You deposit $2000 in an account earning 8% interest, compounded quarterly. How much will you have in the account after 11 years? Round your answer to the nearest cent.
Q: What is the future value of a single $5,000 deposit earning 8 percent interest, compounded monthly,…
A: Formula:
Q: You put $1, 000 into a savings account today that offers a 5% APR with semi-annual compounding…
A: Interest rate is the rate that is charged on the money (Principal) lent by the lender to the…
Q: You make two annual payments of $2,000 each (the first payment is made one year from today) into a…
A: Number of annual payments (N) = 2 Payment = 2000 Interest rate = 10%
Q: How much will accumulate in an account with an initial deposit of $100, and which earns 10% interest…
A: Future value can be referred to as the value of an underlying asset or security at a future date.…
Q: You deposit $1000 each year into an account earning 6% interest compounded annually. How much will…
A: Future value of any deposits made is equivalent to the compounded value of deposits made for all the…
Q: Assume you make 10 equal annual deposits of $2000 into an account paying 12% per year. How much is…
A: Periodic payments can be made monthly, quarterly, half-yearly or annually. In the given question,…
Q: You deposit 54000 in an account that pays 6% interest compounded semiannually After 4 years the…
A: First, calculate value after 4 years: Future Value (End of 4 years)=Deposit×1+Interest…
Q: You deposit $4000 in an account earning 8% interest compounded monthly. How much will you have in…
A: Given information ; P = 4000 r = 8% or 0.08 Compounded monthly so n = 12 t = 15 years
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: If you deposited $18000 and the bank is paying 7% interest compounded monthly, how much would be…
A: We know that the formula to calculate the accumulated value of cash flow is C*(1+r)n, where C is the…
Q: You deposit $4000 each year into an account earning 4% interest compounded annually. How much will…
A: Future value of annuity = Annual payment x [(1 + i)n - 1]/i i = Interest rate n = number of years
Q: If you deposit $8700 today in an account that pays 8.5% per year, compounded quarterly, how much…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: If you deposit $6800 today in an account that pays 5.0% per year, compounded quarterly, how much…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: If you wish to accumulate $140,000 in 13 years, how much must you deposit today in an account that…
A: The provided information are: Future value (FV) = $ 140000 Time period (n) = 13 years Interest rate…
Q: A person wants to deposit $10,000 per year for 6 years. If interest is earned at the rate of 10…
A: We need to use future value of annuity formula to calculate amount after 6 years FVn =PMT(1+i)n -1i…
Q: IF you deposit $300 each quarter into an account earning 3.2% compunded quarterly, how many years…
A: Quarterly payment (PMT) is $300. Annual rate of return is 3.2% and Rate of return per quarter is…
Q: If you deposit $500 in a savings account that offers3 percent interest, compounded annually, and…
A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
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: A bank is offering 10% compounded quarterly. If you put $200 in an account, how much will you have…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: Suppose you deposit $1,250 at the end of each quarter in an account that will earn interest at an…
A: Computations as follows: Hence, the amount available at the end of four year is $24,225.28.
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: You deposit $3000 each year into an account earning 5% interest compounded annually. How much will…
A: An Annuity is a continuous flow of systematic timely cash flows made or received for a stipulated…
Q: Find the future value of $300 deposited at the beginning of every year, for 15 years if the bank…
A: The series of cash flows discussed here is a form of an annuity due wherein an equal amount is paid…
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: You deposit $4000 in an account earning 3% interest compounded monthly. How much will you have in…
A: The amount after 10 years will be the future value of the initial deposit.
Q: You borrow $11,000 and promise to make payments of $3,359.50 at the end of each year for 5 years.…
A: The question gives the following information:
Q: The bank is paying 9% interest compounded quarterly. If you deposit P5,000 at the beginning of each…
A: Interest rate (r) = 9% per annum = 2.25% per quarter Quarterly deposit (Q) = P 5000 n = 10 years =…
Q: How much must be deposited at the beginning of each year in an account that pays 7%, compounded…
A: Here, The future value is FV i.e $28,000 The rate of interest is r i.e. 7% The maturity is n i.e 10…
Q: If you deposit 2500 into an account paying 11% annual interest compounded quarterly, how long until…
A: The number of years: An initial investment grows to a certain given amount at a specified interest…
Q: You invest $4,000 in an account that pays a fixed annual rate of 6% interest compounded yearly. How…
A: In the present question we require to calculate the future value after 7 years from the following…
Q: You deposit $1000 each year into an account earning 6% interest compounded annually. How much will…
A: Ordinary Annuity is way of payment where payment happens at the end of each period.
