Certain Concrete Company deposits $2,000 at the end of each quarter into an account paying 5% interest compounded quarterly. What is the value of the account at the end of 7 1/2 years. (a) state type present value ordinary annuity     sinking fund amortization none of these (b) Answer the question. (Round your answer to the nearest cent.)

Q: Compute the present value of a $5,500 deposit in year 1, and another $5 end of year 4 using an 8…

A: Present value estimates are critical in many financial and investment decisions, assisting people…

Q: Your bank pays 8% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: A sum of money is worth more now than it will be at a later time due to its potential for profits in…

Q: Find the interest rate for a $8500 deposit accumulating to $11,612, compounded annually for 6 years.…

A: A = the final amount (in this case, $11,612) P = the principal (initial deposit) (in this case,…

Q: Molly Hamilton deposited $60,000 at Bank of America at 16% interest compounded quarterly. What is…

A: Given, Rate = 16% p.a. compounded quarterly Amount Deposited = $60000

Q: Future Value $28,000 Periodic Payment Payment Interval Term Conversion Period $220 1 month 8 years…

A: The annual rate of interest refers to the interest rate thang charged by the lender from the…

Q: A sinking fund is established to discharge a debt of $60,000 in 15 years. If deposits are made at…

A: using financial calculator, N =15*2 =30 I/Y = 4/2 =2 PV = 0 FV = -60000

Q: A sinking fund is established to discharge a debt of $70,000 in 15 years. If deposits are made at…

A: Compound = Semiannually = 2Future Value = fv = $70,000Time = t = 15 * 2 = 30Interest Rate = r = 4 /…

Q: Use the compound interest formula for compounding more than once a year to determine the accumulated…

A: Here,Deposit Amount (PV) is $20,000APR (r) is 3.7%Time Period (n) is 32 yearsCompounding Period (m)…

Q: Compute the amount that can be borrowed under each of the following circumstances: (PV of $1, FV of…

A: Present value of amount is computed by following formula:-Present value = Future value * Present…

Q: Determine the accumulated value of semi-annual deposits of $77 each after 10 years if the deposits…

A: Accumulated principal or a series of cash flows with the compounded interest is the future value or…

Q: Mark Welsch deposits $7,900 in an a earned interest must remain in the ac years? (PV of $1, FV of…

A: Given: Deposit = $7,900 Interest rate = 12% Years = 2

Q: Mark Welsch deposits $7,300 in an account that earns interest at an annual rate of 4%, compounded…

A: Given that:annual interest rate = 4% compounded quarterlyPeriod = 2 yearsPresent value = $7300

Q: Determine the value at the end of five years of a $7,000 investment (today) in a bank certificate of…

A: Future Value = Present Value * (1+rate)^n Where, Rate = 9%/2 = 0.045 n = no. of compounding period =…

Q: 1. A promise to repay $93,000 eight years from now at an interest rate of 9%. 2. An agreement to…

A: Present value illustrates the current value of a sum of money that will be received or paid in the…

Q: Your bank pays 8% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: Future value refers to the future worth of a present sum whereas the future value of an annuity is…

Q: Find the compound amount for the deposit and the amount of interest earned. $8900 at 8.7% compounded…

A: Future value is the estimated value of current assets that is discounted at an assumed rate of…

Q: Find the amount necessary to fund the given withdrawals. 2) Quarterly withdrawals of $ 650 for 6…

A: Present value refers to the money present today having more worth than the money will receive in…

Q: A regular deposit of $120 is made at the beginning of each year for 20 years. Simple interest is…

A: Simple interest is the interest paid or computed only on the principal amount of money. It odes not…

Q: Find the compound amount for the deposit and the amount of interest earned. $6700 at 3% compounded…

A: The amount that you invest today gets compounded. This happens because compound interest is computed…

Q: $30,624 is put into an empty savings account with a nominal interest rate of 0.1. No other…

A: Initial amount (P) = $30624 Interest rate = 0.1 = 10% per annum = 5% semiannually n = 10 years = 20…

Q: Halep Inc. borrowed $10,771 from Davis Bank and signed a 8-year note payable stating the interest…

A: Annual payment amount = Loan amount/Present value of annuity factor

Q: Colton received a loan of $44,700 at 8.1% compounded semi-annually and settled the loan by making…

A: A loan refers to a contract where an amount is borrowed on the promise of future repayment along…

Q: Find the accumulated value 32 years after the first payment is made of an annuity on which there are…

A: Future value (FV) is the value of an investment or asset at a specified point in the future based on…

Q: Given a 6.25 percent interest rate, compute the year 6 future value of deposits made in years 1, 2,…

A: Future value is an important tool For investors, understanding the future value is essential since…

Q: Compute the present value of a $2,200 deposit in year 3, and another $1,700 deposit at the end of…

A: The objective of the question is to calculate the present value of two future deposits of $2,200 in…

Q: Compute the amount that can be borrowed under each of the following circumstances: (PV of $1. FV of…

A: We need to multiply the table value with amount to arrive at present value..Present value = Future…

Q: Hinton Inc. borrowed$35,000for 7 years at a simple interest rate of6.1%. The interest was to be paid…

A: Formula:I=PrtI= InterestP= Principal amount = $35,000r= Interest rate = 6.1%t=time in years =…

Q: 16. You deposited $5000 into an account at an annual interest of 8% compounded semiannually. What is…

A: using excel fV function