How much would be in your savings account in seven years after depositing $290 today if the bank pays 10 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future value
Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…
A: We need to use the concept of time value of money to solve the question. According to the concept of…
Q: How much money will be in a bank account at the end of 15 years if $100 is deposi ted today and the…
A: Following details are given in the question : Deposit today (Present value) = $100 Time period = 15…
Q: How much would be in your savings account in seven years after depositing S290 today if the bank…
A: Future value is the value of current cashflow compounded at specified rate to future date. formula:…
Q: Assume you deposit $5,400 at the end of each year into an account paying 10.5 percent interest. a.…
A: We will have to use the following formula to calculate the future value of an ordinary annuity:…
Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…
A: The future value of a present sum of money after n periods is given by the formula Future…
Q: Suppose you want to have $2,000,000 in 45 years. Calculate how much you need to deposit per nonth in…
A: The present value is the value of the sum received at time 0. It is the current value of the sum…
Q: You deposit $4,000 today in a bank that promises to pay an annual interest of 8%? a. What is future…
A: (1) (a.) FV =PV*(1+r)^n =4000*(1+8%)^12 =10072.68 (b.) If rate =8% with monthly compounding FV…
Q: If you want to have $60.000 in 8 years, how much do you need to deposit in the bank today if the…
A: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…
Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…
A: A method of computing interest amounts in which the compounding effect was not considered by the…
Q: What is the future value of $1,200 placed in a saving account for four years if the account pays…
A: Investment = 1200 Quarterly Compounding Interest Rate = 6%/4 = 1.5% Time Period = 4 years × 4 = 16…
Q: If you deposit $5,000 in a bank account that pays 6% interest annually, how much will be in your…
A: We need to use the concept of time value of money to solve the question. According to the concept of…
Q: If you deposit $3,500 today into an account earnings an annual rate of return of 11 percent, what…
A: Deposit amount (P) = $ 3500 Interest rate (r) = 11% Period (t) = 35 Years
Q: If you deposit $8,000 in a bank account that pays 4% interest annually, how much will be in your…
A: Deposit=$8000Interest rate=4%Number of years=5
Q: If you deposit $3,500 today into an account earning an annual rate of return of 11 percent, what…
A: Deposit today (P0) = $3,500 Annual rate of return (i) = 0.11 Period (p) = 40 years Account worth in…
Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…
A: Annual deposit is $2,300.Total number of deposits is 5.Annual return is 2%.The below expression can…
Q: You put $6,150 in the bank for 15 years at 5%. Using the Future Value of 1 Table, what factor would…
A: Future Value is known as Terminal Value. The accrued amount of FVn on principal amount after n…
Q: Suppose that you place $1,000 in a bank account each year for the next 20 years. How much would be…
A: Future value of annuity due can be calculated by using this equation Future value of annuity due…
Q: If you put $850 in a bank today that pays (a) 13% interest per year, how much money could be…
A: The concept of the time value of money states that the current worth of money is more than its value…
Q: 1. If you deposit $28,688 annually at the end of every year in a bank account paying 5% annually,…
A:
Q: You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3…
A: Future Value: The worth of a asset today at a future date based on an expected rate of growth is…
Q: What is the amount a person would need to deposit today to be able to withdraw $6,000 each year for…
A: Present value (PV) is the current value of future money or cash flows at a specified rate of return.…
Q: How much would be in your savings account in 9 years after depositing $190 today if the bank pays 9…
A: Deposit amount (P) = $190 Interest rate (r) = 9% Period (n) = 9 Years
Q: You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of…
A: The formula to calculate future value of annuity is given below,
Q: You plan to deposit $5,600 at the end of each of the next 20 years into an account paying 10.8…
A: making periodic payments is called annuity, thus we will be finding future value of annuity. We can…
Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…
A: Future value is the expected value of annual deposit to be made at specified interest rate. Given:…
Q: If you deposit money today in an account that pays 9.5% annual interest, how long will it take to…
A: Given The rate of interest is 9.5%
Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…
A: Interest = Principal * rate * time Interest =$13500*3%*10/12 Interest = $337.50
Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…
A:
Q: You are depositing $3,000 today in an account with an expected rate of return of 10%. If you deposit…
