Every year on 1st January between 2020 and 2049 inclusive (so 30 times), you deposit $1,000 into a bank account. Each year, the bank account returns a rate of interest equal to that year less 2000. (So in 2020, the account earns 20%, in 2021, 21% etc). How much will you have in the bank account on 31st December 2049, just after that year's interest has been paid? A $35,734,347.81 B $35,734,347.82 C $35,734,347.83 D $35,734,347.84

Every year on 1st January between 2020 and 2049 inclusive (so 30 times), you deposit $1,000 into a bank account. Each year, the bank account returns a rate of interest equal to that year less 2000. (So in 2020, the account earns 20%, in 2021, 21% etc). How much will you have in the bank account on 31st December 2049, just after that year's interest has been paid? A $35,734,347.81 B $35,734,347.82 C $35,734,347.83 D $35,734,347.84

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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Similar questions

Derek will deposit $1,696.00 per year into an account starting today and ending in year 17.00. The account that earns 6.00%. How much will be in the account 17.0 years from today? Submit Answer format: Currency: Round to: 2 decimal places.
17. You deposit $8,000 in a bank account today. You make another deposit of $14,000 into the account in year one and you make a third deposit of $10,000 in year two. The bank pays interest at 8 percent compounded annually. How much will you have in your account at the end of year 3? * O a) $37,207 b) $35,207 O c) $39,207 O d) $40,502 e) None of the above
3. Compound interest Old Time Savings Bank pays 4% interest on its savings account. If you deposit $1,000 in the bank and leave it there: a. How much interest will you earn in the first year? b. How much interest will you earn in the second year? c. How much interest will you earn in the tenth year?
Need help with following questions 1,2,3,4,5
You decide to make monthly $2000 deposits into an account that pays 4% compounded monthly. If your first deposit was on January 1, 2019, then how much is in the account immediately after the deposit on January 1, 2025?
You deposit $ 7,812 in your account today. You make another deposit at t = 1 of $ 6,946 . How much will there be in your account at the end of year 1 if the interest rate is 11.9 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer:
It's the first day of the year and you currently have $3,500 in the bank. You plan to deposit $200 at the end of every year for the next 56 years, with the first payment made 1 year from now (payments from t=1 to t=56 inclusive). If bank interest rates are 1% pa, how much money will be in your bank account a moment after making your last deposit in 56 years? Question 3 Select one: a. $6,110.33 b. $14,654.33 c. $14,700 d. $21,026.53 e. $21,236.8
On March 1, 2021, you opened an account with a deposit of $500. You plan to continue to make $500 deposits every year until March 1, 2040, when you will make your last deposit. How much will be in the account on March 1, 2050 if the account earns 5% annually?
Suppose you deposit $1,093.00 into an account 4.00 years from today that earns 11.00% . It will be worth $1,622.00 years from today.
if you deposit $190, $250, and $300 in a savings account at the end of the years 2017, 2018, and 2019 respectively how much money will be there in the account at the end of 2019 if you earn an interest of 5.3% per year on your savings?
please step by step solution.
You need to have $31,000 in 5 years. You can earn an annual interest rate of 3 percent for the first 3 years, and 3.6 percent for the next 2 years. How much do you have to deposit today? rev: 01_30_2018_QC_CS-115320, 02_01_2018_QC_CS-115650 $25,421.63 $26,432.03 $26,278.95 $26,740.87 $25,975.44

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