You initially deposit $3,000 in to a savings account for 5 years, paying 6% compounded annually. Starting 6 years from now, you were able to deposit an annual amount of $500 each year for 8 years in to the savings account, and the interest rate rises to 9% compounded semi-annually. What is the balance in the account at the end of 13 years?

Q: A person plans to make equal monthly deposits into this account for 20 years at the rate of 6%…

A: Present Value of annuity refers to the value of regular cash flows or payments at equal intervals at…

Q: You have just deposited $5,000 into an account that promises to pay you an annual interest rate of…

A: Amount of deposit=$5000Interest rate=5.3%Number of years=10

Q: You currently own three term deposits of $2,000 each. The first was bought five years ago, pays 6.5%…

A: Investment is made to earn the interest on invested amount so that the value of money can be…

Q: You deposit $2,500 at the end of the year (k = 0) into an account that pays interest at a rate of 7%…

A: Saving Account is a deposit facility offered by commercial banks to their customers which gives them…

Q: suppose that you would like to save $20,000 over 5 years to use as a down payment for a house by…

A: Computation of monthly deposit:Hence, the monthly deposit into the account is $301.66 per month.

Q: If you deposit $9,000 in a bank account that pays 10% interest annually, how much will be in your…

A: Calculate the future value as follows: Future value = Amount * (1+ rate)^ years

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: How much (in $) would the account be worth after 10 years?

A: Note: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: enny puts $200 into a savings account today, the account pays an annual interest rate of 5%, but…

A: PV = 200, N = 1, rate = 5%/2, PMT = 0 use FV function in Excel balance in the account after 6 months…

Q: Assume you placed RM25,000 in a savings account that pays an annual compound interest of 8% for 3…

A: Solution: With the Time value of money concept (Future value) we will be calculating amount of money…

Q: As part of your retirement plan, you have decided to deposit $9,000 at the beginning of each year…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub- parts…

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 plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3…

A: Solution- Given that P=$4900 r=11.3% n=15 years Future value of Annuity- =P * [ (1+r)^n -1] /r

Q: Suppose that a person deposits $500 in a savings account at the end of each year, starting now, for…

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

Q: You want to be able to withdraw $8500 from an account at the end of each 6-month period (that is,…

A: Given that;Periodic withdrawal amount is $8500Interest rate is 2.9% per year

Q: As part of your retirement plan, you have decided to deposit $9,000 at the beginning of each year…

A: Note:- “Since you have asked multiple questions, we will solve the first question for you. If you…

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: 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 want to be able to withdraw $1,000 from a savings account at the end of year 1, with withdrawals…

A: The present value of a growing annuity is the current value of an annuity which is growing at a…

Q: As part of your retirement plan, you have decided to deposit $6,000 at the beginning of each year…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Imagine that you deposit \$6,000$6,000 a year, starting one year from today, for four years into a…

A: We need to use future value of ordinary annuity(payment due at end of period) formula to get money…

Q: You think you will be able to deposit $4,000 at the end of each of the next three years in a bank…

A: Annuity  An annuity is the series of payments which is received or paid for a certain period of…

Q: You put $1,000 into a savings account today that offers a 5% APR with semi-annual compounding (i.e.,…

A: Compound the money invested provides the future value of an investment.

Q: Suppose that $10,000 is deposited into a saving account that earns 6% interest, compounded annually.…

A: Present Value of deposit (PV)=$10,000 Rate of interest (i)=0.06   Future Value after 5 years=…

Q: Suppose that you deposit $7000 in a savings account that pays 4% annual interest, with interest…

A: future value can be calculated from present value using interest rate and given period of savings in…

Q: You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a…

A: Time Period = 7 years Future Value Required = 80,000 End of period deposits Interest Rate = 11%…

Q: As part of your retirement plan, you have decided to deposit $9,000 at the beginning of each year…

A: Since you have asked a question with multiple sub-parts, we will solve the first three questions for…

Q: You plan to deposit $100 at the end of every quarter (3 months) for 8 years starting at the end of…

A: Quarterly deposit (Q) = $100 Number of deposits (n) = 8 years = 32 quarters r = 8% per annum = 2%…

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: Assuming you will be able to deposit $6000 at the end of each of the next four years in a bank…

A: Future Value of Ordinary Annuity refers to the concept which gives out the compounded or future…

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

A: Computation:

Q: You think you will be able to deposit $4,000 at the end of each of the next three years in a bank…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: You are planning for your future by depositing lump sum into a time deposit account, what amount…

A: Annuity is a series or level of cash flows that occur at the particular time periods.  It is the…

Q: You plan to invest an amount of money in a five-year certificate of deposit (CD) at your bank. The…

A: future value formula: future value=present value×1+rmm×n given, r=12% n=5 years fv=$7500 m=4…

Q: A.) A man has deposited $50 000 in a retirement income plan with a local bank. This bank pays 9% per…

A: The requirement is to find the annual withdrawal. This amount will be the same for all 12 years. The…

Q: You deposit $76000 into an account that pays 5% compounded annually. You leave the money in the…

A: Time value tells that the money received today is of more value than that of receiving the exact…

Q: How much money should be deposited annually in a bank account for five years if you wish to withdraw…

A: We required for calculating an amount for 5 years from this time. Then, we need to determine the…

Q: You decide to save $9300 by making annual deposits for 5 years into an account that pays 7%…

A: Given:   Amount to be saved  9300 Number of annual deposits 5 Time of withdrawal in years 7…

Q: You plan to make five deposits of $1000 each, one every 6 months, with the first payment being made…

A: "In case when multiple questions are posted we will answer the first question when no other question…

Q: You deposited $250 in the bank for 5 years at 12%. If interest is added at the end of the year, how…

A: Interest is the addition in the value deposited in the bank. It can be simple or compound for the…

Q: You deposit $66000 into an account which pays 7% compounded monthly. You leave the money in the…

A: Deposit amount =$66,000 Rate of interest (i)=7%12=0.005833 Duration (n)=8*12=96 periods

Q: You will be able to deposit $4,000 at the end of each of the next 5 years in a bank account paying…

A: We need to use future value formula to calculate future value of single deposit and future value of…

Q: You deposit $63000 into an account that pays 5% compounded monthly. You leave the money in the…

A: Future value (FV): It is the worth of any current asset at any future time with respect to an…

Q: Under your six-year savings plan, you deposit P1,000 now and P1,000 at the end of the fourth year,…

A: Future value is a value of an investment or asset on a specific date in the future. Compound…

Q: Starting in 3 years, you want to be able to withdraw P7,308 every three months for 8 years. You want…

A: Quarterly amount to withdraw (Q) = P 7308 n = 8 years = 32 quarters Interest rate = 5.25% monthly…