Suppose you deposit $22.000 in an account today that pays 6% interest, compounded annually. How long does it take before the balance in your account is $76.000?
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A: Investment (P) = $ 100 Future value (FV) = $ 134.39 Period = 5 Years
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A: Principal, P = $ 100Nominal interesr rate = Inom = 11.33463% Daily interest rate, Rdaily = Inom /…
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A: Here, Deposit Amount today (D0) is $4,000 Deposit Amount in One Year (D1) is $2,000 Deposit Amount…
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A: The amount of deposit to be made today can be calculated using the Present Value Formula
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Q: how much money must you put in a savings account today?
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Q: Suppose that you deposit $15 at the end of each month into a savings account that pays 2% interest…
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A: Answer b) Total amount put by us in account: = Amount monthly invested * 12 * number of years =…
Q: You deposit $300 each month into an account earning 3% interest compounded monthly. a) How much will…
A: Monthly deposit (P) = $300 Interest rate = 3% Monthly interest rate (r) = 3%/12 = 0.25% Period = 15…
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A: Future Value(FV) is compounded value of current amount at future date computed using interest rate.
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A: Invested amount (P) = $ 2000 Annual interest rate = 4% Daily interest rate (r) = 4%/365 =…
Suppose you deposit $22.000 in an account today that pays 6% interest, compounded annually. How long does it take before the balance in your account is $76.000?
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- 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.You put $600 in the bank for 3 years at 15%. 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 third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?
- Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns 14.00%. How much will the account be worth 14.00 years from today?Suppose you deposit $380 today, $565 in one year, and $929 in two years in an account that pays an annual rate of interest of 18.91%. How much money will be in the account after three years?Suppose you deposit $1,681.00 into an account today that earns 11.00% p.a. It will take years for the account to be worth $2,936.00.
- Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How much do you have to deposit into the account 1 years from today ?Suppose on January 1st you deposit $100 in an account that pays a nominal interest rate of 11.33463% with interest added (compounded) daily. How much will you have in your account on October 1st or 9 months later?You deposit $700 each month into an account earning 3% interest compounded monthly. a) How many months will you need to make deposits to reach a value of $40000 ? $ b) How much total money will you put into the account? $ c) How much total interest will you earn?
- Suppose you invest $100 in a bank account, and five years later it has grown to $134.39. What APR did you receive if the interest was compounded semiannually? What APR did you receive if the interest was compounded monthlySuppose you deposit $1,000 today in an account that pays 5% interest at the end of each year. If you withdraw one-half of the year's interest at the end of each year, what is the balance in your account after your third withdrawal?Suppose you currently have $4,800 in your savings account, and your bank pays interest at a rate of 0.47% per month. If you make no further deposits or withdrawals, how much will you have in the account in 6 years? In 6 years' time, you will have $________ in the account.