Today you have $100,000 in your investment account, which will grow by 7.5% annually. If you keep investing $600 every month, how many months does it take for your account balance to increase to $300,000? (Report an integer)
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Today you have $100,000 in your investment account, which will grow by 7.5% annually. If you keep investing $600 every month, how many months does it take for your account balance to increase to $300,000? (Report an integer)
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityUse the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.
- Suppose an investment will pay $21,000 in 29 years from now. If you can earn 11.35% interest compounded monthly by depositing your money in a bank, how much should you pay for the investment today?Today you have $100,000 in your investment account, which will grow by 7.5% annually. If you keep investing $600 every month, how many months does it take for your account balance to increase to $300,000?You decided to deposit $300 each month starting next month for the next 10 years. If your account will grow to be $100,000 by year 10, what rate of return per month are you earning on your deposits?
- You currently have $10,000 in your bank account. You will invest this $10,000 and $750 every quarter (every 3 months) for the next 15 years. What is your annual rate of return if you have $450,000 at the end of 15 years from today? O 26.84% 19.96% 25.13% O 37.59%You have $34,256.85 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $260,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Please show step by step so that I can understand.You started an investment account 10 years ago with $2100, and it now has grown to $8900. a. What annual rate of return have you earned (you have made no additional contributions to the account)? b. If the investment account earns 11% per year from now on, what will the account's value be ten years from now? a. The annual rate of return is%. (Round to two decimal places.) View an example Get more help - Clear all
- You have $58,138.29 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $240,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.You just deposited $6, 500 in an investment account and will deposit $ 5000 more four years from now. Use tabulated factor values to determine how much will be in the account 11 years from now if the rate of return is 10% per year? 11 years from now, the account will have $.You invested $2m today in an account that is expected to earn 15% annually for the next five years. As a result of this investment, the account will pay you the same amount $Y per year for the next five years, after which you will have $0 in the account. At the end of year 1, what is the balance in the account after the withdrawal of the first $Y?
