An investment of P2658 is made at the beginning of each month for 4 years and 11 months. How much will the investment be at the end of the term, if interest is 5% compounded monthly? Round your answer to 2 decimal places.
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- Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.How much will a bank deposit of $2,000 that pays 10% compound interest be worth at the end of 3 years?Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?
- Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period for 7 years if the interest rate is 6% compounded semiannually. (Round your answer to two decimal places.) $Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?An investment company is going to place $300,000 into an annuity. Then, it is going to add $25,000 a quarter to the annuity for the next 15 years. If the annuity draws 8% interest, how much will it be worth at the end of the time?
- 14. What is the nominal value of the interest compounded continuously for a period of 3years if the value of the uniform series present worth factor is 2.038?You want $12,000 in your IRA in 6 years. Assuming you get 8% compounded quarterly, how much will you need to put in each quarter?You want to buy a $32,000 car. You can finance the car for 1.5% interest for 6 years. What is your monthly payment? Assume monthly compounding. Do not enter the negative sign from your calculator (if there is one) or the dollar sign. Round to two decimal places.
- Jake Werkheiser decides to invest $5000 in an IRA at the end of each year for the next 11 years. If he makes these investments, and if the certificates pay 9%, compounded annually, how much will he have at the end of the 11 years?Roy wishes to have P 1,000,000 in a certain fund at the end of 5 years. How much should he invest in a fund that will pay 22% compounded continuously?John paid $500 per month for 20 years to pay off a mortgage on his house. If his down payment was $5,000 and interest rate was 6% compounded monthly, what was the purchase price of this house? do it fast