You deposit $66000 into an account that pays 7% compounded monthly for 8 years. you want to be able to withdrawal 108 times what are the size of the withdrawals you can make?

Q: Suppose you have $60,000 in a savings account earning 2%. You would like to make equal quarterly…

A: The time value of money is a concept in finance that evaluates the worth of the securities that cash…

Q: You deposit $62000 into an account which pays 3% compounded monthly. You leave the money in the…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: You want to be able to withdraw $3,000 each month for 25 years. Your account earns 9% interest. How…

A: Given Information: Monthly withdrawal = $3,000 Time period = 25 years Interest rate = 9%

Q: need $20,000 five years from now. The account pays 9% compounded annually. If you will receive…

A: Present value is the equivalent value today of the future cash flow based on the time and interest…

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 $3000 in an account earning 7% interest compounded monthly. How much will you have in…

A: Data given: PV=$3000 I=7% (compounded monthly) N=15 years   Working Note#1 Computation of monthly…

Q: You decide to make regular deposits every 2 weeks into an account that earns 5% annual interest,…

A: The future value of the deposits is $29,000. The annual interest rate is 5%. The maturity period is…

Q: You deposit $23,000.00 in an account that pays 4% compounded annually and immediately start making…

A: In this question future value would also be find out so that payment per year can be find out.

Q: You deposit $24,000.00 in an account that pays 6% compounded quarterly and immediately start making…

A: In this problem you have to find out present value FACTOR and find out quarterly deposits.

Q: You deposit $64000 into an account which pays 5% compounded monthly. You wish to make semiannual…

A: Amount that can be withdrawn from account depends on the period of withdrawal and interest rate of…

Q: You deposit $90000 into an account which pays 4% compounded semiannually. You wish to make…

A: present value of annuity=A×1-11+rmm×nrmwhere,A=annuityr=rate of interestm=frequency of…

Q: mpounded monthly. You plan to put $1,000 per year over the next 2 years as well.  How much will you…

A: To determine the value of the bank account, we need to determine the effective annual rate given the…

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: You deposit $200 each year in an account for 15 years and then $400 each year in the same account…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: Your bank account pays an interest rate of 6 percent, but this interest is compounded daily (use…

A: Interest rate on account = 6% (compounded daily) Amount A = P(1 + r/n)nt Where A = amount P =…

Q: How much money would you need to place in an account to have $1,000 10 years from today? Assume the…

A: The formula used as follows: Present value=Future value1+innt

Q: You will deposit $2,000 per year for the next 10 years. Then, you will start drawing money out of…

A: Future value is the value of the present cash flows in future. Investor will deposit same equal…

Q: You have a balance of $8,000 on your credit card.  The interest rate is 19% per year.  You want to…

A: Solution:- When an amount is due for repayment, it can either be repaid as a lump sum payment or in…

Q: You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't…

A: using excel fv function

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: Starting in 6 years you want to be able to withdraw P5,940 every 3 months for 12 years. You want to…

A: Interest rate = 2.08% monthly compounded Amount to withdraw every 3 months (X) = P 5940 Number of…

Q: you have been depositing equal amount of $400 each year for 4 years in an account that earns 12%…

A: Future value refers to the compounded value of all future cash flows at a given rate of interest for…

Q: You deposit $1,000 in an account earning 9.3% interest compounded daily . How much will you have in…

A: Future value refers to the monetary value of an investment at a specified future date. It is the…

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: ou deposit $300 in an account earning 6% interest compounded annually. How much will you have in the…

A: Amount Deposited = $300 Interest Rate(r) =6% Years(N) =10

Q: If you borrow $24398 with an annual rate of 9% compounded monthly and make a payment of $282 every…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: You deposit $1,000 today and want to save $100 each month beginning one month from today. Your…

A: We have to find the number of periods it will take to reach a target accumulated value, starting…

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: You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: Interest rate = 5% Present value = $4,000 Period = 10 years

Q: the amount a person would need to deposit today to be able to withdraw $6,000 each year for 10 years…

A: A series of fixed regular periodic deposits/withdrawals is recognized as an annuity. The annuity…

Q: You decide to save $7700 by making monthly deposits for 9 years into an account which pays 7%…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: How would you need to deposit in an account now in order to have $3000 in the account in 5 years?…

A: Given, Future Value = $3000 Time period = 5 years  Interest rate = 7% Compounding =  monthly

Q: You wish to save $58000 in an account which pays 7% compounded quarterly by making monthly deposits…

A: Given:   Expected value in the account in future  $58,000.00 Interest rate per year 7%…

Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…

A: When a principal amount grows with interest over a time period, it is known as the future value.…

Q: need $20,000 five years from now. The account pays 9% compounded annually. If you can receive…

A: Present value is the equivalent value today of the future cash flow based on the time and interest…

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 deposit $87000 into an account which pays 4% compounded quarterly. You leave the money in the…

A: Compound = Quarterly = 4Present Value = pv = $87,000Interest Rate = r = 4 / 4 = 1%Time = t = 10 * 4…

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 will need $46000 for a down payment on a house in 9 years. How much should you deposit in a…

A: Present value refers to the  current worth of the amount that is expected to be received in future…

Q: I want to be able to withdraw $4,200 each month for 30 years. My account earns 7% interest. How much…

A: Present value of annuity formula will be used to calculate the amount required at beginning to…

Q: You deposit $78000 into an account that pays 5% compounded quarterly. You leave the money in the…

A: Computation:

Q: You deposit $27,000.00 in an account that pays 4% compounded annually and immediately start making…

A: Given:

Q: interest

A: Formula to calculate the annual deposit A(F/A, i, n)(F/P, i, n)

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: FV is the future value (in this case, $10,000),P is the monthly deposit,r is the monthly interest…

Q: You deposit $35,000.00 in an account that pays 6% compounded quarterly and immediately start making…

A: Amount Deposited = $ 35,000 Rate of Interest = 6% compounded quarterly