Suppose you deposit $2606.00 into an account today. In 7.00 years the account is worth $3969. The account earned _% per year

Q: Jack opened an account 15 years ago and deposited $12,000 into it. The account now has $20,000 in…

A: Compound interest formula: A=P×1+rnnt where, A = final amountP = initial principal balancer =…

Q: In how many years will it take $17054 accumulate to $32133 when you deposited in a savings account…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: 1. you deposit $500 into an account that pays 4.2% interest compounded monthly. how much money will…

A: Given details are : Present value (investment today) = $500 Interest rate = 4.2% Time period of…

Q: Suppose you invest $18,860.00 into an account earning an interest rate of 2.426% compounded…

A: The worth of an asset today at some point in the future based on an estimated rate of growth is…

Q: You wish to accumulate $60,000.  You make 14 quarterly deposits into a savings account with an…

A: Amount required (F) = $60,000Number of deposits (n) = 14Quarterly interest rate (r) = 0.12Amount of…

Q: How much interest will an account earn if you deposited $605 at the end of every six months for 11…

A: Amount deposited$605Number of years11Interest rate3.50%

Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…

A: Future value of a value is the amount which the grow from the principal amount to future amount with…

Q: You put $9,000 in an account earning 3%. After 2 years, you make another deposit into the same…

A: Deposit now (P1) = $ 9000 Annual interest rate (r) = 3% Deposit after 2 years (P2) = X Balance after…

Q: You deposit $175,000 in a savings account. The APR (Annual Percentage Rate) is 6%. Calculate the…

A: Effective Annual Rate(EAR) shows net rate which an investment will yield after considering…

Q: how many years will it take $18939accumulate to $34247 when you deposited in a savings account that…

A: Future value of amount increases with interest and with increase in time period and also it depends…

Q: Suppose a bank pays you 2% annual interest compounded quarterly. You deposited $2,350. How much will…

A: Computation:

Q: If you wish to accumulate $246,000 in 17 years, how much must you deposit today in an account that…

A: Future Value = fv = $246,000Time = t = 17Interest rate = r = 15%

Q: You deposit $25,000.00 in a deposit taking institution some time ago, earning 6% monthly compounded…

A: This question require us to calculate the time period (years) required to make the investment worth…

Q: Suppose that you had deposited $125 in a bank account for each of the last 5 years. What annual…

A: Amount deposited per year is $125 Time period is 5 years Amount in account is $758.92 To Find:…

Q: Assume you make 10 equal annual deposits of $2000 into an account paying 8% per year. How much is in…

A: The amount available 6 years after the last deposit will be the future value of this annuity.

Q: how many years your money will be doubled?

A: answer :- c) n= 6.12 years given  present value PV= 10000 rate r=12% future value FV = 2*10000 =…

Q: Problem 1. Answer the following questions on recurrence relations. a) A person deposits $5000 in an…

A: A recurrence relation is an equation that defines a sequence based on a rule that gives the next…

Q: You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years.…

A: Gross amount placed in the account is simply the sum of all the payments made in the account.

Q: A man deposited P5,000 in a bank at a rate of 10% per annum for 9months and 25days. Find the…

A: Future value of deposits is the sum of all the deposits compounded using the provided discount rate.

Q: How much would you need to deposit in an account now in order to have $6,000 in the account in 8…

A: In order to solve this question one has to solve for the present value to know how much to save into…

Q: you have been depositing equal amount of $400 each year for 4 years in an account that earns 12%…

A: Future value refers to the compounded value of all future cash flows at a given rate of interest for…

Q: Your goal is to accumulate $60,000 in seven years' time.  What monthly deposit must you make into a…

A: Interest rate per month = 12%/12 = 1% per month Time period = 7 years * 12 = 84

Q: What annual rate of interest must the account earn in order to grow $11909 in 12 years?

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: If you deposit $3,500 monthly into a savings account which earns 8.25% interest rate compounded…

A: Present Value is referred to as the current value of future sum of the funds or the cash flows…

Q: How much interest will an account earn if you deposited $605 at the end of every six months for 11…

A: The objective of the question is to calculate the total interest earned on an account where $605 is…

Q: Suppose you deposited $41,000 in a bank account that pays 5.75% with daily compounding based on a…

A: The objective of this question is to calculate the future value of a deposit in a bank account with…

Q: How much money was deposited each year for 10 years if the account is now worth S500,000 and the…

A: To open the "PMT function" window - MS-Excel --> Formulas --> Financials --> PMT. To open…

Q: Suppose that ​$290,000.00 is owed on a house. The monthly payment for principal and interest at 8.0%…

A: The amount paid by the borrower on the amount owed is regarded as interest rate.

Q: A bank features a savings account that has an annual percentage rate of r = 5.8% with interest…

A: (A) n=p/yt Given t=10 years (p/y)=4 (since interest is compounded quarterly)

Q: You invest $8,500 in a savings account that pays interest of 4.8% compounded monthly. To the nearest…

A: The future value function is applied when the investor wants to know how much he/she will get after…

Q: You have been making quarterly contributions to your savings account for the last your contributions…

A:

Q: Suppose that $850,000 is invested in a savings account paying 5.25% interest per year. (Round…

A: the given information  amount = $850,000 interest rate = 5.25%

Q: JP just made a deposit of $4,321 is made today in an account earning 5.3% APR compounded annually.…

A: Data given: P=Deposit amount = $4,321  r=Rate = 5.3% APR compounded annually n= 15 years   Required:…

Q: If for the next 30 years you place $2,000 in equal year-end-deposits into an account earning 5% per…

A: Future Value of Ordinary Annuity refers to the concept which gives out the compounded or future…

Q: Seven years ago, you deposited $1000 into an account earning r = 10% APR compounded annually.  How…

A: Future value: Future worth (FV) is the sum to which an ongoing venture will develop after some time…

Q: If you deposit $3,500 into an account earning an annual rate of 11% what would your account be worth…

A: To calculate the value of account after 35 years we will use the below formula   Value after 35…

Q: You put $7,364 in the bank for 13 years at 7%. Using the Future Value of 1 Table, what factor would…

A: when the investment is made by the person or the company there is the growth in investment over the…

Q: you deposited $120 the first year in an account that earns 12% annual interest. You also increased…

A: Given:Initial deposit (P1​) = $120Annual increase (ΔP) = $200Interest rate (r) = 12% or 0.12Number…

Q: te.4 If for the next 30 years you place $2,000 in equal year-end-deposits into an account earning 5%…

A: The objective of the question is to calculate the future value of an ordinary annuity. An ordinary…

Q: Each month you put $69.60 into the bank, with an APR of 3%, how much with you have after 10 years.…

A: We will make use fo the financial calculator to calculate the FV. Inputs are: n = number of periods…

Q: Suppose that $1,000 is deposited into an account paying simple interest of 8% annually. At the end…

A: Principal Amount = p = $1000Interest Rate = r = 8%Time = t = 5 YearsExpected Future Value = $1400

Q: How much money would you need to deposit today at 16.12% annual interest compounded monthly to have…

A: Present value refers to the current value of the future cash flow. Present value can be determined…