calculate the amount of money in Jamal's account after 9 years?

Q: A person just invested $475 in a security that pays $85 per year for eleven years; the first payment…

A: Annuity is the number of payments which are equal in size and made in equal interval of time. Person…

Q: 4.Hassan plans to retire 40 years from now, he wants to have AED 4.5 million. Hassan thinks he can…

A: Information Provided: Future value = 4,500,000 Interest rate = 10% Period from today till future…

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: established a trust fund for you in a bank. The account has been earning an annual interest of 11%.…

A:

Q: A rich man deposits money at a bank with 8.66% interest compounded annually 13 years ago. After…

A: This question can be solved by applying the concept of time value of money. The concept of time…

Q: Your grandmother deposited $10,000 in an investment account on the day you were born to help pay…

A: Solution:- An amount deposited today somewhere earns interest. The amount invested in beginning is…

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: Pedro deposits a sum of money in Metrobank for Juan. He wants Metrobank to send Juan checks of P…

A: 1.  There are 10 years to go till age 16. 2. Since the first payment is going to be done at age 16,…

Q: On a child's first birthday, a parent wishes to deposit enough money so that the child can withdraw…

A: Present Value of annuity = Annual payments * PVAF(rate, number of years) Present Value = Future…

Q: If Mr. X wants to retire at an age of 56 and he wants to accumulate in his bank account at that time…

A: Individuals save for retirement using various investment instruments in order to have sufficient…

Q: fter retiring, Sofía wants to be able to withdraw $8,500.00 every quarter from her account for 33…

A: There is need of proper planning for retirement and if you do that properly than you can achieve…

Q: berto opened a savings account for his daughter and Dosited $800 on the day she was born. Each year…

A: Introduction: Future Value refers to the value of investment to be received in the future at a…

Q: 10. At age 24, Brandie decides to put $150 a month into an account that has a 6% APR until she…

A: Future value refers to the value of the current asset at some future date affected by the rate of…

Q: Banking. Arlo has an income of $55,000 that he is willing to spend over a year. If his bank…

A: Cash Management refers to make number and amount of withdrawals efficiently to make opportunity cost…

Q: Compute the value for each of the following independent situations. Note: Use Excel or a financial…

A: Present value is the current value of a sum of money to be received or paid in the future,…

Q: Your sister just deposited $9,000 into an investment account. She believes that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: 1. John’s goal in life is to be a millionaire. He has $6,980 in a saving account and figure he is…

A: 1. The formulation sheet is annexed below: To open the "NPER function" window - MS-Excel -->…

Q: Avril deposited $800 in his bank at 1.5% for five years. Use the simple interest formula to…

A: INTRODUCTION Simple interest is calculated by multiplying the interest by the Principal amount.…

Q: 2. Sam is 22 years old and opens an account with an APR of 1.6%. a. If Sam deposits $30 every week,…

A: We need to calculate future value of annuity by using this formula FVn = PMT[{(1+i)n -1}/i] where…

Q: Arnie invests $18,400 in an account that pays an annual interest rate of 15 %. How much money does…

A: Present Value = pv = $18,400Interest Rate = r = 15%Time = t = 1 Year

Q: . Kevin deposits $1423.62 each quarter into an annuity account for his child's college fund in order…

A: Quarterly deposits = $1423.62Future value = $85,000Period = 12 year

Q: Julie deposited some money in a savings account this morning. Her money will earn 5 percent…

A: Computation:

Q: Jasmine invested a certain amount in a bank compounded semi-anually. The bank told her that the…

A: First  we need to calculate the interest rate. Given,  Amount will be doubled in 5 years and it is…

Q: Gilberto opened a savings account for his daughter and deposited $1300 on the day she was born. Each…

A: The future value is the value of investment at a future date after the payments are compounded using…

Q: A father opened a savings account for his daughter on the day she was born, depositing $1200. Each…

A: Future value refers to the value of a current asset at some future date affected by interest…

Q: types of accounts are available

A: Checking Account: Checking accounts are opened with the financial institutions and they provide max…

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

A: The future value refers to the value of the annuity or the cash flow at the future date. The future…

Q: Ann's grandmother put some money in an account for her on the day she was born. She is now 18 years…

A: Given information: Present value amount is Ksh 400,000 Interest rate is 8% per annum, Present age is…

Q: Your grandfather put some money in an account for you on the day you were born. You are now 16 years…

A: See below.Explanation:To solve this problem step by step, we can use the formula for compound…

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: Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800 per quarter in an…

A: given, rate (r) = 6% quaterly payment (A) =$1800 frequency of compounding (m) = 4 age = 25

Q: Your grandfather put some money in an account for you on the day you were born. You are now 18 years…

A: Here we can use the concept and formulas of time value of money to solve the questions. Time value…

Q: o capitalize on all the money he earned as a teenager, Justin has $500,000 that he wants to invest…

A: The concept of time value of money will be applicable here. When we make an investment today it…

Q: Derek can deposit $19,305.00 on each birthday beginning with his 26.00th and ending with his…

A: Annuity refers to a stream of fixed constant cash flows that occur on a periodic basis. Here Derek…

Q: Ann’s grandmother put some money in an account for her on the day she was born. She is now 18 years…

A: The amount of money in her account when she turns 70 is calculated by using the future value formula…

Q: 1) Dave invests £500 in a building society account at the start of each year. The interest rate in…

A: Annual investment (C) = £500 Interest rate (r) = 0.072 Number of investments (n) = 12 Money in…

Q: 1. Sam has made $480 in interest after investing for 16 years at 2.4% in a simple interest bank…

A: Simple Interest means the Interest is always calculated and paid on the Original Principal Amount…

Q: Assuming you made all the weekly payments for 12 years and left the money in the account without…

A: Future Value of Annuity: It refers to the future worth of the annuity stream of cash flows over a…

Q: 23. Duc has a credit card with a $1000 credit limit. His outstanding balance is currently $800. What…

A: concept. Credit limit is the maximum amount of credit made available by the lender or financial…

Q: Your grandfather put some money in an account for you on the day you were born. You are now 18 years…

A: Step 1: Step 2: Step 3: Step 4:

Q: the simple  interest he got.

A: Interest: Interest is the income generated from investing an amount in a bank or any other financial…

Q: Y our great aunt put some money in an account for you on the day you were born. This account pays 8%…

A: Deposited of money at time of born is a present value and 5,033.83 is a future value of investment…