Assuming that you have contributed to your TFSA account, the maximum amount from 2014 to 2022 (all deposits are made at the end of ye and earned a consistent annual compound return of 3%, how much you had in your account at the end of 2022, right after your last deposit

Assuming that you have contributed to your TFSA account, the maximum amount from 2014 to 2022 (all deposits are made at the end of ye and earned a consistent annual compound return of 3%, how much you had in your account at the end of 2022, right after your last deposit

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

1. What is the future worth of a serios of equal deposits of $1500 for 10 years in a savings account that earns 10% annual interest if: a) All deposits are made at the end of the year? b) All deposits are made at the beginning of each year?
please answer in the chart form
A person deposits $2000 every year into an account which has an interest rate of 2.5% annually. If this person made their first deposit on August 1, 2000 and plans to make their last on August 1, 2029. How much will be in the account on August 1, 2030?
Mark Welsch deposits $7,300 in an account that earns Interest at an annual rate of 8%, compounded quarterly. The $7,300 plus earned Interest must remain in the account 1 years before it can be withdrawn. How much money will be in the account at the end of 1 years? (PV of $1. FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) Present Value Table Factor Total Accumulation
On November 7, 2020 a sum of $41,200.00 was deposited into an account. What would be the future value of this sum of money on March 18, 2024, if the interest rate is 3.09% compounded monthly. (1year = 365days) Round the value for FV to two decimal places. P/Y= = I/Y = PV = $ % C/Y = PMT = $ DBD = FV = $ days
3. If you were to deposit $399.27 into an account today that pays 8% interest annually, with a payment of $100 at the end of each year, what would you be left with at the end of 5 years? in excel
What amount should be deposited today at 4.56% compounded monthly to have $5000 in 3 years?
An investor placed $2,000 per year at the end of each year into an investment account. Immediately after the 15th payment, the value of money in the account was $58,720. What is the average annual rate of return the investor has earned on the account? Group of answer choices 7.0% 9.0% 5.1% 6.3%
You want to accumulate $12000 in a 5% account by making a level deposit at the beginning of each of the next 9 years. Find the required level of payment.
Once per year Ritchie Rich deposits an amount of $800 in an account which pays 10% interest per year, compounded annually, with additional deposits of $800 continually made at the end of the year. If B, is the balance in the account, in dollars, immediately after Ritchie makes the nth deposit, then we can write B₁ = $800. (a) Complete the table to find the following. Report to the nearest $0.01. i) the balance, B, of the account on the day immediately after the second deposit. ii) the balance, B₁, of the account on the day immediately after the third deposit. iii) the balance, B₁, of the account on the day immediately after the fourth deposit 71 (Number of deposits) 1 2 OO B= $321158.22 (b) Suppose Ritchie makes 38 deposits. What is the balance of the account on the day immediately after the 38th deposit? 0 B$29923.47 B$29123.47 B= $264031.59 B, ($) $800 $ Number O B$291234.75 (It is more than $880.) $ Number S Number Q (c) Suppose Ritchie makes 438 deposits. Which is true about the…
It is now january 1, 2018, and you will need $1,000 on january 1, 2022, in 4 years. if you have only $750 on january 1, 2019, what interest rate, compounded annually for 3 years, must you earn to have $1,000 on january 1, 2022?
What is the future value on January 1, 2025, of $20,000 deposited on January 1, 2019, which accumulates interest at 10% compounded annually? ____________________________

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