At the beginning of January 2019, you placed $5,200 in a CD (certificate of deposit) account with an interest rate of 1%, compounded monthly. You cannot get your money back out of the account until the end of December 2025, at which point it will have been earning interest for 7 full years. How much ? money will be in the account when you withdraw it? 5575.10

Q: You wish to have $10,000 on August 1, 2026.  You plan to to make monthly deposits into an account…

A: The question is based on the concept of Future value and annuity

Q: Q2): A person deposits $28,500 into a savings account that earns 5% interest per year. At the end of…

A: Given That: deposited money(P)= $28500 Interest rate (r)=5%=0.05 per year Amount wants to be…

Q: You are to make monthly deposits of $725 into a retirememt account that pays an APR of 10.1 percemt…

A: Future value is the expected value of current regular deposit at a future date, at a given rate of…

Q: On January 1, 2019, Alex deposited $2,000 into a savings account that pays interest of 10 percent,…

A: Deposit amount (P) = $2,000 Interest rate (r) = 10% Period (t) = 3 Years

Q: If you wish to withdraw $200 at the end of EACH of the next 3 years earning 3.5% per year, what…

A: Present Value of annuity refers to the current value of all the series of payments or income at…

Q: You need $58000 on March 15, 2024. How much do you need to deposit each quarter in an account…

A: Future value refers to the worth or value of cash flows. Cash flows are compounded at the rate of…

Q: Suppose you borrow $20,000 at the start of 2022 to buy a car. Your loan is for 4 years at an…

A: a. Calculate the monthly payments as follows: Therefore, the monthly payment is $469.70.

Q: If the bank compounds interest annually, how much will you have in your account on January 01, 2021?

A: It has been given in the question that the interest which a bank credits into the account has been…

Q: A) When you retire, you move $300,000 into an account that pays nominal interest of 4%, compounded…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose that an account was opened with a $988 deposit at the beginning of 2030 and that there were…

A: Time value of money is a financial concept which is used to calculate the value of money in present…

Q: January 1, 2022, you open a checking account with the same bank that you have your savings account.…

A: Applicable interest rate is 0.02% Bi monthly deposits are of $25 Time period is 1 year To Find:…

Q: You deposit $90000 into an account which pays 4% compounded semiannually. You wish to make…

A: present value of annuity=A×1-11+rmm×nrmwhere,A=annuityr=rate of interestm=frequency of…

Q: ou make a one time 2000 deposit into an account which pays an annual interest rate of 1.7 compounded…

A: the final balance in the account will be the future value of the amount 2000 along with the interest…

Q: Pascal has recently opened an RRSP. He plans to deposit $ 733 at the end of every month for 20…

A: RRSP is the retirement plan and contribution made are tax free and used to accumulate fund for…

Q: You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6.…

A: Answer: Calculation of the amount that will be available to withdraw at the end of year 15: The…

Q: Determine the interest rate earned on a $200 deposit when $208 is paid back in one year.

A: In this question we require to compute the interest rate that will make deposit of $200 into $208 in…

Q: You have a balance of $7500 on your credit card and you make no further charges. If your APR is…

A: Monthly rate = APR /12 = 12.5% / 12 = 1.041667%

Q: Please do not answer this question in excel thank you in advance. A deposit of $2,500 is made into…

A: Future value is the value of an asset which grow to a higher value in future. It helps to make…

Q: answer the questions

A: 1. The computation of the EAR (effective annual rate) of each option is shown below: 10% interest…

Q: 27. You hope to accumulate an account balance of $20,000 in 4 years by making a single deposit…

A: We need to calculate the amount to be deposited today - present value (PV)Future Value (FV) =…

Q: Bozo the clown decides to start saving money. So, every month he deposits $200 into an account which…

A: because you have posted multiple questions we will answer the first question Only, for the remaining…

Q: ou plan to make twelve monthly payments of $1000 at the end of each month in the year 2024. Given…

A: Present value is the equivalent of the future cash flow that is required in the future based on the…

Q: In ten years time a person would like to have accumulated $22,109 so they can make a down payment on…

A: Here,Accumulated Amount (Fv) is $22,109Time Period (n) is 10 yearsAnnual Interest Rate (r) is…

Q: 1b. Originally, the depositor intended to withdraw $100 at the end of 2023, emptying an account that…

A:

Q: Pascal has recently opened an RRSP. He plans to deposit $ 647 at the end of every month for 25…

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

Q: You are to make monthly deposits of $425 into a retirement account that pays an APR of 10.6 percent…

A: Future value= Present value* ([1 + I]^N - 1 )/I Present value = $425 I = 10.6/12 = 0.883% N = 31 x…

Q: You deposit $83000 into an account which pays 6% compounded semiannually. How much can you withdraw…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…