What APR rate of interest is required to make your initial deposit of $3,813 grow to $7,006 in 15 years, when the interest rate is compounded monthly?

Q: What is the future value of a single $5,000 deposit earning 8 percent interest, compounded monthly,…

A: Formula:

Q: If you want to have $5600 at the end of 9 years, how much money you need to deposit today into an…

A: If you want to have $5600 at the end of 9 years, the money you need to deposit today into an account…

Q: If you deposit $50,000 in an account that pays an annual interest rate of 10% compounded monthly,…

A: The objective of this question is to calculate the future value of an investment given the initial…

Q: What is the present value of a $175 annual payment over 10 years if interest rates are 4 percent…

A: To compute the present value of an annual payment over 10 years at an interest rate of 4 percent, we…

Q: Interest rates are 10%. Suppose you deposit the PV (present value) of a 7 year, $5000 annuity in the…

A: An annuity is a cash flow that occurs in each period and the amount is fixed or constant.   In this…

Q: what rate compounded continuous would you earn?

A: Future Value: It represents the future worth of the current sum of amount and is estimated by…

Q: What is the future value of $1,000 in five years at 8% interest paid semi annually ? Paid quarterly?…

A: Future value is an amount reccievable in future(after certain period)  by investing today. Formula…

Q: What is the future value of $10,000 on deposit for 5 years at 6% simple interest?

A: The objective of this question is to calculate the future value of a deposit of $10,000 for 5 years…

Q: What is the future value of $2,500 deposited for one year earning a 14 percent interest rate…

A: In the given question we require to compute the future value of investment from following details:…

Q: What will be the value of these deposits 12 years later if earning 9% APR compounded annually?

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: Find the initial monthly payment on a 3/20 ARM of $178,802 if the interest rate is 5.35%. How long…

A: 3/20 means 3% discount you will get if you pay with in 20 days , if you not pay with in 20 days you…

Q: At what nominal interest rate will money double in 8 years if interest is compounded quarterly? What…

A: Solution Given Rate of interest                compounded quarterly                 =? Number of…

Q: Suppose are going to make monthly deposits into an account with an annual interest rate of [8] 2.5%…

A: For calculating the monthly deposit as ordinary annuity; the $1,000,000 amount shall be taken as the…

Q: What is the future value of $700 deposited for one year earning 4 percent interest rate annually?

A: In the given question we need to compute the future value of $700 deposited today for one year at 4%…

Q: Suppose we are going to make monthly deposits in to an account with an annual interest rate of 4.1%…

A:

Q: How much would you have to deposit today to have $10,000 in five years at 6% interest discounted…

A: Following details are given to us in the question : Future value after five years = $10000 Time…

Q: If the bank quotes a loan APR of 9% per annum, compounded monthly, what do you have to pay back in 1…

A: Compound interest= P(1+r%/n)^tn Interest rate = 9% Borrow amount= 100

Q: If you deposit $287.50 into an interest-bearing savings account today, what rate of interest must be…

A: Deposit amount = $287.5Amount after 14 years = $650.01A = P ( 1+r)nP = principal   = $287.5r = rate…

Q: What will deposits of $470.00 made at the end of each month amount to after seven years if interest…

A: FV stands for Future value which refers to value of the current asset at the future date that is…

Q: Suppose you invest $3000 in a four-year certificate of deposit (CD) that pays 1.5% interest…

A: Future value can be referred to as the value of an underlying asset or security at a future date.…

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: ou plan to make twelve monthly payments of $1000 at the end of each month in the year 2024. Given…

A: Present value is the equivalent of the future cash flow that is required in the future based on the…

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…

Q: If you invest $154 at an interest rate of 6% (annual rate) compounded annually, how much interest…

A: Interest earned is the interest which is applied on the principal. It is the interest for using…

Q: What is the future value of an annuity of 15 deposits of $6407 at the end of each year with a…

A: Step1: Calculating the future value of annuity. We have,Future value of annuity = P [(1+r)n – 1] /…

Q: If you invest $2,538.00 in an account earning an annual interest rate of 3.153% compounded…

A: Interest is the fee paid to investor for investing funds over a period of time. It is the…

Q: What is the effective interest rate for quarterly transaction if the interest rate is 5% per year…

A: When taking compounding into account, the Effective Interest Rate (EIR) is a critical financial…

Q: You can invest SGD 100,000 in fixed deposit with a bank. The term of the deposit is 6 years, and the…

A: Here, To Find: Future value (FV) =?

Q: You deposit $4000 in an account that pays 6% interest compounded semiannually. After 3 years, the…

A: Compound interest is interest computed on both the initial principal amount and any accrued interest…

Q: You decide to deposit $126 monthly in a 3.2% annual interest bearing account over the next 18 years.…

A: The future value of annuity is used to determine the value of a series of payments in future at a…

Q: Assume a 360 day year, when a 48,000, 90 day, 8% interest bearing note payable matures, the total…

A: Total payment = Note + Interest   Interest = $48,000 * 8% * 90/360 Interest = $960

Q: You want to invest a 201911130 $ in your saving account at the end of the first year and increase…

A: First Deposit = 201,911,130 Annual Increase = 1,200,000 Time Period = N = 11 years End of period…

Q: How much do you have to deposit today so that beginning 11 years from now you can withdraw ​$12,000…

A: Given, Amount that can be withdrawn from years 11 to 16 is $12000 Additional amount at end of 16 th…

Q: What amount must be deposited today, if, starting one year from today, you wish to make 15 equal…

A: Given, annual withdrawals $3,450. Number of payments 15. Interest rate is 0%.