Suzana would like to accumulate RM5,000 in 3 years in a saving account which pays 6% annual interest compounded monthly. How much should she saves every month if she makes her deposit: (a) At the end of each month. (b) At the beginning of each month. (c) At the end of each month, with the last payment to be made 6 months before 3 years.

Suzana would like to accumulate RM5,000 in 3 years in a saving account which pays 6% annual interest compounded monthly. How much should she saves every month if she makes her deposit: (a) At the end of each month. (b) At the beginning of each month. (c) At the end of each month, with the last payment to be made 6 months before 3 years.

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

See similar textbooks

Similar questions

Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
Derek will deposit $1,169.00 per year into an account starting today and ending in year 5.00. The account that earns 7.00%. How much will be in the account 5.0 years from today?
Vilma wants to have P350,000 at the end of 5 years by making a regular deposit at the end of each quarter in an account that pays 9.6% interest, compounded every 3 months. a. Find the amount of quarterly deposit. | b. Find the accumulated amount in the account after the 15th deposit. P
Tess wanted to have P100,000 on her bank account at the end of 8years. She plans to deposit an amount at the beginning of each month at an interest rate of 3.5% compounded quarterly.a.What is her monthly deposits?b.What is the present worth of these deposits?
Maria wants to have ₱750,000.00 at the end of 4 years for hergraduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly.a.) What is the monthly rate?b.) How many total deposits?
Laura wants to accumulate P150,000 in her bank account by depositing P1000 at the beginning of each month. If interest on the account is 10% compounded semi-annually, for how long does Laura have to deposit the money?a.)7.5 Yearsb.)9.8 Yearsc.)6.6 Yearsd.)8.2 Years
PLEASE ANSWER IT ASAP FOR AN UPVOTE. I NEED IT NOW. 3. Karen deposits P100 at the beginning of each month into an annuity that pays a 6% annual interest at the end of each year. How much will she have in this account at the end of 5 years? (
Tanya deposits ₱1,500 at the end of each quarter in her savings account. If the account earns 6.75% compounded quarterly, how much money will she have in 5 years?
At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an Annuity) Suppose your opportunity cost (interest rate/year) is 11% compounded annually. How much must you deposit in an account today if you want to pay yourself $230 at the end of each of the next 15 years? How much must you deposit if you want to pay yourself $230 at the beginning of each of the next 15 years? Bruce invested $1,250 (present value - enter as a negative number) 10 years ago. Today, the investment is worth $3,550 (future value). If interest is compounded annually, what annual rate of return did Bruce earn on his investment? (Use Solving for r - Rate of Return- on a Lump Sum) Mario wants to take a trip that costs $4,750 (future value), but currently he only has $2,260…
If a woman deposits P500 every 6 months for 7 years, how much will she have in her account after she makes her last deposit if the interest rate is 20% per year compounded quarterly?
Maria wants to have ₱750,000.00 at the end of 4 years for her graduation expenses. She plans to deposit a certain amount at the end of each month to achieve this. Her bank pays 15% compounded monthly. Which of the following refers to the monthly rate? Which of the following refers to the total number of deposits?
Julie deposits $600 at the end of each month into her savings account. If the amount earns 5.25% compounded monthly, how much money will she have in 6 years?