You would like to have $6,000.00 in 11 years for a special vacation following graduation by making deposits at the end of each quarter in an annuity that pays 5.7% compounded quarterly. How much money should you deposit at the end of every quarter? calculations. Round to the nearest penny and use rounded values for all future How much of the $6,000.00 comes from deposits and how much comes from interest? of the $6,000.00 comes from your deposits and $ $ comes from interest.

You would like to have $6,000.00 in 11 years for a special vacation following graduation by making deposits at the end of each quarter in an annuity that pays 5.7% compounded quarterly. How much money should you deposit at the end of every quarter? calculations. Round to the nearest penny and use rounded values for all future How much of the $6,000.00 comes from deposits and how much comes from interest? of the $6,000.00 comes from your deposits and $ $ comes from interest.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?
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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.