1) You put $150,000 into a savings account paying 3% compounded monthly. How many full monthly withdrawals of $10,000 can you make? a) what is the smaller concluding withdrawal one month after your last full withdrawal?

Q: How much would you need to deposit in an account now in order to have $5,000.00 in the account in 13…

A: Simple interest is an interest that is calculated on the initial investment.

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: The amount you need to deposit in an account each month in order to have $20,000 in the account in 7…

Q: You wish to save $30,000 by making $1000 deposits at the end of each month. If the bank pays 4%…

A: Dear student, we need to use NPER and FV formulas in excel to solved this problem.

Q: A bank offers to pay you a stated annual rate of 5%, compounded daily. How many years will it take…

A: Future value refers to the value of a current asset at some future date affected due to inflation,…

Q: Consider a credit card with a balance of $7000 and an APR of 12.5%. If you want to make monthly…

A: The objective of this question is to calculate the total amount paid over 11 years to clear a credit…

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

A: Given: Future value = $50,000 Time =8 years Monthly period = 8*12 = 96 Interest = 4.5% So, monthly…

Q: Suppose you have $60,000 in a savings account earning 2%. You would like to make equal quarterly…

A: The time value of money is a concept in finance that evaluates the worth of the securities that cash…

Q: Assume you deposit $4,200 at the end of each year into an account paying 10 percent interest. a. How…

A: The fixed periodic regular payments/deposits made at each periodic interval are recognized as…

Q: You have $164,000 in an account today paying 2.8% interest. What are the monthly withdrawals you can…

A: The annuity refers to the series of payments made periodically in exchange for a lump sum payment.…

Q: Imagine you want to earn $1000 in total after 3 years. The Bank A says that account earns 5%…

A: In simple interest, the rate of interest is applied on the principal amount only whereas in compound…

Q: You deposit $62000 into an account which pays 3% compounded monthly. You leave the money in the…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: You want to be able to withdraw $3,000 each month for 25 years. Your account earns 9% interest. How…

A: Given Information: Monthly withdrawal = $3,000 Time period = 25 years Interest rate = 9%

Q: Suppose you decide to deposit $24,000 in a savings account that pays a nominal rate of 12%, but…

A: The objective of this question is to calculate the future value of a deposit in a savings account…

Q: You want able to withdraw 15,000 each month for 15 years. your account earns 3 1/4% interest. a.…

A: Investments are the ways in which individuals and corporations park and save their money and funds…

Q: How much must you deposit into an account today so that you can have $25,000 in twelve years? Assume…

A: The concept of TVM refers to the interest-earning capacity of money because money earned earlier is…

Q: Suppose you saved $350,000 for retirement and you can put them in an account that earns 5% interest…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Monthly deposit refers to an amount that is deposited at every month for the purpose of earning some…

Q: Suppose you deposit $1000 into a savings account earns 2% and is compounded semiannually. If you…

A: Future value is the compounded value of a sum of money invested for a period of time at a specified…

Q: You deposit $90000 into an account which pays 4% compounded semiannually. You wish to make…

A: present value of annuity=A×1-11+rmm×nrmwhere,A=annuityr=rate of interestm=frequency of…

Q: You put $1, 000 into a savings account today that offers a 5% APR with semi-annual compounding…

A: Number of period is 4 (2 x 2).

Q: You want to be able to withdraw $8500 from an account at the end of each 6-month period (that is,…

A: Given that;Periodic withdrawal amount is $8500Interest rate is 2.9% per year

Q: mpounded monthly. You plan to put $1,000 per year over the next 2 years as well.  How much will you…

A: To determine the value of the bank account, we need to determine the effective annual rate given the…

Q: Suppose you plan to start a saving account. You plan to deposit $98 each month in to a money market…

A: Compound = Monthly = 12Payment = p = $98Interest Rate = r = 6 / 12 = 0.5%Future Value = fv = $2000

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…

Q: Suppose you owe $1,100 on your credit card. The annual percentage rate (APR) is 24%, compounded…

A: Principal = $1,100APR = 24%Minimum monthly payment = $24.75

Q: How much will you have in the account in 15 years? b) How much total money will you put into the…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: You make a one-time $3,088 deposit into an account which pays 2.8% compounded weekly. If you don't…

A: using excel fv function

Q: You want to be able to withdraw $50,000 each year for 20 years. Your account earns 8% interest. a)…

A: a) Hence, the amount in the account at the beginning is $490,907.37 b) Hence, the total money pull…

Q: How long will it take to save $2581.00 by making deposits of $227.00 at the end of every month into…

A: Amount to be saved is $2581.00 Interest rate is 7% compounded monthly Monthly deposit $227 To Find:…

Q: You deposit $66000 into an account that pays 7% compounded monthly for 8 years. you want to be able…

A: MS-Excel --> Formulas --> Financials --> FV Therefore, the future value of the deposit for…

Q: You have a bank deposit now worth $5000. How long will it take for your deposit to be worth more…

A: Interest is an additional amount which is earned on deposited amount for the period. It increases…

Q: You deposit $57000 into an account which pays 7% compounded annually. How much can you withdraw at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: You plan on depositing $370 every month for the next 11 years in an account that pays a 0.8%…

A:

Q: in order to withdraw $200, 000 two years now, how much do you need to deposit to in a bank account…

A: Future value required=$200000Period=2 yearsInterest rate is 6%Compounding quarterly.

Q: You currently have $4,000 in a bank account that pays an annual rate of 1%, compounded monthly.  You…

A: Dear student, we need to use NPER formula to calculate number of periods(N) in excel.

Q: Suppose you have $8,675,309 to deposit into a savings account for one year. The bank lets you choose…

A: Here Investor has $8,675,309 to deposit for 1 year @ 12% in two options: Compounded annually…

Q: You decide to save $7700 by making monthly deposits for 9 years into an account which pays 7%…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…