A fund of 25000 is to be accumulated by means of deposits of 1000 at the beginning of every year as long as necessary. If the fund earns an nominal rate of interest of 8% compounded yearly, find how many regular deposits will be necessary and the size of the smaller deposit to be made on the last regular deposit, if any.

Q: Suppose a bank account pays interest that is compounded 6 times per year. If initial deposit was…

A: Initial amount=P= 1500 Final amount= A= 6000 Time = 4 years  Interest rate = r= ? Number of times…

Q: Find the amount due at the end of 8 years and 6 months if P4, 000 is invested at 7% compounded…

A: Principal amount:  $ 4000 Interest Rate:  r = 7% Time Period:  t = 8 year 6 months

Q: Since he was 21 years old, Ben has been depositing $250 at the end of each month into a tax-free…

A: Answer:-        Given,           Regular payment PMT=300     Rate of interest =4.5%/ year…

Q: If a Bond has duration of 11 years with a bond price of 1000 and a yield to maturity of 4%. If the…

A: Bond duration = 11 years Bond price = 1000 Yield to Maturity(YTM) = 4% To find: What is the bond…

Q: Suppose $100 is withdrawn at the EOY 2026, emptying an account that earns 7% interest, compound…

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Q: if the interest 1,280 has not been paid each year but had been allowed to compound, how much…

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Q: At the time of her grandson birthday a grandmother deposits 10000$ in an account that pays 2.5%…

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Q: Find the present value that m deposited now to amount to 24,500 in 5 years at 8%

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Q: Since he was 23 years old, Ben has been depositing $200 at the end of each month into a tax-free…

A: Sol:- To solve this problem, we can use the formula for the future value of an annuity due: FV = PMT…

Q: Engr. Velasco decided to subscribe in a globe promo which must be paid P 4,278 per month for five…

A: Engr. Velasco decided to subscribe in a globe promo which must be paid 4,278 per month for five…

Q: Taylor is paid on the frst day of the month and $80 is  automatically deducted from her pay and…

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Q: Suppose that RM9,000 is deposited for 6 years in an account paying 8.31% per year compounded…

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Q: P1,420 is invested in an account which earns 8% interest compounded annually, which will be the…

A: We have to find the balance at the end of 17 years.

Q: A deposit of $15,000 is made in a trust fund that pays 3.5% interest, compounded semi-annually. It…

A: Given that, the amount invested is: P=$15,000. The rate of interest is: r=3.5100r=0.035 The time is:…

Q: Suppose you want to accumulate 120,00 for your retirement in 30 years. Make a single deposit into an…

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Q: I will invest Nu. 500 per quarter for my retirement at 7.3% compounding quarterly for 32 years. I…

A: Given information Quarterly deposit P=$500 Annual interest rate  r=7.3% Period of paymentn=32 years…

Q: Suppose RM2000 is deposited in a savings account for 10 years where the interest rate is 8.7%…

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Q: Find the interest earned by a deposit of 22,250 at 9 1/4% interest compounded monthly for twenty…

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