you save $2,000 at the beginning of every year for seven years , for how long can you withdraw $2,760 at the beginning of each year starting seven years from now, ass
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If you save $2,000 at the beginning of every year for seven years , for how long can you withdraw $2,760 at the beginning of each year starting seven years from now, assuming that interest is 5% compounded annually.
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?Use 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.
- if you save $100 at the beginning of every month for seven years, for how long can you withdraw $340 at the beginning of each month starting seven years from now, assuming that interest is 6% compounded monthly? State your answer in years and months (from 0 to 11 months).If you save $1,900 at the beginning of every year for ten years, for how long can you withdraw $2,500 at the beginning of each year starting ten years from now, assuming that interest is 8% compounded annually? State your answer in years and months (from 0 to 11 months). You can withdraw $2,500 for year(s) and month(s). (Type whole numbers.)You want to have $2,000,000 in your savings account seven years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 5.25 percent interest, what amount must you deposit each year?
- Suppose you deposit $2,500 at the end of year 1, nothing at the end of year 2, $750 at the end of year 3, and $1,300 at the end of year 4. Assuming that these amounts will be compounded at an annual rate of 15 percent, how much will you have on deposit at the end of five years?You are set to receive an annual payment of $11,000 per year for the next 16 years. Assume the interest rate is 5.9 percent. How much more are the payments worth if they are received at the beginning of the year rather than the end of the vear?You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at the end of year forever?You can make annual withdrawls of $
- You expect to receive $1,000 at the end of each of the next 3 years. You will deposit these payments into an account that pays 8 percent compounded annually. What is the future value of these payments, that is, the value at the end of the third year?If you borrow $9,000 with an interest rate of 5 percent, to be repaid in five equal yearly payments at the end of the next five years, what would be the amount of each payment?If you save $580 at the beginning of every six months for nine years, for how long can you withdraw $660 at the beginning of each six months starting nine years from now, assuming that interest is 7% compounded semi-annually? State your answer in years and months (from O to 11 months).