Scott deposits $5,000 at the end of each year into an account for five years. Assuming 6% interest annually, what is the value of his account in five years? Multiple Choice None of these $30,100 $67,060

Q: Abdullah deposits OMR 23550 at the end of every year for 4 years and the deposit earns a compound…

A: Individuals save for the future using various financial instruments that provide returns as per…

Q: avid deposits $2,000 per year at the end of the year for the next 20 years into an IRA account that…

A: The concept of time value of money will be used here. As per the concept of time value of money…

Q: Dylan deposits $10,000 now and makes an additional deposit of $5,000 at the end of Year 3 in the…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

Q: An individual wishes to deposit a certain quantity of money now no that at the end of five years he…

A: We can solve this problem by using the formula for compound interest: A = P(1 + r/n) (nt) where: A =…

Q: Scottie wants to accumulate $30,000 for a down payment for a house. He can only afford to set aside…

A: Future value needed = $30,000Payment = $300 every half year (i.e semi annually)Interest rate = 7.5%…

Q: ack buys a a car from a chant who offers P 748,000.00 at the end of 5 years. Jack wishes to pay…

A: As per the honor code of Bartleby we are bound to give the answer of first three sub part, please…

Q: An investor deposits $49,000 at 7% interest compounded annually. Two years after she makes the first…

A: Future value is that amount which will be required to paid at some specified period of time. It…

Q: Priscilla deposits $200 at the end of each month for seven years at 5% interest compounded monthly.…

A: Future Value = R [ (1+i)n - 1]i   where, R = Monthly deposits n = Number of months i = Interest Rate…

Q: Jack deposits $3,000 a year a 4% interest. In how many years will he have $50,000?

A: In the given problem we require to calculate the time period in which we have $50000 if we deposit…

Q: TIME VALUE OF MONEY In purchasing a lot, Steve agrees to pay $10,000 cash and $5,000 at the end of…

A: Since, payment is made at the end of each quarter so it is the case of ordinary annuity and as per…

Q: Philip wants to have P10,200 for his traveling expenses four years from now. How much munt he save…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Kyler deposits $225 each month into an annuity at 6.2% annual interest for 25 years . At the end of…

A: Solution:- When an amount is invested somewhere, it earns interest on it. The amount initially…

Q: Jason owes $42000 due at the end of 3 years with interest at j4 = 2.5%. In order to payoff the loan…

A: In this financial scenario, Jason has a loan obligation of $42,000 due at the end of 3 years with an…

Q: Taylor deposited $600 at the end of every three months into an investment for the past 5 years. The…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: Shiraz deposited $500 at the end of each year for 18 years in a savings account. If the account paid…

A: Using the Future value function in excel

Q: Martha receives $100 on the first of each month. Stewart receives $100 on the last day of each…

A: In finance, the concept of the time value of money is crucial, emphasizing that the value of money…

Q: urrent Attempt in Progress Charlie has $8,000 to invest for a period of 5 years. The following three…

A: Data given: Investment amount = $8000 n=5 years   Formula to be used: Future value=Principal *…

Q: o-Fast invests $20,000 in a certificate of deposit that mature safter 7 years and pays 9 percent…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: effrey deposits $406.00 every month into his son's RESP for the next fifteen years unti his son goes…

A: Future value of deposit includes the amount being deposited and compounding interest accumulated…

Q: Kelly Malone plans to have $46 withheld from her monthly paycheck and deposited in a savings account…

A: Time value of money is a concept where interest component for the time period money taken is…

Q: A man wishes to have 280,000.00 when he retires 15 years from now. If he can expect to receive 4%…

A: Annual Interest rate is 4% Type of annuity is begining of year Future Value is P 280,000 Time period…

Q: An annuity-immediate Jeremy purchases the annuity for $15,000. Calculate the nominal interest rate…

A: First we need to use RATE function in excel to calculate interest rate convertable quartely on…

Q: Peter just borrowed a $50,000 business loan from the  bank at 5% annual interest. He must repay the…

A: Given, Loan borrowed is $50,000 Interest rate is 5% Term of loan is 5 years.

