You need to have $50,000 in a bank account 28 years from today. Assume APR is 12% and monthly compounding. How much money must be in the account 6 years from now assuming no other deposits or withdrawals? $4,132.12 $2,093.46 $3,709.32 $3,615.16 $5,836.23

You need to have $50,000 in a bank account 28 years from today. Assume APR is 12% and monthly compounding. How much money must be in the account 6 years from now assuming no other deposits or withdrawals? $4,132.12 $2,093.46 $3,709.32 $3,615.16 $5,836.23

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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You deposit $2,000 in an account today earning 8% per year. Five years from today, you make another deposit. After 20 total years from today, you have $28,354.93 in the account. What was the amount of that deposit in year five? Round to the nearest dollar, use the $ symbol and comma if necessary.
how much should you deposit in a bank paying 2% compounded quarterly to accumulate an amount of 80,000 in 5 years and 9 months ?
you deposit $5,000 in a bank t years ago. Your current account balance is $8,200, and the bank compounded intrest monthly at an intrest rate of 3.5%. how long ago did you deposit the money? that is, find t. round your answer to the nearest tenth of a year.
You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to withdraw $108 in the sixth month and increase your withdrawals by $15 over the previous month's withdrawal. How much should you deposit now in a bank account that pays 12% per year compounded monthly? Enter the answer with two decimal places. Do not enter the dollar
How much would you have to deposit into a bank at the beginning of every 6 months to have a total of $10 000 in 8 years if interest is 7% compounded quarterly? $459.47 $475.15 $625.00 $475.69
You will deposit money into a bank account according to the following schedulet today year from today $225,000 $53,500 years from today years from today $49,750 4 $21,200 years from today $112,050 After 6 years from today, what will be the purchasing power of the money in your bank account, expressed in today's dollars? Your bank pays interest at 2.5000% compounded yearly and inflation is expected to be 1.1250% per year.
You plan to withdraw the amounts given below over the next five years from a savings account that earns 9% interest compounded annually, how much do you need to deposit now? End of Year 1 $0.00 Year 2 $24,000.00, Year 3 $14,000.00 Year 4 $26,000.00 Year 5 $42,000.00
You deposit $2,400 each year in an account bearing 4.2% annual interest, with the first deposit made upon opening the account. What will your balance be after 11 total deposits, that is, after 10 years? (Round your answer to the nearest cent; no labels please!) $4
Find the equivalent present worth of the cash receipts in the accompanying diagram, where i = 8% compounded annually. In other words, how much do you have to deposit now (with the second deposit in the amount of $1,000 at the end of the first year) so that you will be able to withdraw $600 at the end of the second year through the fourth year , and $ 800 at the end of the fifth year , where the bank pays you 8% annual interest on your balance ?
You put $190 in the bank for 5 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 fifth year. Round your answers to 2 decimal places. Year Money in the bank 1 $fill in the blank 1 2 $fill in the blank 2 3 $fill in the blank 3 4 $fill in the blank 4 5 $fill in the blank 5 B. Use the future value of $1 table and verify that your answer is correct. Round your future value factor to three decimal places and final answer to 2 decimal places. $fill in the blank 6
You just deposited $2,500 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now? $15,234.08 $16,035.88 $16,837.67 $17,679.55 $18,563.53
Calculate the final balance on each bank account after making deposits in them with the following terms: A) A bank account that pays 3.5% per yearly period (i.e. the EAR) for the next 3 years in total. If you deposit $1 into a bank account that pays 3.5% per year for 3 years, the amount you will receive after 3 years is $ (Round your answer to five decimal places) B) A bank account that pays 2.3% every 6-month period for the next 3 years in total. If you deposit $1 into a bank account that pays 2.3% every 6 months for 3 years, the amount you will receive after 3 years is $ (Round your answer to five decimal places) C) A bank account that pays 8.0% per 18-month period for the next 3 years in total. If you deposit $1 into a bank account that pays 8.0% every 18 months for 3 years, the amount you will receive after 3 years is $ (Round your answer to five decimal places)

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