Alphonse is going to put $2500 in an interest bearing account that pays 3% interest and leave it for 7 years. How much will be in the account at the end of the five years if the interest is compounded monthly?

Q: Michael wants to have $60,000 in 11 years on a savings plan that requires monthly contributions.  If…

A: Future value is the estimation of future cash value which is likely to be received in the future…

Q: jose has determine dhe need to have $800000 for retirment in 30 years. His account earns 6%…

A: Amount need to be deposited in the account each month can be calculated using the formula of future…

Q: Nick saves $175 per month, deposited directly into his credit union account on payday, the last day…

A: In order to calculate the amount at the end of a specific period of time, the future value of the…

Q: Your aunt promises to gift you $1,500 now, $1,700 one year from now, $1,900 two years from now, and…

A: The future value is reflective of the value of cash flows in the future after compounding them using…

Q: I want 800000 for retirement in 25 years. How much would she need to deposit into the account each…

A: Future value (FV) = 800,000 Period = 25 Years Number of monthly deposits (n) = 25*12 = 300 Interest…

Q: Dottie wants to buy a 150,000 house and puts a down payment of 60,000. He makes monthly payments for…

A: Given:

Q: Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants…

A: The rate of interest required to have the desired amount can be calculated with the help of rate…

Q: 9) You deposit $200 each month for five years. How much will be in the account after the five years…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: An engineer plans to deposit $3000 at the end of each year into a retirement account that pays 4%…

A: FV =P x [(1+r)n - 1] / rWhere: FV = Future value P = Amount deposited each year r = Interest rate…

Q: You need to have $33,500 in 14 years. You can earn an annual interest rate of 5 percent for the…

A: The deposit amount today is calculated as the present value of required amount in future. Present…

Q: Connie wants to have an annuity payment of $2,250 at the END of every three months. How much should…

A: Present value of annuities will give what is cash amount to be paid today.

Q: William got a loan for 25,000 dlls to be payable in 19 years with interest rate of 1.7 percent per…

A: Loan amount = 25000 dlls Period = 19 Years Annual interest rate = 1.7%

Q: Bro decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per…

A: Installment is the periodic amount paid by the borrower to the lender in order to pay back the loan…

Q: You need to have $30,750 in 11 years. You can earn an annual interest rate of 6 percent for the…

A: To calculate the deposit amount we will use the below formula   Deposit amount =…

Q: John contributes $5,000 per month into an account. How much will he have in the account after 25…

A: In the given question we require to calculate the future value of account after 25 years is john…

Q: You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at…

A: Perpetual annual withdrawal refers to the amount of repayment for n number of years forever. This…

Q: John and Rosamond want to retire in 10 years and can save $170 every three months. They plan to…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: John and Rosamond want to retire in 10 years and can save $140 every three months. They plan to…

A: Future value refers to the total value of an investment or savings at a specified future date,…

Q: John and Rosamond want to retire in 5 years and can save $140 every three months. They plan to…

A: Future value is a financial concept that is crucial to understanding the satisfaction of income over…

Q: You deposit $500 each month for four years. How much will be in the account after the four years if…

A: Compound = Monthly = 12Monthly Payment = p = $500Time = t = 4 * 12 = 48Interest Rate = r = 4 / 12%

Q: Alan's monthly payments of $600 will pay off his mortgage loan in 7 years and 5 months. The interest…

A: Here, Monthly Payment (PMT) is $600 Interest Rate (r) is 6.6% Compounding Period (m) is Monthly i.e…

Q: four. With an interest rate of 10%, what is the net value of the payments versus receipts in today's…

A: Time value of money concept says that a certain amount of money worth today is more than the same…

Q: Seamus has made deposits of ​$97.00 into his savings account at the end of every three months for 10…

A: The objective of the question is to find the final balance in Seamus's account after he has made…

Q: annuity.he plans to deposit $500 into this account each month at 2.4 % annual interest compounded…

A: in this problem we have to find out future value FACTOR and from that we get future value.