Q: Daniel deposits $2,000 per year at the end of the year for the next 15 years into an IRA account…

A: Each Year Deposited Amount (PMT) = $2,000 Number of Period (n) = 15 years Interest rate per period…

Q: A man buys a house for $285,000 with a $60,000 down payment and takes out a mortgage at 7.5% for 15…

A: The PV of an ordinary annuity is the value today of a series of equal payments made at the same…

Q: Mr. Joe  takes a loan P amount from the bank. The loan attracts an interest of 1.5% per month…

A: future value = present value×ert where, r=rate of interest t=time in years

Q: Anna receives $1,000 on the first of each month. Josh receives $1,000 on the last day of each month.…

A: Present value of the annuity is the present value of streams of periodic cash flows that occur at…

Q: Larry Davis borrows $87,000 at 11 percent interest toward the purchase of a home. His mortgage is…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: . Leo invested $67 250 into an annuity earning 4.4% compounded semi-annually. How much is he able to…

A: A series of fixed payments that are paid or received at an equal time interval is term as the…

Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…

A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…

Q: Question: Robert is repaying a debt with 19 annual end-of-the-year payments of $1,000 each. At the…

A: Step 1: Calculating a Loan Refinance AmountGiven a loan that is being repaid with regular, equal…

Q: IRAs If a merchant deposits $1500 at the end of each tax year in an IRA paying interest at the rate…

A: Amount saved in 20 years is future value of yearly deposits  calculated using fv function in excel

Q: A man deposits ​$19,000 at the beginning of each year for 9 years in an account paying 6​%…

A: Future value refers to the method of time-value of money used for calculating the value of the…

Q: To help buy his new townhome, Bill is taking out a s163,000 mortgage loan for 30 years at 3.4%…

A: Here, Loan amount = $163,000 Rate of interest = 3.4% Number of year = 30 years Monthly payment of…

Q: Fritz Benjamin buys a car costing $14200. He agrees to make payments at the end of each monthly…

A: An amortization schedule is a complete table of periodic loan payments, showing the amount of…

Q: Retirement Mr. Lawrence invests $600 at the end ofeach month in an account that pays 7%,…

A: Future value: It can be defined as the value of an investment or any asset at a specified future…

Q: If you deposit $2,000 into an account at the end of each of the next 40 years, at 4.5% interest, how…

A: It can be solved using  In excel FV (rate, nper, pmt, [Pv], [type]) Rate The interest rate for the…

Q: Approximately how long will he take to pay off the loan under these​ conditions?

A: Information Provided: Time = 5 years Interest rate = 6.5% Present value = $62,000 Additional payment…

Q: John bought a car with cash value of P15,294 on the installment plan under the following terms:…

A: Annuity:  An annuity is the series of payments which is received or paid for a certain period of…

Q: Angela deposits $1500$⁢1500 into an account with an APR of 2.2%2.2% for 1111 years. Find the future…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: To help purchase his new minivan, Eric is taking out a $17,000 amortized loan for 6 years at 5.9%…

A: The periodic payment on the loan is made to repay the loan. The periodic payment decreases the…

Q: At age 26, you start an IRA to save for retirement. You deposit $125 at the end of each month. If…

A: Annuity refers to a stream of constant periodic cash flows. For instance a cash flow of $100 each…

Q: Faith saves for retirement by depositing $550 each month into an account which earns an APR of 3.5%…

A: The amount invested in financial instruments at a specified APR could be compounded at any frequency…

Q: Alyssa has $800,000 saved for retirement in an account earning 2.2% interest, compounded quarterly.…

A: The Present Value of Ordinary Annuity refers to the concept which gives out the discounted or…

Q: Hui deposits $800 at the end of every 3 months in an RRSP that is earning 5.10% compounded…

A: The nominal interest rate when compounded more than once in a year then it needs to be adjusted by…