Suppose that the parents of a young child decide to make annual deposits into a saving account, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 15th birthday. Then, starting on the child's 18th birthday (EOY), four withdrawals will be made. The sequence of the amounts of withdrawals is $2000, $2400, $2800, and $3200. If the effective annual interest rate is 8% during this period, what are the annual deposits in years 5 through 15? Use a uniform gradient amount in your solution and support your work by drawing the cash flow diagram. Draw the cash flow diagram and solve the problem. Upload your answer in the moodle. Answer:

You plan to deposit $5,500 at the end of each of the next 15 years into an account paying 11.3 percent interest. a. How much money will you have in the account in 15 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 30 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value of 15 deposits b. Future value of 30 deposits

If you borrow $30,000 from a bank for 7 years at an interest rate of 8.5%, how much will you owe in balloon payment at the end of the loan's term? This is a balloon loan with all payment due at the end. Round to the nearest dollar. Type your numeric answer and submit

You want to be able to withdraw $4500 from an account at the end of each 6-month period (that is, twice a year) for the next 11 years.  How much money should you invest now into an account earning 4.1% interest per year, compounded every 6 months, in order to fund the desired withdrawals?  Assume the account is empty after the last withdrawal is made. Give the answer correctly to 2 decimal places. The amount to invest now is ______ dollars.

Anna borrows 188000 from a bank for a term of 21 years. The loan is to be repaid by level annual repayments, paid in arrears, and the interest rate is 5% per annum effective. Calculate the capital outstanding immediately after the 6th payment. Give your answer to two decimal places.

You borrow 112000 for 10 years from a bank in order to renovate your flat. The effective interest rate charged by the bank is 7.6% per annum. The loan is to be repaid by level annual repayments, paid in arrears. Calculate the annual repayment. Give your answer to two decimal places.

Nick set up a savings plan with CIBC whereby he deposits $337 at the end of each quarter for 4 years. Interest throughout the 4-year time period is 1.58% compounded quarterly. The amount in his account at that time will become a term deposit withdrawable after a further 9 years, where interest changes to 4.58% compounded semi-annually. Calculate the total interest earned on the investment. Round your answer to the nearest dollar. Full solution to this problem required.

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?