Determine the total amount that would be accumulated to his account by the end of 8th year.
Q: You make periodic deposits of $100 at the end of every six months to an account that pays 4.5%…
A: Part a: Calculating the Future Value of the Account 1. Interest Rate Per Period: The interest rate…
Q: Dylan deposits $10,000 now and makes an additional deposit of $5,000 at the end of Year 3 in the…
A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…
Q: Ms. Aay is considering to deposit $500 every six months, and would receive interest at an annual…
A: Semi annual deposit (P) = $ 500 Annual interest rate = 8% Semi annual interest rate (r) = 8%/2 = 4%…
Q: At the beginning of each month, Francisco deposits $7,500 into an investment account. If the…
A: Part 2: Explanation:Step 1: Calculate the number of months in 3 years.3 years = 3 * 12 months = 36…
Q: Wei Min opens a retirement account that pays 8%/year/month. For the next 30 years he deposits $300…
A: Given information regarding Wei Min's retirement account : Amount deposited : $300 per month Rate :…
Q: Joe plans to deposit $300 at the end of each month into a bank account for a period of 3 yr, after…
A: To solve this question we have to first find the future value of monthly annuity of $ 300 after…
Q: You have opened a financial instrument that requires the following for the next six years: An…
A: Annuity refers to series of equalized payments that are paid or received at start or ending of…
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: Harry Morgan plans to make 30 quarterly deposits of P200 into a savings account. The first deposit…
A: Solved using Financial Calculator N= 30 (7.5 * 4 = 30) I/Y = 8/4 = 2 PMT = 200 CPT FV = 8113.62
Q: At the end of every 6 months, Tomas deposits $20,000 into a savings account, which pays an annual…
A: Compound = Semiannual = 2Saving Deposits = d = $20,000Interest rate = r = 12.3 / 2 = 6.15%Time = t =…
Q: You deposit $700 at the end of each month into an account earning interest at an annual rate of r…
A: Future value of annuity Annuity is a series of equal payments at equal interval over a specified…
Q: Shiraz deposited $500 at the end of each year for 18 years in a savings account. If the account paid…
A: Using the Future value function in excel
Q: ones can deposit $5,000 at the end of each 6-month period for the next 12 years and earn interest at…
A: a) Future value of annuity = P * [ (1+r)^n - 1 ] /r Where, P =Periodic payment i.e. $5000 n = no.…
Q: A man deposits her annual bonus into a savings account that pays 8% interest compoundedannually. The…
A: In this question we need to calculate the amount in the saving account immediately after the fifth…
Q: You deposit $1,700 at the end of each year into an account paying 8.6 percent interest. a. How much…
A: ParticularAmountDeposits (PMT) $ 1,700.00Interest Rate (RATE)8.60%No. of Deposits (NPER)16
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: Find the future value of a deposit of $15000 at 6% interest compounded monthly for 11 years.
A: As per the guidelines if multiple questions are asked at once, then the solution for the first…
Q: On the first day of the year, a man deposits $4,000 in a bank at 8% per year, compounded annually.…
A: Deposit at the begining of the year is $4,000 Interest rate is 8% per year Withdrawal at the end of…
Q: You plan to deposit S500 in a bank account now and S400 at the end of the year. If the account earns…
A: The objective of the question is to calculate the balance in the bank account right after the second…
Q: You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account…
A: Solution: The amount in account after second deposit will be the future value of first deposit and…
Q: Jim makes a deposit of $12,300 in a bank account. The deposit is to earn interest compounded…
A: The solution, requires understanding of applications of time value of money. The formulae used will…
Q: At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8%…
A: Using FV function of excel
Q: A man deposits $19,000 at the beginning of each year for 9 years in an account paying 6%…
A: Future value refers to the method of time-value of money used for calculating the value of the…
Q: You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10…
A: Principal amount, P = $3,000 Interest rate, r = 1.26% Number of compounding periods, n = 10 The…
Q: Anthony plans to deposit $500,000 now and $10,000 every 6 months for 5 years into an account.…
A: Deposit now (D) = $500000 Semiannual deposit (A) = $10000 n = 5 years = 10 semiannual deposits…
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The future value of an investment is the amount accumulated in the account after a period of time.…
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The value of money differs with the time passage and the value of it at present is worth more than…
Q: Assume you deposit $5700 at the end of each year into an account paying 11.25 percent interest.…
A: Given: Deposit = $5,700 Interest rate = 11.25% Future value= ?
