You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a certain amount at the end of each of the next 7 years and deposit it in the bank. The bank pays 11 percent interest compounded annually for long-term deposits. How much will you have to save each year?

Q: You wish to save $30,000 by making $1000 deposits at the end of each month. If the bank pays 4%…

A: Dear student, we need to use NPER and FV formulas in excel to solved this problem.

Q: First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City…

A: given, first bank simple interest=6%second bank compound interest =6%p=$7500n=10 years

Q: If you deposited $5000 in a bank that offers 12% annual interest rate, if the bank compounds the…

A: Deposit=5000Annual interest rate=12%Number of years=5years

Q: You plan to put some money into an account so that for the next 4 years you can withdraw $912 from…

A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

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 $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: Suppose your bank pays 10% interest, compounded semiannually. Find out how much should be deposited…

A: Present value is the amount a person is willing to pay now, in order to get an amount for a…

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

A: Present Value is a current value of a future amount that is receivable or payable. While, Future…

Q: Assume you deposit $5,200 at the end of each year into an account paying 10 percent interest. a.…

A: deposit made at the end of each year = $5200                        interest rate annum     = 10%…

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: If you deposit $700 every year for the next 5 years, with first deposit to be made today and all…

A: Amount deposit per year = $700 Time period = 5 Years Interest Rate = 3.76%

Q: You plan to deposit $900 PER YEAR into an account earning 5.25% interest compounded annually. How…

A: Since you posted multiple questions ,we will solve the  second page last question for you. if u want…

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 goal is to have $15,000 in your bank account by the end of eight years. If the interest rate…

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

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: How much money must be deposited at the end of each year in a savings account that pays 9% per year,…

A: Compounded annually means at the end of every year, interest shall be added back to the principal…

Q: You must make a payment of $1,668.06 in 10 years. To get the money for this payment, you will make…

A: There will be 5 deposits on: 1. Beginning of Q1 2. Beginning of Q2 3. Beginning of Q3 4. Beginning…

Q: You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account…

A: Solution: The amount in account after second deposit will be the future value of first deposit and…

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 initially deposit $3,000 in to a savings account for 5 years, paying 6% compounded annually.…

A: We will first establish the timelines  We deposit $3,000 for 5 years at an interest of 6%. t0 is…

Q: After completing your Principles of Finance course, you plan to save $6,800 per year for the next 11…

A: Saving per Year = 6800 Saving Total year =11 After Saving Number of years keep in Account = 6…

Q: If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be…

A: Future value of a lumpsum deposited today can be calculated using the future value…

Q: f  you  deposit  $10,000  in  a  bank  account  that  pays  10  percent  interest  annually,  how…

A: Future value = Principal*(1+r/100) ^n Where,  r = rate of interest n = no. of years

Q: How much do you have to deposit today so that beginning 11 years from now you can withdraw 10,000 a…

A: Amount deposit today is calculated by adding the present value of all the cash flows.

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

A: Present value (PV) is the current value of future money or cash flows at a specified rate of return.…

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 deposit $4000 each year into an account earning 8% interest compounded annually. How much will…

A: given  PMT = 4000 n= 20 years i=8% FV = ?

Q: You open a bank account, making a deposit of $300 now and deposit of $1000 every other year (the…

A: Amount deposit now for 10 years = 300 Amount deposited every year from & at the end of 2nd year…

Q: how much is this account worth in today's dollars?

A: Present value: It is the present worth of the annuity cashflows discounted over a period of time.…

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 intend to accumulate RM5,713 in a bank savings account,4 years from now. How much savings must…

A: Future value = RM 5713 Period = 4 Years Annual interest rate = 10%

Q: When payments are made at the end of each period, you will treat them as    .   You are planning to…

A: Introduction: An annuity is an arrangement to receive stable income after retirement, in which a…

Q: You have set a goal to save ​$ 10000 in a savings account that earns interest at​ 2.54% compounded…

A: Annuity due are the payments which are made at the beginning of the period.

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: If P30,000 is deposited each year for 9 years. How much annuity can a person get annually from the…

A: An annuity refers to a fixed amount or stream of payments or deposits made. Therefore, it helps in…

Q: If you deposit 10000 in a bank account that pays 10% interest annually, how much will be in your…

A: The amount in the account after 5 years is future value of the deposited amount. Future value can be…

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: .A series of equal cash $200 that is deposited at the end of each month will last for 10 years. How…

A: Monthly deposit (M) = $200 n = 10 years = 120 payments r = 9% per annum = 0.75% per month

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: How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank…

A: Given details are : Present value = $1500 Time period = 12 years Interest rate = 5% We need to…

Q: You would like to have ​$53,000 in 13 years. To accumulate this​ amount, you plan to deposit an…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: You want to have 75000 in your savings account 12 years from now, and you’re prepared to make equal…

A: Given information: Amount at the end (Future value) 75000 Time Period (in years) 12 Interest…

Q: How many years will be required for a given sum of money to be 8 times the principal amount, if it…

A: Let Present value be $100 So, future value will be = $100 * 8 = $800 Rate = 7.80%

Q: Your bank will pay you an interest rate of .097 percent per week. You want to have $22,000 in 10…

A: Given: Interest rate = 0.097% Future value = $22,000 Years = 10

Q: How much money will you accumulate by the end of year 10 if you deposit $3,000 each for the next ten…

A: Annuity payment (PMT)= $3,000 Time period (n)= 10 years Rate of interest (i)= 5% per year Future…

Q: Suppose that you would like to have $25,000 to use as a down payment for a home in five years by…

A: An Annuity is a continuous flow of systematic timely cash flows made or received for a stipulated…

Q: I want to accumulate %500,000 in a savings account in 20 years. If the bank pays 6% compounded…

A: For above question, we have to calculate principle amount or present value of amount to be invested…

Q: If you need 6,000 5 years from now, how much of a deposit must you make in your savings account…

A: Future value (FV) = 6000 Number of annual payments (n) = 5 Annual interest rate (r) = 8%