What amount must I deposit in the bank to receive $6,000 in twelve years if my account pays 3.5% compounded Monthly?

Q: How much must you deposit into an account that pays 5% each year to have a balance of $750 after 5…

A: Using PV formula we can determine what amount you need to deposit into the account today. The PV…

Q: Derek will deposit $1,169.00 per year into an account starting today and ending in year 5.00. The…

A: The FV of an investment refers to the combined value of the cash flows at a future date assuming…

Q: You deposit $63000 into an account which pays 5% compounded semiannually. How much can you withdraw…

A: Given:Principal (P) = $63,000Rate (r) for every six months = 5%Semi-Annually Rate = 5%/2 = 0.025…

Q: You deposit $10,000 in a bank that pays an annual interest rate of 6% compounded quarterly how much…

A: We need to use compound interest formula for calculation of amount after 5 years A=P(1+r)n Where…

Q: How much will you have in the account in 15 years? b) How much total money will you put into the…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: If your bank pays you 1.6% interest and you deposit $550 today, what will be your balance in five…

A: Time value of money (TVM) means that the amount of money received in the present times will have…

Q: Suppose that Jacob would like to invest at the end of each month for the next 15 years into an…

A: Ordinary Annuity refers to series of equalized payments that are made at end of period for certain…

Q: You deposit $1,700 at the end of each year into an account paying 8.6 percent interest. a. How much…

A: ParticularAmountDeposits (PMT) $   1,700.00Interest Rate (RATE)8.60%No. of Deposits (NPER)16

Q: If i deposit $1,884 per year into a savings account earning 2% interest per year, how much will i…

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

Q: How much must I deposit into an account every month to have $1,500,000 in 15 years at a rate of 7%…

A: A recurring deposit is a special type of term deposit offered by banks which help people with…

Q: you deposit $1,000 each year into an account earning 3% interest compounded annually. How much will…

A: Time value Value received today by an individual is of more worth than receiving the exact value in…

Q: INSTRUCTIONS The six steps for recording a business transaction in the general journal are shown…

A: A business transaction is an activity where two or more parties exchange goods, money, or services.…

Q: How much money would you have in savings if you kept $200 on deposit for eight years at 8%,…

A: Money Deposited now (present Value) is $200 Time period is 8 years Interest rate is 8% Compounded…

Q: I am investing $4100.00 in a bank account that pays 1.5% per year. If my interest is paid weekly,…

A: Present value, PV = $4,100 Interest rate = 1.5% per year Period = 15 yearsThe future value can be…

Q: You deposit $57000 into an account which pays 7% compounded annually. How much can you withdraw at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: in order to withdraw $200, 000 two years now, how much do you need to deposit to in a bank account…

A: Future value required=$200000Period=2 yearsInterest rate is 6%Compounding quarterly.

Q: Suppose you have $8,675,309 to deposit into a savings account for one year. The bank lets you choose…

A: Here Investor has $8,675,309 to deposit for 1 year @ 12% in two options: Compounded annually…

Q: 1. If you deposit $28,688 annually at the end of every year in a bank account paying 5% annually,…

A:

Q: You deposit $10,000 in an account earning 4% interest compounded monthly. a. How much will you have…

A: Compound Interest is the interest on a deposit or loan calculated on the initial principal and the…

Q: You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10…

A: Principal amount, P = $3,000  Interest rate, r = 1.26%  Number of compounding periods, n = 10    The…

Q: John contributes $5,000 per month into an account. How much will he have in the account after 25…

A: In the given question we require to calculate the future value of account after 25 years is john…

Q: You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at…

A: Perpetual annual withdrawal refers to the amount of repayment for n number of years forever. This…

Q: How much should you deposit in an account so that you can withdraw $5300 every year for the next 18…

A: Using excel PV function

Q: ou deposit $83000 into an account which pays 5% compounded monthly. How much can you withdraw at the…

A: You can withdraw interest forever

Q: You plan to deposit $5, 706 into a savings account paying 8% interest compounded quarterly. How much…

A: whereFV = Future value = amount at the endPV = Present value = amount deposited today = $5,706i =…

Q: How many years will it take for your money to tripple if you deposit $800 in a bank account that…

A: Individuals deposit money in a bank account with the aim that their money grows in the account to…

Q: how much interest will i earn on $200 deposited in an account that pays 5.75% interest annually if i…

A: Given that: Initial deposit amount = $200 Interest rate = 5.75% Period = 1 year

Q: How much will I need to deposit into an account to have $6,500,000 in 10 years earning 5 %…

A: The provided information are: Future value (FV) = $6500000 Interest rate (r) = 5% Number of years…

Q: If you deposit $13,.224 annually at the end of every year in a bank account paying 8% annually. how…

A: Annual deposit (D) = $13,224 Period (n) = 5 Years Interest rate (i) = 8% (or 0.08) Amount saved at…

Q: You deposit $600 in an account earning 2% interest compounded annually. How much will you have in…

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