I want all 3 specific questions to be solved in the image with their steps/ Problem 4 Find the amount needed to be invested now to accumulate the following amount if the money is compoundedas indicated.(ii) $4500 deposited at 3.6% compounded monthly to reach at least $11,000.Problem 7.●(i) If $1000 are deposited into an account paying 3% compounded annually for 5 years, how much money is in theaccount at the end of the last deposit?• (ii) If $800 are deposited into an account paying 6.51% compounded semiannually for 12 years, how much interest isearned at the end of the last deposit?Problem 8.●(i) If $10,000 is needed in 12 years, how much should be deposited at the end of each year into an ac- count paying5% compounded annually?• (ii) $150,000 is needed in 15 years, how much should be deposited at the end of each month into an account paying6% compounded monthly?

Future value refers to the sum of amount which is to be received in future which is invested in…

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Business

Accounting

ount needed to be invested r t 3.6% compounded monthly

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

I want all 3 specific questions to be solved in the image with their steps/

Problem 4 Find the amount needed to be invested now to accumulate the following amount if the money is compounded
as indicated.
(ii) $4500 deposited at 3.6% compounded monthly to reach at least $11,000.
Problem 7.
●
(i) If $1000 are deposited into an account paying 3% compounded annually for 5 years, how much money is in the
account at the end of the last deposit?
• (ii) If $800 are deposited into an account paying 6.51% compounded semiannually for 12 years, how much interest is
earned at the end of the last deposit?
Problem 8.
●
(i) If $10,000 is needed in 12 years, how much should be deposited at the end of each year into an ac- count paying
5% compounded annually?
• (ii) $150,000 is needed in 15 years, how much should be deposited at the end of each month into an account paying
6% compounded monthly?

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