Your RRSP savings of $25,000 are converted to a RRIF at 5.25% compounded monthly that pays $5,300 at the beginning of every month. After how many payments will the fund be depleted?
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A: There are two distinct questions in this post. The first has been answered below.
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Q: how many years
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A: Computation:
Q: Your RRSP savings of $52,500 are converted to a RRIF at 4.22% compounded monthly that pays $5,372 at…
A: EXCEL FORMULA:
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- How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one year and the rate is 10%?Answer the following questions using Excel's RATE, NPER, PMT, PV and FV functions. 1. If you save $25.00 at the end of each month and interest is 4% compounded quarterly, how much will you accumulate in thirty years?Your RRSP savings of $52,500 are converted to a RRIF at 4.22% compounded monthly that pays $5,372 at the beginning of every month. After how many payments will the fund be depleted? Round to the next payment ✓ SUBMIT QUESTION SANPE PROGRESS Tagay
- Your goal is to save up $30,000 to use as a future down payment. If you save $4,596 every year in an account that earns 3% annually, how long will you be saving? Round your numerical answer to the nearest one-hundredth of a year.If you have $6000 in your savings account with 0.8% APR compounded monthly, how much will you have after 10 years? Round to the nearest cent.Find the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $3,000 per month for 15 years, if the account earns 7% per year PV = $ Need Help? Read I Watch It
- Assume that you want to have $ 4100 saved in a sinking fund in 1 year. The account pays 3% compounded monthly. What should be your monthly payments? Monthly Payment =Find the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $2,100 per quarter for 15 years, if the account earns 4% per year PV = $ Need Help? Read It Watch ItFind the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200 per month for 15 years, if the account earns 7% per year and if there is to be $10,000 left in the annuity at the end of the 15 years PV = $ Need Help? Read It Watch It
- Assume that you want to have $ 4450 saved in a sinking fund in 1 year. The account pays 2% compounded monthly. What should be your monthly payments?You are offered payments of P1500.00 att he end of each quarter for 6 years. You feel that the cost of money is 5.4% compounded monthly. What is the cash flow?If you deposit $300 at the end of every month in a savings account that pays a nominal APR of 5% per year, compounded daily, how much will you have at the end of a year? I need this answered with Excel, formulas, layout, screenshots.