Abe deposited a sum of money at the end of every month for 15 years at 8.5% compounded monthly. After the last deposit, interest for the account 3.5% compounded quarterly and the account is to be paid out by end-of-quarter quarterly payments of $5905.00 over 17 years. What is the size of the monthly deposit? Select one: OA. $1466 B. $560 735 x C. $1550 D. $1160 E. $756

Q: Find the compound amount and the amount of interest earned by the following deposit. $4,000 at 7.87%…

A: An interest is referred as an amount from the borrower or the deposit taking banks or the financial…

Q: Find the compound amount for the following deposit. $19,000 at 6% compounded quarterly for 9 years.…

A: The compound interest function works on the principle that the interest earned per compounding…

Q: Patrick deposited $3200 at 8% interest compounded quarterly. Find the amount in his account at the…

A: The value of a current asset at a future date based on an expected rate of growth is known as future…

Q: Find the final amount of money in an account if $3,900$3,900 is deposited at 7.5%7.5% interest…

A: Calculations are done in excel, so there is no intermediate rounding. (1+i) = (1+i(2)2))^2(1+i) =…

Q: Bruno deposited $500 RIO account that earns Interest at a rate of 4.5% and is compounded annually.…

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

Q: Laura deposited $700 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Compound interest is a financial concept in which the interest generated on an initial sum of money,…

Q: Starting three years from today, you make equal annual deposits of $5,000 into an account which…

A: Effective annual rate is calculated using the formula: EAR=1+rmm-1=1+12%22-1=1.062-1=12.36%

Q: A depositor opens a new savings account with 8,000 at 8% compounded semiannually. At the beginning…

A: The concept of time value of money will be applied here. We have to find the amount at the end of…

Q: Find the accumulated value 16 years after the first payment is made of an annuity on which there are…

A: The payment is $850. The annual rate of return is 4.1%. The payments are made once every two months…

Q: A friend of yours borrows $19,500 from the bank at 8% annually to be repaid in 10 equal annual…

A: Calculation of installment amount: Installment amount = Amount / Present value annuity factor (PVAF)…

Q: Mark Welsch deposits $7,900 in an a earned interest must remain in the ac years? (PV of $1, FV of…

A: Given: Deposit = $7,900 Interest rate = 12% Years = 2

Q: Aura deposits $10.00 in a bank and fifteen years later deposits $20.00. The interest is credited at…

A: First Payment = p1 = 10Second Payment = p2 = 20nominal discount rate for first 10 years compound…

Q: An individual deposits $1,397 at the end of each year for 8 years in an account that pays 8.2%…

A: When interest is compounded quarterly and deposits are made quarterly, the future value of an…

Q: James deposits $1000 at the end of each quarter for 10 years, in an account paying 18 % compounded…

A: Quarterly deposit (P) = $1000 Period = 10 Years Quarterly period (n) = 10*4 = 40 Interest rate = 18%…

Q: 2. Allison deposited $1,000 at the end of every month into an RRSP for 8 years. The interest rate…

A: Accumulated value:   The accumulated value is the total amount an investment currently holds,…

Q: How much must be deposited at the end of each month for 7.75 years to accumulate to $1264.00 at 7%…

A: The given problem can be solved using PMT function in excel. PMT function computes savings/…

Q: The amount that accumulates in 3 years if $ 2,500 is deposited at the beginning of each month in a…

A: Monthly payment = $2,500 Interest rate = 6.3% Time period = 3 Years

Q: Find the compound amount for the deposit and the amount of interest earned. $8900 at 8.7% compounded…

A: Future value is the estimated value of current assets that is discounted at an assumed rate of…

Q: Find the future value of a deposit of $15000 at 6% interest compounded monthly for 11 years.

A: As per the guidelines if multiple questions are asked at once, then the solution for the first…

Q: Find the compound amount for the deposit and the amount of interest earned. $6700 at 3% compounded…

A: The amount that you invest today gets compounded. This happens because compound interest is computed…

Q: Harleen has deposited $125 at the end of each month for 13 years at 4.68% compounded monthly. After…

A: Compound interest is the combination of principle and interest that is added over a set period.…

Q: On September 8, Bert Sarkis started an annuity. He arranged to have $60 deducted from his…

A: (a)Deduction amount at month-end paycheck, A = $60 Interest rate = 7% compounded monthlyInterest…

Q: Find the compound amount and the amount of interest earned by the following deposit. $7,000 at 7.87%…

A: Continuous compounding refers to the process of calculating interest on an investment in which the…