January 1, 2019, what interest rate, compounded annually for 3 years, must you earn to have $1,000 on January 1, 2022?e. Suppose you can deposit only $200 each January 1 from 2019 through 2022 (4 years). What interest rate, with annual compounding, must you earn to end up with $1,000 on January 1, 2022?f. Your father offers to give you $400 on January 1, 2019. You will then make six additional equal…On March 1, 2021, you opened an account with a deposit of $500. You plan to continue to make $500 deposits every year until March 1, 2040, when you will make your last deposit. How much will be in the account on March 1, 2050 if the account earns 5% annually?You wish to deposit $500 dollars per year. The first deposit will be on April 1, 2017, and your last deposit will be on April 1, 2026. How much will be in the account on April 1, 2050 if the bank pays 4% annually?
- Suppose you deposit $5,000 into an account at the end of 2021, $4,500 at the end of 2022, $4000 at the end of 2023, and $3500 at the end of 2024. if the account earns 6% interest annually, how much have yoù accumulated immediately after the last payment? A $19,750 B $16,742 $18,748 $17,746It is now January 1, 2018. You will deposit $1,000 today 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, 2021?b. What would your January 1, 2021, balance be if the bank used quarterly compounding? c. Suppose you deposit $1,000 in 3 payments of $333.333 each on January 1 of 2019, 2020, and 2021.How much would you have in your account on January 1, 2021, based on 8 percent annual compounding?d. How much would be in your account if the 3 payments began on January 1, 2018? e. Suppose you deposit 3 equal payments in your account on January 1 of 2019, 2020, and 2021.Assuming an 8 percent interest rate, how large must your payments be to have the same ending balance asin part a?A person wants to be able to make monthly $500 withdrawals. If the first withdrawals is on April 1, 2021 and the last withdrawal is on December 1, 2029, then how much needed to be in the account on April 1, 2021? The account pays 5% compounded monthly