3. If you decided to take the $250,000 cash payment today, but saved that in your bank account at 3%, how much would you have saved up in your bank account in 20 years?
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- How much money will you have in seven yearsif you deposit $7,000 in the bank at 8.5% interestcompounded daily?How much should you put into 6% saving account in order to have 100,000 in five years?3. Would you rather have a savings account that pays 5% interest compounded semiannually or one that pays interest compounded daily? Explain.
- Find FV: You have $2,000 in a savings account that earns 1.5% interest per year. What will be the balance in your account: in one year? in five years? in ten years?1. How much must you deposit each year to have $20,000 at the end of 15 years with money worth 7%?22. You deposited $15,000 in a savings account five years ago. The account has earned 5.25% interest compounded continuously since then. How much money is in the account today?
- You deposit $3,000 in a bank at an annual interest rate of 7%. What will your bank balance be in 27 years?3. If you deposit $1000 in an account that pays 5% interest, compounded annually, how much will you have at the end of 10 years? 50 years? 100 years? What if this is compounded Semi annually in 10 years? 50 years? 100 years?3. You just inherited P1,000,000. While you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you would like to have P1,000,000 in the account in 10 years?
- To have a total of $10,000 after 8 years, what principal do you have to deposit in a 4.5 percent saving account compounded monthly?QUESTION 3 1.1) Calculate the future value (rounded to the nearest whole number) of monthly deposits of R500, made for 30 years, at a nominal interest rate of 4% p.a. Then find the value of the monthly withdrawals (rounded to the nearest whole number) that can be made from this annuity for a period of 20 years, at a nominal interest rate of 5% p.a. Future value of monthly deposits = Monthly withdrawal =How much is accumulated over two years in each of the following savings plans? a. $60 at the end of each month for 24 months at 24 percent compounded monthly b. $50 at the end of the first month, $51 at the end of the second month, and so forth, increasing by $1 per month, at 24 percent compounded monthly Click the icon to view the table of compound interest factors for discrete compounding periods when i = 2%. a. There would be $ (Round to the nearest b. There would be $ (Round to the nearest accumulated in the account after two years. cent as needed.) accumulated in the account after two years. cent as needed.)