You want to have $50,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. If the accounts payss 6.2 percent interest what must you deposit each year?

Q: future value of your money in 17 years.

A: Future Values: Future value is the value that will be increased or decreased after a particular…

Q: If you want to have $5600 at the end of 9 years, how much money you need to deposit today into an…

A: If you want to have $5600 at the end of 9 years, the money you need to deposit today into an account…

Q: You make two annual payments of $2,000 each (the first payment is made one year from today) into a…

A: Number of annual payments (N) = 2 Payment = 2000 Interest rate = 10%

Q: If you deposit $50,000 in an account that pays an annual interest rate of 10% compounded monthly,…

A: The objective of this question is to calculate the future value of an investment given the initial…

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: If you deposit $3,500 monthly into a savings account which earns 4.25% interest rate compounded…

A: Future value refers to the amount of a current asset at some future date affected by the inflation…

Q: ou deposit $500 in an account earning 7% interest compounded annually. How much will you have in…

A: Given information: Present Value of deposited money : $500 Interest rate : 7% Time period : 10 years…

Q: You make five annual deposits of $1,800 into a savings account that pays interest at a rate of 3%…

A: Annual deposit=$1800Interest rate for 6 years=3%Last four years=4%Number of deposits=n=1800Find…

Q: You deposit $10,000 into a savings account today and leave the money in the account for the next 12…

A: Future value is the value of an annuity at a future date being compounded for a period of time at an…

Q: You are considering investing $1,000 in a bank term deposit for 6 years. The term deposit will pay…

A: Solution: An amount invested somewhere, earns interest on it.  The amount initially deposited is…

Q: you for the next 6 years, with your first deposit one month from today. If your savings earn 12.05%…

A: As per the given information: Amount deposited every month = $650Period = 6 yearsInterest rate =…

Q: how much money will be in the account? How much of it is interest?

A: Annuity payments are the fixed periodic payments that an investor or depositor makes into an…

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: If you deposit OMR 20555 in your account in a bank. Suppose the bank pays 8% compound interest…

A: We need to use future value formula given below to calculate future value of deposit FV =PV(1+i)n…

Q: You have a bank account that pays an annual interest rate of 6.9%. If you deposit $5,000 today and…

A: In the realm of financial foresight, the question at hand revolves around the future value of…

Q: what is the present value of this stipen

A: Present Value:  The present value is the present sum of a series of fixed payments. The series of…

Q: You need to have $33,500 in 14 years. You can earn an annual interest rate of 5 percent for the…

A: The deposit amount today is calculated as the present value of required amount in future. Present…

Q: you deposit $1,000 each year into an account earning 3% interest compounded annually. How much will…

A: Time value Value received today by an individual is of more worth than receiving the exact value in…

Q: If you deposit $12,000 per year, at the end of each year for 8 years in an account that pays an…

A: Annuity refers to a stream of constant and periodic cash flows. The annual amount of $12000 is an…

Q: You currently have $250,000 in your retirement account. What equal annual amount can you withe each…

A: We will have to use the concept of time value of money to solve this.

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: It is now the beginning of the year. Assume that, starting at the end of the year, you will make…

A: The future value of annuity is calculated using following equation Future value = P×(1+r)n-1r Where,…

Q: If you deposit $500 at the end of each year for the next 5 years in a bank where it will earn 6%…

A: The amount that a present investment will gain in value over time when kept in a compound interest…

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: You Save Bank has aunique account. If you deposit $9,000 today, the bank will pay you an annual…

A: FV = A*(1+r)nwhereFV = future valueA = amount investedr = interest raten =time period

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: If you deposit $287.50 into an interest-bearing savings account today, what rate of interest must be…

A: Deposit amount = $287.5Amount after 14 years = $650.01A = P ( 1+r)nP = principal   = $287.5r = rate…

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: Assume you deposit $50,000 today in a bank account offering an interest rate of 7.50% per year,…

A: Maturity Amount = Principal x (1+Interest Rate)Maturity Period Interest Earned = Principal Amount -…

Q: You need to have $30,750 in 11 years. You can earn an annual interest rate of 6 percent for the…

A: To calculate the deposit amount we will use the below formula   Deposit amount =…

Q: you deposit $3000 today in an account earning 3.5% annual interst and keep it for 10 years. In 10…

A: Total amount present in the bank account after 30 years is $111,430.6Explanation:First we calculated…

Q: You plan to deposit $250 each month into an IRA earning 0.25% interest monthly. How much will you…

A: Answer:   Following information are given:   Monthly deposit = $250 Time = 10 years No of periods =…

Q: You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much…

A: Amount Deposited Each month is $100 Interest rate is 4% Compounded monthly Time period is 15 years…

Q: How much will you have to save each year (to the nearest dollar)?

A: Time value of money (TVM) means that the amount of money received in the present period will have…

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: 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: If you deposit $3,000 at the end of each of the next 10 years into an account paying 12.0% interest,…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: You deposit $600 in an account earning 2% interest compounded annually. How much will you have in…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: You deposit $3375 today in a savings account that pays 6.25% interest, compounded annually. How much…

A: Future Value refers to the value of the current asset investment or cash flows at a specified…

Q: Your bank offers a savings account that pays 2.5% interest, compounded annually. If you invest…

A: Future value refers to the value of an investment or cash flow at a specified point in the future.…