A: Future value can be defined as the worth of money at a future date, computed in accordance with the…
Q: You have $29,307.61 in a brokerage account, and you plan to deposit an additional $4,000 at the end…
A: The number of years required to accomplish the goal can be find out by using the future value of…
Q: If you deposit money today in an account that pays 14.5% annual interest, how long will it take to…
A: Let us assume you deposit $100 so FV would be $200
Q: .A series of equal cash $200 that is deposited at the end of each month will last for 10 years. How…
A: Monthly deposit (M) = $200 n = 10 years = 120 payments r = 9% per annum = 0.75% per month
Q: How much would be in your savings account in 10 years after depositing $50 today if the bank pays 7…
A: Given details : Present value of investment = $50 Time period = 10 years Interest rate = 7% We…
Q: If you invest $2,589.70 in an account earning an annual interest rate of 2.539% compounded monthiy,…
A: In order to achieve a goal in future, an investment can be made at present date so that when the…
Q: You deposit $200 each month into an account earning 8% interest compounded monthly. Round to the…
A: Answer b) Total amount put by us in account: = Amount monthly invested * 12 * number of years =…
Q: You would like to have $53,000 in 13 years. To accumulate this amount, you plan to deposit an…
A: Present value refers to the current valuation for a future sum. Investors determine the present…
Q: If you deposit $3,000 in a bank account that pays 12% interest annually, how much will be in your…
A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…
Q: you put up $45,000 today in exchange for a 6.4 percent, 15-year annuity, what will the annual cash…
A: Given information: According to the question, the present value is $45,000 Rate of interest : 6.4%…
Q: Many people get ready for retirement by depositing money into a monthly or annual savings plan.…
A:
Q: How much would be in your savings account in 7 years after depositing $350 today if the bank pays 10…
A: To calculate the future value we will use the below formula Future value = P*(1+r)t Where P -…
Q: How much would be in your savings account in 11 years after deposting $150 today if the bank pays 8…
A: Given: Present value (PV) = $150 Rate of interest (r) = 8% = 0.08 Number of years (n) = 11
Q: Suppose I have the choice of investing $25000 in two different accounts: Acct 1: 4.5%…
A: Future value is the value of present cashflow compounded to future date at specified rate. formula:…
Q: At the end of two years, what will be the balance in a savings account paying 6% annually if $10,000…
A: In this question we need to compute the future value after 2 years.
Q: How much would be in your savings account in 7 years after depositing $100 today if the bank pays 5…
A: Using excel FV function
Q: The bank balance will be $
A: Time value of money (TVM) means that the amount of money received in the present times will have…
Q: You have $23,067.36 in a brokerage account, and you plan to deposit an additional $6,000 at the end…
A: The computations as follows: Hence, it will take 14 years to reach your goal.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
- 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?
- Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityHow much would be in your savings account in seven years after depositing S290 today if the bank pays 10 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future value
- How much would be in your savings account in 9 years after depositing $190 today if the bank pays 9 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) whats the future valueIf you put $1,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in 7 years? Round the answer to the nearest cent. Round FV-factor to three decimal places or use the Appendix A . (Hint: Use the future value formula.) $ How much interest will you earn during the 7 years? Round the answer to the nearest cent. $ If you put $1,000 at the end of each year into a savings account that pays interest at the rate of 3 percent a year, how much would you have after 7 years? Use the Appendix B . Round the answer to the nearest cent. Round FV-factor to three decimal places. $How much would be in your savings account in 7 years after depositing $350 today if the bank pays 10 percent per year? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
- You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. What amount will be in your account at the end of 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.You plan to deposit $2,300 per year for 5 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. Assume that your deposits will begin today. What amount will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of 3%. You plan to make your first deposit one year from today. What amount will be in your account at the end of 4 years? Do not round intermediate calculations. Round your answer to the nearest cent.$ Assume that your deposits will begin today. What amount will be in your account after 4 years? Do not round intermediate calculations. Round your answer to the nearest cent.$