A business man needs to have 100,000 due in 5 years. How much must he put into his 10% savings account in the bank?
Q: A man wants to invest $5800 for 2 years and 3 months. How much will he have in his account if it is…
A: simple interest is interest calculated on the principal amount that means he only gain interest on…
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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: a businessman needs to have 100,000 due in 5 years. how much must he put into his 10% saving account…
A: Here in this question, we are required to calculate how much business man should put into investment…
Q: If you deposit $10 000 in a bank account that pays 10 interest annually, how much will be in your…
A: Present Value is a current value of a future amount that is receivable or payable. While, Future…
Q: Max the mouse needs $10,000 in 5 years. How much should Max deposit today if the bank has a simple…
A: Simple interest is the type of interest that is calculated on the original amount invested and not…
Q: How much money should a man invest in a bank account paying 8 percent annual interest compounded…
A: Interest Rate = 8% Continuous Compounding Future Value Required = 20,000 T (Time Period) = 4 years…
Q: ou want to be able to withdraw $35,000 each year for 30 years. your account earns 6% how much do…
A: An annuity is defined as the sum of recurring payments over a period of time at a certain date, at a…
Q: John Jamison wants to accumulate $60,000 for a down payment on a small business. He will invest…
A:
Q: 2. You are running a bank. A customer agrees to pay you with annual interest rate of 10% for 5…
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A: In the given question we need to compute the interest rate bank is paying.
Q: Your local bank pays 4% interest annually. You have $5,000 invested in the bank. How long will it…
A: Given: Interest rate = 4% Present value = $5,000
Q: Money in my savings account earns interest at 10%annual rate. Each time I go to the bank, I waste 15…
A: To answer your questions, let's analyze each scenario:a) How often should I go to the bank?To…
Q: You want to be able to withdraw $35,000 each year for 25 years. Your account earns 5% interest. a)…
A:
Q: You want to be able to withdraw $50,000 each year for 25 years. Your account earns 9% interest. a)…
A: An annuity is a payment series that provides its holder with a periodic amount in exchange for a…
Q: You deposit k1000 in your bank account if the bank pays 4% simple interest,How much will you…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: You want to have $10000 in five years. How much should you deposit today if the bank pays 4%…
A: $10000 in 5 Years That is 5*12 months = 60 Months (n) Interest rate 4% annual compounded monthly…
Q: You want to be able to withdraw $20,000 each year for 30 years. Your account earns 5% interest. How…
A: Given, Amount withdrawn each year (P) = $20,000 Rate of interest (i) = 5% or 0.05 Number of years…
Q: How much do you need to save each year for 30 years in order to have $775,000, assuming you are…
A: Given information: Future value amount is $775,000 Interest rate is 8% Number of years is 30
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A: Compound interest is one of the ways that money invested earns interest. In compound interest, the…
Q: Your parents deposit $1000 in your bank account paying 5% per year. What would be the balance in…
A: Future Value refers to the value of current assets at a specified growth rate in the future for a…
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: Here. Required Amount in 8 Years (FV) is$60,000 Interest Rate (r) is 9% Time Period is 8 years
Q: A mother wishes to have Php800,000 eight years from today for her son’s graduation. How much should…
A: Future value (FV) = Php800,000 Monthly interest rate (r) = 0.0116666666666667 (i.e. 0.14 / 12)…
Q: How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank…
A: Given details are : Present value = $1500 Time period = 12 years Interest rate = 5% We need to…
Q: How much do you need to save each year for 30 years in order to have $775,000, assuming you are…
A: Time = t = 30 years Future value = fv = $775,000 Interest rate = r = 8%
Q: Suppose you deposit $4,000 in a savings account paying 10% simple interest. How much money will you…
A: Present Value = pv = $4000Interest Rate = r = 10%Time = t = 4 Years
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A: Present Value helps in determining the value of any amount today after considering the fact that…
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A: The future value of the cash flow is the future worth of a cash flow at a certain rate of interest…
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A: Future value is the accumulated amount that includes the investment amount and accumulated…
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A: Part A-C:Calculation of Amount in the Account, Total Money in the Account and Total Interest:A) The…
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: 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: Problem 3: Your parents deposit $1000 in your bank account paying 5% per year. What would be the…
A: Future Value refers to the value of current assets at a specified growth rate in the future for a…
Q: 2. Alice wants to have $90,000 ten years from now. If her bank is paying 4.12% and compounds weekly,…
A: PV = FV / (1 + r / m)m*n FV = Future value = $90,000 PV = present value r = rate of interest =…
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- a businessman needs to have 100,000 due in 5 years. how much must he put into his 10% saving account in the bank?You want to be able to withdraw $20,000 each year for 30 years. Your account earns 5% interest. How much do you need in your account in the beginning? how much total money will you pull out of the account? how much of that money is interest?Suppose you deposit $4,000 in a savings account paying 10% simple interest. How much money will you have in your account after 4 years?
- If you deposit $8,000 in a bank account that pays 7% interest annually, how much will be in your account after 15 years? If you deposit $4,000 in a bank account that pays 8.6% interest annually, how much will be in your account after 3 years? If you deposit $1,000 today, and $1,500 every year, in a bank account that pays 4% interest annually, how much will be in your account after 23 years? If you deposit $14,000 in a bank account that pays 3.7% interest annually, how much will be in your account after 5 years? If you deposit $13,000 in a bank account that pays 13% interest annually, how much will be in your account after 13 years? If you deposit $7,500 today, and $2,000 every year, in a bank account that pays 2.8% interest annually, how much will be in your account after 35 years?How much do you need to save each year for 30 years in order to have $775,000, assuming you are investing the money in an account that earns 8%? How much of the $750,000 comes from principal (you’re out of pocket costs)?2) Max the mouse needs $10,000 in 5 years. How much should Max deposit today if the bank has a simple interest rate of 4%?
- John Jamison wants to accumulate $60,000 for a down payment on a small business. He will invest $30,000 today in a bank account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal?Money in my savings account earns interest at 10%annual rate. Each time I go to the bank, I waste 15 minutesin line. My time is worth $10 per hour. During each year, Ineed to withdraw $10,000 to pay my bills. a How often should I go to the bank?b Each time I go to the bank, how much money shouldI withdraw?c If my need for cash increases, will I go to the bankmore often or less often? d If interest rates rise, will I go to the bank more of-ten or less often? e If the bank adds more tellers, will I go to the bankmore often or less often?2. Alice wants to have $90,000 ten years from now. If her bank is paying 4.12% and compounds weekly, how much money must she deposit today?
- A mother wishes to have Php800,000 eight years from today for her son’s graduation. How much should she deposit monthly in a bank if it pays interest at 14%, m = 12?You want to be able to withdraw $25,000 each year for 20 years. Your account earns 10% interest. A.How much do you need in your account at the beginning? b) How much total money will you pull out of the account? c) How much of that money is interest?Your rich aunt puts $35,000 into a bank account earning 4.00%. You are not to withdraw the money until the balance has doubled. About how many years will you have to wait?
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