Every year you deposit $3,500 into an account that earns 19% interest per year, What will be the balance of your account immediately after the 40th deposit?Click the icon to view the interest and annuity table for discrete compounding when / 1% per year.Choose the correct answer below.O A. $165,837O B. $123,795OC. $171,102OD. $172,813OE. $140,000

As you deposit money into the annuity account the interest accumulated over the period of time and…

Answered: Every year you deposit $3,500 into an…

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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QUESTION 5 Katharine Bartle will receive an annuity of $4,090.00 every month for 23 years. How much is this cash flow worth to them today if the payments begin today? Assume a discount rate of 5.00%. Oa. $55,398.13 b. $2,119,880.47 c. $672,837.73 Od. $170,156.69
Amount of annuity expected $900 Payment Annually Time 4 years Interest rate 6% Present value (amount needed now to invest to receive annuity) $3,118.59 Check the correctness of annuity payment by completing the following table. Note: Round the answers the nearest cent. Opening balance ces Interest Annuity Closing balance Year 1 Year 2 Year 3 Year 4 3,118.59
webwork / mat110e_oncampus_f/ finance.set.3/6 Finance.set.3: Problem 6 Previous Problem Problem List Next Problem Eugene began to save for his retirement at age 31, and for 15 years he put $ 425 per month into an ordinary annuity at an annual interest rate of 9% compounded monthly. After the 15 years, Eugene was unable to make the monthly contribution of $ 425, so he moved the money from the annuity into another account that earned 9% interest compounded monthly. He left the money in this account for 19 years until he was ready to retire. How much money did he have for retirement? Retirement amount = If Eugene had waited until he was 43 years old to start saving for retirement and then decided to put money into an ordinary annuity for 22 years earning 9% interest compounded monthly, what monthly payment would he have to make to accumulate the same amount for 2. retirement as you found in the first part of the question? Retirement amount = 3.
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Téll me what you want to do Aa - 21 T AaBbCcDc AaBbCcDc AaBbC AaB A - - A- TNormal 1 No Spac. Heading 1 Heas Paragraph Styles 4. You deposit $500 eachmonth into an account earning 3% interest compoundedmonthly. a) How much will you have in the account in 13 years? b) How much total money will you put into the account? c) How much total interest will you earn? retirement in 30 vears. Your account earns 8% inte
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£ In a bank account that pays interest 8% p.a, what should you deposit now to have a balance of £2,000 a year from now? Enter an answer correct to 2 decimal places.
Auto 48 months hnttps//www.consumerscu.org/ Use the calculator at https:l/www.bankrate.com/calculators/auto/auto-loan-calculator aspx to calculate the monthly payment and the total interest someone will pay for the following scenarios: Suntrust Bank Monthly Payment (4.34% interest) Alliant Credit Union Monthly Payment (2.74% interest) Total interest Total interest paid paid $29,000 automobile with 10% deposit Monthly Payment (2.74% interest) Total interest Monthly Payment (4.34% interest) Total interest paid paid $29,000 automobile with $12,000 deposit
Question content area top Part 1 (Related to Checkpoint 6.4) (Present value of a perpetuity) What is the present value of a $ 220 perpetuity discounted back to the present at 8 percent? Question content area bottom Part 1 The present value of the perpetuity is $ enter your response here . (Round to the nearest cent.)

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Every year you deposit $3,500 into an account that eams 1% Click the icon to view the interest and annuity table for dir Choose the correct answer below DA. $165,837 OB. $123,795 OC. $171,102 OD. $172,813 DE. $140,000