You would like to contribute to a savings account over the next three years in order to accumulate enough money to take a trip to Europe. Assume an interest rate of 14%, compounded quarterly. How much will accumulate in three years by depositing $740 at the beginning of each of the next 12 quarters? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1. FVA of $1, PVA of $1. FVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Payment: Future Value: n= j=

Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. How much would you need to deposit in the account each month? Submit Question .com/course/showcalendar.php?cid=179278 Search

You want to be able to withdraw $5000 from an account at the end of each year for the next 12 years.  How much money should you invest now into an account earning 5.5% interest per year, compounded annually, in order to fund the desired withdrawals?  Assume the account is empty after the last withdrawal is made.   Give the answer to 2 decimal places, and do not use the $ sign in the answer box.   The amount to invest now is  Blank 1. Calculate the answer by read surrounding text. dollars.

You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $300,000 Interest rate: 3.55% Frequency monthly 29 years Time: Periodic Withdraw: $