Q: You invest $3,000 in a certificate of deposit that matures after nine years and pays 5 percent…
A: If the interest is left to be accumulated then the compounding effect will come. That is interest on…
Q: Assuming you will be able to deposit $6000 at the end of each of the next four years in a bank…
A: Future Value of Ordinary Annuity refers to the concept which gives out the compounded or future…
Q: James made an initial deposit into an account of $1,000 at time t = 0, followed by five annual…
A: Present Value(PV) refers to current value of amount that is to be paid or received in future. It is…
Q: Joey chose to invest his money in an account that pays 2.3% annual interest compounded monthly.…
A: In a time series of deposits, the interest is compounded monthly. We have to find interest added…
Q: The parents of a child decided to make annual deposits into a saving account, with the first deposit…
A: Given Information: The first annual deposit was made on 6th birthday till 14th birthday The…
Q: Amy has an account that earns interest at a 10% annual effective rate of interest. She plans to make…
A: Annuity due is series of payments due at the beginning of each period. The future value of annuity…
Q: For 12 years, at the beginning of every month, Elsa deposits $200 into a savings account. Once the…
A: The cumulative value of an investment is the entire amount it now possesses, including the money…
Q: You decide to deposit $126 monthly in a 3.2% annual interest bearing account over the next 18 years.…
A: The future value of annuity is used to determine the value of a series of payments in future at a…
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: Suppose that the parents of a young child decide to make annual deposits into a saving account, with…
A: Value of money changes with time and is not same again tommorrow and this is due to interest rate…
Q: You plan to invest an amount of money in a five-year certificate of deposit (CD) at your bank. The…
A: future value formula: future value=present value×1+rmm×n given, r=12% n=5 years fv=$7500 m=4…
Q: essica wants to accumulate $13,000 by the end of 6 years in a special bank account, which she had…
A: We need to use future value of ordinary annuity formula to calculate monthly payment PMT =…
Q: Seamus has made deposits of $97.00 into his savings account at the end of every three months for 10…
A: The objective of the question is to find the final balance in Seamus's account after he has made…
A person is planning to deposit RO 1000 in a bank at the end of first year. Thereafter, he
wishes to deposit the amount with an annual increase of RO 100 for the next 7 years. The bank
gives an interest of 6%, compounded annually. Determine the total amount that would be
accumulated to his account by the end of 8th year.
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Suat opens a deposit account in a bank by depositing 10,000 TL. In addition, he will deposit 6,000 TL into the account one year later and 4,000 TL the following year. The deposit account is valued at the annual fixed effective interest rate %. Calculate the interest rate, i, if the value of the money in Suat's account is 22,000 TL at the time that Suat deposits 4,000 TL.
- Louis is saving for his retirement by making annual end of year deposits for 30 years into a bank account that pays interest at a nominal rate of 8% compounded quarterly. For the first 10 years the deposits are level at $5000 each year. After the 10 th year, each deposit is 3% more than the year before. A) Give an actuarial expression for the account balance after the final deposit is made ? B) What is the account balance after the final deposit is made ?You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account earns7% interest per year, what will be the balance in the account right after you make the second deposit?The parents of a child decided to make annual deposits into a saving account, with the firstdeposit being made on the child’s sixth birthday and the last deposit on the 14th birthday. Then,starting on the child’s 16th to the 19th birthday the withdrawals are $3,000, $3,400, $3,800, and$4,200 respectively. If the effective annual interest rate is 6% during this period of time.What are the annual deposits in years 6 through 14? Use a uniform gradient amount (G) inyour solution
- A person agreed with a bank to deposit an amount of 500 dinars at the end of each year starting from the year 2000 in order to be able to buy an apartment by the end of 2020. If he knows that this person has deposited only 15 payments, and that the compound interest rate is 2% annually, the total payments are required to be found at the end of the year. 2020.A person deposits an amount of 500 dinars on the tenth day of each month of the year 2020, and if the interest rate on the deposit is 1% annually, find out the amount of interest due to this person at the end of the year?The parents of a child decided to make annual deposits into a saving account, with the first deposit being made on the child’s sixth birthday and the last deposit on the 14th birthday. Then, starting on the child’s 16th to the 19th birthday the withdrawals are $3,000, $3,400, $3,800, and $4,200 respectively. If the effective annual interest rate is 6% during this period of time. What are the annual deposits in years 6 through 14? Use a uniform gradient amount (G) in your solution
- A man deposits $19,000 at the beginning of each year for 9 years in an account paying 6% compounded annually. He then puts the total amount on deposit in another account paying 8% compounded semiannually for another 7 years. Find the final amount on deposit after the entire 16-year period. He will have a final amount of $_ after the entire 16-year period.Your father offers to give you $400 on January 1, 2019. You will then make six additional equal payments each 6 months from July 2019 through January 2022. If your bank pays 8% compounded semiannually, how large must each payment be for you to end up with $1,000 on January 1, 2022? What is the Effective Annual Rate (EAR) earned on the bank account in part f? What is the Nominal Interest Rate or Annual Percentage Rate (APR) earned on the account?You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10 years and then move it into a savings account that pays 0.70% interest compounded annually. What is the final balance in your account at the end of 18 years?
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
![EBK CONTEMPORARY FINANCIAL MANAGEMENT](https://www.bartleby.com/isbn_cover_images/9781337514835/9781337514835_smallCoverImage.jpg)
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)