Bill plans to deposit $1,500 quarterly for 30 years at 5.5% Interest, compounded monthly. How much will he have in the account in 30 years? O $468,780.80 O $189,900 O $180,000 O $3,744,000 O $477,000

Q: You decide to open an individual retirement account (IRA) at your local bank that pays 8%/year…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Jahan deposits $9,000 into an account today that promises to earn 17.3% annually for the foreseeable…

A: To calculate the future value of Jahan's deposit after 9 years with an annual interest rate of…

Q: Bill Jones plans to deposit $2100 at the end of every 6 months for the next 20 years into an annuity…

A: Calculation of the total value of the annuity at the maturity is shown below: Hence, the total…

Q: James deposits a fixed quarterly amount into an annuity account for his child's college fund. He…

A: Annuity refers to a stream of cash flows that is usually fixed and constant. The cash flows occur at…

Q: John already has $50,429 in his savings account. He plans to make contributions of $1,658 at the end…

A: The banks generally offer compounding interest, The interest is earned on interest and the interest…

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: A relative wills you an annuity paying $1000 per quarter for the next 4 years. If money is worth 12%…

A: An annuity is a financial arrangement that involves a series of fixed payments at equal time…

Q: en you retire at 65 you can take either $500,000 in cash or an ordinary annuity that promises to pay…

A: Today value=PV=$500000PMT=annuity=$47488.98Rate-r=8%Required =number of years

Q: Derek will deposit $2,713.00 per year for 16.00 years into an account that earns 10.00 %, The first…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: receives his first $121,890.95 payment in 3 years and his last $121,890.95 payment in 7 years, then…

A: The rate of return is used to assess an investment's profitability. It determines the gain or loss…

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: You want to purchase an annuity on your 30th birthday to provide you with $15,000 semiannual annuity…

A: present value of annuity we need to calculate  pv = 15000[1/0.05 - 1/0.05(1+0.05)40]       =…

Q: Derek will deposit $1,994.00 per year for 23.00 years into an account that earns 17.00 %, The first…

A: Future Value (FV) is a financial concept representing the projected value of an investment, series…

Q: David wants to accumulate at least $40,000 by depositing $1,000 at the end of each month into a fund…

A: The concept of TVM states that the money received earlier can earn interest which makes it more…

Q: Sally Mander wants to set up a perpetual annuity for herself that will pay $60,000 annually that…

A: A perpetual annuity is a financial instrument which gives regular fixed payments to the holder for…

Q: A man is planning to retire in 20 years Money can be deposited at 6% interest compounded monthly,…

A: For this we need to calculate compounded annually rate, i=(1+(r/m))^(m/q)-1 =(1+(0.06/12))^(12/1)-1…

Q: Art wants to know how much he'll have to invest today to receive an annuity of $8,000 for three…

A: The computation of amount of investment is as follows:The investment needed today is the present…

Q: 2) If Bob deposits $5000 at the end of each year for 14 years in an account paying 6% inter…

A: C=$5000i=0.06n=14

Q: If you deposit $500 in a savings account that offers3 percent interest, compounded annually, and…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Jake plans to contribute $3600 at the end of each year to his IRA. If he earns a return of 8.5%…

A: Future Value Future value  is the worth of any asset or any sum of money at a future date when such…

Q: Sally Mander wants to set up a perpetual annuity for herself that will pay $85,000 annually that…

A: Perpetual Annuity : When an Investor invests an amount which will keep compounding itself at a…

Q: Lidia deposits $700 at the END of each year for 8 years in a savings account. The account pays 12%…

A: In finance, the term annuity represents a stream of cash flows that contain an equivalent periodic…

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: Edgar wants to have $600,000 in his retirement account in thirty years.if he begins with a single…

A: Paying someone or something, or being compensated, is an event or a procedure.

Q: help!! Hector needs $13,000 in 7 years. (a) What amount should he deposit at the end of each quarter…

A: Amount needed " FV" is $13,000Time period is 7 yearsInterest rate is 7% Compounded QuarterlyTo…

Q: Jim sets up a retirement annuity in which he deposits $200 per month. The annuity pays 3% compounded…

A: Future value: The value of the asset at some future date which is computed using the assumed rate of…

Q: Kenneth decides to put away an amount of R400,00 for 15 years, at the end of every month, towards a…

A: The present value of the annuity can be calculated using PV Function in excel. PV (rate, nper, pmt,…

Q: Derek will deposit $2,713.00 per year for 16.00 years into an account that earns 10.00 %, The first…

A: Annual deposit=PMT=2713NPER=n=16yearsRate=r=10%PV=today value=$14955How much at the end of 50 years.

Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…

A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…

Q: andez wishes to have $368,765 in a retirement account 15 years from now. What payment would Noime…

A: There is need of proper planning for the retirement and proper planning lead to have good money on…

Q: Derek will deposit $7,502.00 per year for 23.00 years into an account that earns 8.00%, The first…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Bob wants $300,000 in his retirement account when he retires in 30 years. How much does he need to…

A: This question can be answered in light of future value of annuity. Annuity is a payment of equal…

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 will make equal deposits into your retirement account each year for 10 years starting now (i.e.,…

A: Present value at 30 is:

Q: A man is planning to retire in 20 years. He wishes to deposit a regular amount every three months…

A: Annual payments he will receive = $95000 Time period = 18 years  Interest rate = 8% Compounding =…

Q: Kobe is retiring in 19 years, and wants to save some money. He will make bi-weekly deposits of…

A: Bi-weekly Deposit = $513.38 Time Period = 19 Years Interest Rate = 2.750% compounded semi-annually

Q: deposits. The annual effective interest rate is 6%. Determine Y.

A: Information Provided: Future value = 500,000 Interest rate = 6% Growth rate = 5% Number of Annual…

Q: how much interest will i earn on $200 deposited in an account that pays 5.75% interest annually if i…

A: Given that: Initial deposit amount = $200 Interest rate = 5.75% Period = 1 year

Q: Sergio plans to retire in 15 years. He would like to have $250,000 in his retirement account. If he…

A: Since the interest is compounded monthly, we should compute the effective interest rate.…