Find how much money needs to be deposited now into an account to obtain $900 (Future Value) in 9 years if the interest rate is 4.5% per year compounded monthly (12 times per year).

Q: Suppose you are planning to save money for a future expense. You decide to deposit $500 at the end…

A: Annuity Formula: The future value of an annuity, where payments are made at regular intervals and…

Q: In 2012 the maximum social security deposit by an individual was $8,386.75. Suppose you are 30 and…

A: Given that The yearly deposit amount PMT=$8386.75Interest rate r =3%=3100=0.03Componded annually ,…

Q: an insurance settlement of 750,000 must replace an injured workers income for the next 40 years.…

A: Given that, The insurance settlement amount, P=750,000. The rate of interest, r=6.2%. The time…

Q: suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

A:

Q: A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After…

A: we know the formula of future value  FV=PMT(1+i)n-1i where PMT - perodic payment  i - discount rate…

Q: "Shelly deposits the $2,000 she got as a birthday gift from her grandmother into an account earning…

A:

Q: Find what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

A:

Q: Suppose $5000 is invested at the interest rate of 6.4% per year compounded quarterly for 3 years.…

A:

Q: An investment account pays 4.8% compounded monthly. What equal monthly deposits should be made into…

A: An investment account pays 4.8% compounded monthly. What equal monthly deposits should be made into…

Q: Suppose that $1000 is deposited in a savings account that pays 6% per annum, compounded quarterly.…

A: Given: Initial deposit is 1000 dollars i.e. P=1000  dollars Rate of interest per year is 6% i.e.…

Q: Find the amount in a saving account at the end of 5 years if the amount originally deposited is $…

A: We have to find the amount in a saving account at the end of 5 years if the amount originally…

Q: Suppose instead Hanan didn't invest anything for the first 7 years while at new york, then deposited…

A:

Q: Suppose that $7,000 is invested at 4%, compounded semiannually. How much is in the account at the…

A: Amount for compound interest:If P amount of money is invested for t years at r% rate of interest…

Q: How much must be deposited now to withdraw $4,000 at the end of each year for 20 years if interest…

A: Calculate the present value of an ordinary annuity by using tables use the following steps. Step 1.…

Q: A person deposits $300 on the last day of each quarter into a savings account that pays 9​%…

A:

Q: the amount of money that would have to be deposited today into a savings account at 8% compounded…

A:

Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: How much money will i have if I am going to deposit 1000$ every month starting now for 5 years if…

A:

Q: Suppose $100 is withdrawn at the EOY 2026, emptying an account that earns 7% interest, compound…

A:

Q: At the time of her grandson birthday a grandmother deposits 10000$ in an account that pays 2.5%…

A:

Q: Kristy Joe deposits ​$110 each month in an ordinary annuity to save for a new car. If the annuity…

A: It is given that the Cash deposit per period is P = $110.Monthly interest rate is i = 1.03%. Time…

Q: Kristy Joe deposits $150 each month in an ordinary annuity to save for a new car. If the annuity…

A: We will find out the required savings for given ordinary annuity.

Q: You expect to retire in 30 years. After you retire, you want to be able to withdraw $4,500 from your…

A: Given: PMT=$4,500, Rate=4%, Total number of months=15×12=180To find: Amount of deposit per month…

Q: A deposit of $15,000 is made in a trust fund that pays 3.5% interest, compounded semi-annually. It…

A: Given that, the amount invested is: P=$15,000. The rate of interest is: r=3.5100r=0.035 The time is:…

Q: Suppose you invest $150 a month for 3 years into an account earning 9% compounded monthly. After 3…

A: Given- Suppose you invest $150 a month for 3 years into an account earning 9% compounded monthly.…