Q: You deposit $5000 at the beginning of each year into an account earning 3% interest compounded…
A: Introduction: Annuity Due: It refers to the series or stream of equal payments made at the beginning…
Q: You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much…
A: Amount Deposited Each month is $100 Interest rate is 4% Compounded monthly Time period is 15 years…
Q: You make deposits of $300 each year for the next 17 years at 5 % compounded annually. How much is in…
A: Annual deposit (P) = $300 Interest rate (r) = 5% Period (n) = 17 Years
Q: You plan to make 15 annual deposits in a saving account that pays 6% interest compounded annually.…
A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per periodn = no. of compounding…
Q: If you contribute $1000.00 into an RRSP every six months for fifteen years and interest on the…
A: GIVEN, pmt =$1000 NPER = 15 X 2 =30 RATE = 8%2=4% PV=0
Q: You deposit $3000 in an account that pays 88% interest compounded semiannually. After 33 years,…
A: Amount deposited, P = $ 3,000Future value of P deposited in an account offering annual interest rate…
Q: You deposit $1000 each year into an account earning 4% interest compounded annually. How much will…
A: The future value is the amount that will be received at the end of a certain period. In simple…
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: You put $1,000 into a savings account today that offers a 55% APR with semi-annual compounding…
A: GIVEN, PV = $1000 N = 2 M = 2 (SEMI ANNUAL) R=55%
Q: You deposit $350 each month into an account earning 3% interest compounded monthly. a) How much will…
A: Given, Deposit amount (C) = $350 each month Timer period (n) = 35 years*12 = 420 interest rate (i) =…
Q: You deposit $3500 in an account earning 2% interest compounded quarterly. How much will you have in…
A: Deposit amount (P) = $3500 Interest rate = 2% Quarterly interest rate (r) = 2%/4 = 0.50% Period = 18…
Q: If you initially invest $3500 in an account that earns 4.7% interest compounded daily, how much will…
A: Initial investment (PV) = $3500 Interest rate (r) = 4.7% Number of compounding per year (m) = 365…
Q: You deposit $300 each quarter into an account earning 5.8% interest compounded quarterly. a) How…
A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…
Q: You deposit $3000 each year into an account earning 8% interest compounded annually. How much will…
A: Future value of annuity is used to calculate the value of streams of cash flows in future at a given…
Q: You deposit $200 each month into an account earning 8% interest compounded monthly. Round to the…
A: Answer b) Total amount put by us in account: = Amount monthly invested * 12 * number of years =…
Q: You deposit $3000 in an account earning 3% interest compounded monthly. How much will you have in…
A: Given:Deposit amount=$3000Rate=3% interest compounded monthly.To compute:Amount in account after 15…
Q: You deposit $4000 in an account earning 2% interest compounded daily. How much will you have in the…
A: Given, Deposit amount = $4000 Interest rate = 2% Compounding = Daily
Q: You deposit $6000 in an account earning 6% interest compounded monthly. How much will you have in…
A: Computation as follows:
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Solved in 3 steps
- 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.
- You put $600 in the bank for 3 years at 15%. 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 third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?You deposit 200$ each month into an account earning 8% interest compounded monthly. Round to the nearest vent as needed. How much will you have in the account in 25 years? How much total money will you put into the account? How much total interest will you earn?
- You deposit $5000 each year into an account earning 6.8% interest. How much will you have in the account in 15 years? Round your answer to the nearest cent as needed.You deposit $320 each month into an account earning 2% interest compounded monthly. Use the TVM Solver on the TI calculator. Round to the nearest cent (two decimal places). a) How much will have accumulated in the account in 20 years? $ b) How much money will you have deposited in the account during this time? $ c) How much of the amount in the account will be interest?If you deposit $250 into an account that earns 4.8% interest compounded monthly, How much will you have in the account 30 years from now ? What is the interest earned on the account ?
- You plan to deposit $5, 706 into a savings account paying 8% interest compounded quarterly. How much will be in your account - assuming no withdrawals - after three years?How much will accumulate in an account with an initial deposit of $100, and which earns 10% interest compounded quarterly for three years? Round to the nearest cent and show your work.You would like to have $20,000 in your account after 10 years. What must you deposit now in an account offering 5% annual interest compounded quarterly. Round your answer to the nearest dollar.