And this example Daniel and Claire are each deposited $10,000 in high interest savings account and each earn 5% inches annually Daniels ROI remain the same each year while Claire's increased each year what type of interested Daniel bank pay what type of interest it Claire's bank pay

Q: every month in a savings account that earns 3.20% compounded monthly. a. How much did Brian have in…

A: A series of regular fixed periodic payments made at each interval is annuity. The broad…

Q: In order to help you through college, your parents just deposited $35,000 into a bank account paying…

A: The annuity that can be withdrawn based on the amount that the parents have deposited at 8% interest…

Q: Calculate the amount in the fund at the end of 3 years.

A: Time value of money means that the amount of money received in the present period will have more…

Q: Stephen has $11,200 in the bank. The account will earn 2.8% in simple interest for the next 5 years.…

A: Simple interest is the method used to charge the interest on the principal amount for a given period…

Q: Your sister just deposited $6,500 into an investment account. She believes that she will earn an…

A: Present Value (PV) calculates the current worth of a future sum of money or a series of future cash…

Q: Brianna invested the profit of his business in an investment fund that was earning 3.75% compounded…

A: Present value refers to an amount that is being invested initially in the investment for a definite…

Q: Starting on the day Thomas was born, his mother has invested $50 at the beginning of every month in…

A: Future value:The future value of payments represents the accumulated value of periodic investments…

Q: 1. Tucker deposits $7,400 in an account that pays 3.15% simple interest. He keeps the money in the…

A: Hi student Since there are multiple questions asked, we will answer only first question.  Time value…

Q: Joe and Alicia want to put money in a savings account now so that they will have $2000 in 5 years.…

A: To calculate the investment amount we will use the below formula   Investment amount = F/(1+r/m)n*m…

Q: The Clark family began savings for their child's college 18 years ago. Each year they contributed…

A: Future value refers to the total value of an investment or deposit at a specified date in the…

Q: Emile has deposited $100 at the start of each month to a savings fund for the last 3 ½ years. If the…

A: Monthly deposit = $ 100 Period = 3.50 Years = 3.5*12 = 42 Months Interest rate = 8% Quarterly…

Q: New parents wish to save for their newborn's education and wish to have $35,000 at the end of 16…

A: Future value of annuity is the future value of the same cash flows that takes place at the end of…

Q: What is Bianca's balance right after her last contribution?

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: much

A: Formula to calculate future value is: FV = PV(1+r)^n Where FV is the future value, r is the rate of…

Q: Consider the two savings plans below. Compare the balances in each plan after 9 years. Which person…

A: Future value refers to the value of an investment or asset at a specific point in the future, taking…

Q: Kayla contributed equal deposits at the end of every month for 4 years into an investment fund. She…

A: As per the given information: Interest rate - 3.92% compounded monthly Total time period - 8 years…

Q: Laura opens a money market account that earns 3.0% per year by depositing $15,000. She then deposits…

A: Compounding is a technique through which future value (FV) of present amount is computed by using an…

Q: Nick invested $2,000 in a bank savings account today and another $2000 a year from now. If the bank…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: Stacey and her husband David have a joint savings account that earns 3.47% interest payable…

A: Present value refers to the discounted value of all future cash flows discounted at a specific rate…

Q: Dave invests $3,700 in a savings account at his local bank which gives 3.296 simple annual interest.…

A: Investment means engaging your funds to generate income for the future. Interest is an income on…

Q: Sean contributed equal deposits at the end of every month for 2 years into an investment fund. He…

A: This can be solved in excel. Put the cell for the monthly deposits as a blank. Now for determining…

Q: Payments of Ordinary Annuities Ryan wants to get together $40 000 to purchase the first house in his…

A: Solution:- When an equal amount is deposited each period at end of period, it is called ordinary…

Q: Michelle Payne deposited $16,000 in a savings account paying 6.25% simple interest. How long (in…

A: Calculation of Time Period of Deposited Amount Simple Interest Formula  A = p (1 + rt) Here A =…

Q: Starting on the day Kelly was born, her mother has invested $50 at the beginning of every month in a…

A: The objective of the question is to calculate the future value of a series of monthly deposits for…

Q: In 1988, your Grandmother left you a trust fund with $10,000 in the account that has been earning 8%…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: Dylan contributed $700 at the end of every 3 months, for 4 years, into a Registered Retirement…

A: Solution:- When an equal amount is deposited each period at end of period, it is called ordinary…

Q: Brittany contributed $3,750 at the end of every 3 months, for 5 years, into a Register. Retirement…

A: Solution: An amount deposited at end of every period is known as ordinary annuity. The formula for…

Q: How much much money is in this account on your 18th birthday (after your grandma made her deposit)?

A: We need to use the FV formula for $150 on day on your birth and for $20 you found on your 8th…

Q: Matthew invested the profit of his business in an investment fund that was earning 3.75% compounded…

A: Data given: APR( monthly) = 3.75% Semi-annual withdrawal = $ 2500 No.of years to first withdrawal =…

Q: Bob has saved $555 each month for the last 3 years to make a down payment on a house. The account…

A: Future value is a financial concept that represents the value of an asset or investment at a…