A family that won a $100,000 prize on America’s Funniest Home Videos decided to put one-half of the money in a college fund for their child who was responsible for the prize. If the fund earned interest at 6% per year, how much was in the account 14 years after it was started?

Q: You've decided you will put $300 in the bank in year 1 and increase the deposit amount every year by…

A: The amount that a future sum of money is worth today, at a particular interest rate, is known as its…

Q: Company A plans to set aside $150,000 now for possibly replacing its large synchronous refiner…

A: Future value describes the concept that a sum of money today will be worth more in the future due to…

Q: A successful alumnus gives CBU $5,000,000 to establish an endowed scholarship fund. If CBU can…

A: Step 1: Given Value for Calculation Present Value of Payment = pv = $5,000,000Interest Rate = r =…

Q: On the day his son was born, a father decided to establish a fund for his son's college education.…

A: Present value (PV), also known as discounted value or present discounted value, is a financial…

Q: The cost to manufacture a firing system component used in a rapid deployment missile defense system…

A: Given:Cost to manufacture fire system in first year = $30000Increase in cost per year (g) = 2% or…

Q: a contractor buys an excavator for $250000 which provides an income of $35000 per year for a period…

A: Step 1: Identify the given valuesStep 2: Use the PVIFA formulaStep 3: Calculate (1 + i)^(-n)Step 4:…

Q: Mr. Doe borrowed $1000 from his bank at 8% per year, compounded annually. He can (i) repay the $1000…

A: Given, Net amount- $1000 Interest- 8% Time- 8 years

Q: You plan to deposit $100 per week into a fund that pays interest of 6% per year, compounded…

A: The rate of return on cash deposits paid by a bank or financial institution is referred to as the…

Q: A bank is offering an interest rate of 3.50% per year, compounded every 3 months. What is the…

A: An effective annual interest rate is the genuine profit from a bank account or any interest-paying…

Q: don't use excel only formula used.   For an interest rate of 8% per year compounded quarterly,…

A: The objective of the question is to determine the number of times interest would be compounded in…

Q: An engineer deposits $2,000 per month for four years at a rate of 24% per year, compounded…

A: Present Worth (PW), also known as Present Value (PV), is the current value of a series of future…

Q: Your grandfather made a save account with the interest of 10% per year, to that account worth a

A: Grandfather made save account with interest rate is 10% per year and account worth a value of $100…

Q: Define the economy symbols to determine how many years it would take for $13,000 to double in size…

A: A simple way in order to determine how long an investment would take to double given a fixed annual…

Q: Consider the following schedule of cash flows. If interest is 4% per year, compounded continuously,…

A: here we calculate the equivalent value of the cashflow by using the given cashflow so calculation as…

Q: A certain sum of money will be deposited in a savings account that pays interest at the rate of 6%…

A: The provided question has been answered from the perspective of 'Financial Economics'.An initial…

Q: What is the present value of $8000 paid at the end of each of the next 16 years if the interest nate…

A: The present value of the annuity is the current value of the future payments from an annuity. The…

Q: For the cash flow diagram shown, determine the value of G that will make the present worth in year 0…

A: Given: PW at year 0=$2500 i=10%

Q: How many years will it take for money to increase to three times the initial amount at an interest…

A: Increment in money will be 2 times.