Current Attempt in Progress John and Patricia Garfield invested $7,600 in a savings account paying 4% annual interest when their daughter, Angela, was born. They also deposited $1,200 on each of her birthdays until she was 17 (including her 17th birthday). Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 17th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.) Amount on 17th birthday Save for Later $ Attempts: 0 of 1 used Submit Answer

Current Attempt in Progress John and Patricia Garfield invested $7,600 in a savings account paying 4% annual interest when their daughter, Angela, was born. They also deposited $1,200 on each of her birthdays until she was 17 (including her 17th birthday). Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 17th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.) Amount on 17th birthday Save for Later $ Attempts: 0 of 1 used Submit Answer

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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Using the following information about the family’s assets and liabilities, calculate the total assets: Checking account: $3,000 Savings account: $13,000 Credit card balance: $5,500 Utility bill: $500 Home: $320,000 Mortgage (30 years): $210,000 Car: $25,000 Car loan (60 months): $18,000 Student loan (7 years): $25,000 Household items: $15,000 Retirement account: $64,000 Other assets: $39,000 A) 464,000 B) 400,000 C) 415,000 D) 479,000
Melissa and Parker each deposit the money they earn at their summer jobs in bank accounts that pay different interest deposits $520, and Parker initially deposits $550. The table shows the amounts they have in each of their accounts for th Time (quarters of a year) 1 2 3 4 Melissa's Total ($) 520.00 527.80 535.72 543.75 Parker's Total ($) 550.00 555.50 561.06 566.67 What is the total in the 8th quarter for each person? Round your answer to the nearest cent. Melissa's Total: $ type your answer... type your answer... Complete the sentence below for the money in the 12th quarter. Rounded to the nearest cent, in quarter 12, Melissa's total with be $ type your answer... , and Parker's total will be $ type your answer... So, Melissa will have choose your answer... money than Parker. choose your answer... less more .Parker's Total: $ Complete the sentence below for the money they will have earned after 16 quarters,. Rounded to the nearest cent, after 16 quarters, Melissa will have earned $…
On the day you were born, your parents opened than the amount deposited in the previous year Immediately after your parents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to which of the following? OA $80,839 OB $27,958 OC. $99,002 a college savings account with an initial deposit of $2.200 On every one of your birthdays since, your parents have made an additional deposit that is 3% larger The account eams 6.7% interest annually OD $30,000 OE $29,050 The deposit made on your 18th birthday will be the final deposit made into the account You plan on using the balance in the account to fund your college education You will be attending a 4-year institution and you will assume that tuition costs will remain constant over the next four years. If the first annual tution payment wit be made on your 19th birthday, what is the maximum annual tabon expense that the balance in your account can sustain if you plan on attending college for four…
Bob has deposited $10,000 at the end of each year into a saving account for the last 12 years. His deposits earned interest at 4% for the first 4 years; at 5% for the next 3 years; and at 6% for the last 5 years. (a) What is the accumulated value in his saving account at the end of year 4? (b) What is the accumulated value in his saving account at the end of year 7? (c) What is the accumulated value in his saving account at the end of year 12? (d) What is the total interest earned for the 12 years?
Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86
Diana Rene’s deposited an inheritance of 13,050 in a bank account and earned 435 in Simple bankers interest at a rate of 10.5% find the length of time the money was on deposit
Domestic
Rick deposited $3,300 into an account 14 years ago for an emergency fund. Today, that account is worth $5,930. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?
Mrs. Pores invested ₱150,000 in a bank that pays an 13% interest converted monthly. If her account balance today amounts to ₱168,900, approximately how many months did she invest her money? Group of answer choices
1. Prior to starting college, Rita Rivera's parents deposited $15,000 in a 5-year certificate of deposit (CD) at Liberty Bank that pays 4% interest. Rita will receive the money, plus interest, if she completes her bachelor's degree at the end of the 5 years. Determine the balance in Rita's account after 5 years.
Ten years ago, Jane deposited $5,500 into her savings account. Five years later, she added an additional $2,500 to her account. During the first 5 years, her account earned an interest rate of 6.5 percent compounded annually, while the last 5 years saw her account earn 5.0 percent interest compounded annually. How much money does Jane have in her account today?

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