How much is accumulated in each of the following savings plans over X years? X= Y= Z= A= 1 years 30 $ 20 $ 24% $Y deposited at the end of each month at A% compounded monthly Try Again $Z deposited at the end of the first month, $Z+1 at the end of the second month, and so forth, increasing by $1 per month, at A% compounded monthly. Try Again

How much is accumulated in each of the following savings plans over X years? X= Y= Z= A= 1 years 30 $ 20 $ 24% $Y deposited at the end of each month at A% compounded monthly Try Again $Z deposited at the end of the first month, $Z+1 at the end of the second month, and so forth, increasing by $1 per month, at A% compounded monthly. Try Again

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

Suppose that each week, you deposit $43 into a savings account whose annual rate is 1.8% with weekly compounding. How much will you have in the account after 14 years? Round your answer to the nearest dollar.
Using a compound interest calculator, if you would deposit $10 each week into a savings account that paid a compound interest rate of 3.75% each year compounded monthly, how much would you have in your account in five years?
At what rate must funds be continuously added to a savings account in order to accumulate $13,000 in 5 years, if interest is paid at 6% per year, compounded continuously?
How much would you need to deposit in an account each month in order to have $10,000 in the account in 8 years? Assume the account earns 7% interest. Please step by step answer.
2.28. Suppose you have decided to put $200 at the beginning of every month in a savings account that credits interest at the annual rate of 6%, but compounds it monthly. Find the amount in this account after 30 years.
Saving Later Plan 2: Invest $350 at the end of each month into an account paying 7.5% compounded monthly for 15 years then leave the money in the account earning interest until retirement (making no additional withdrawals or investments until retirement). Using the assumptions above, write down your answer to each of the following questions. 19. Create the following table of values for this investment plan. Saving Later Plan 2, tuho table should be handwritten) to find the amount available after 15 years. Write N/A next to any variable that does not apply and write Solve next to the appropriate varlable. P%3D r = A = M = n = 20. Indicate the best formula to use to compute the amount available after 15 years. 21. Substitute the values into the formula and compute how much money will be available after 15 years.
Your savings account pays 6% annually. Assuming this interest rate remains constant, how much do you need to deposit in your savings account today to accumulate $200 in 4 years? Round to the nearest cent. O A. $164.17 O B. $158.42 OC. $172.38 O D. $186.81
Savings Plan Suppose you deposit $450 monthly into an account for seventeen years. The account has an APR of 4.2% compounded monthly. a. Find the ending balance (after 17 years). Answer: $ _____________ b. How much of the ending balance is money you deposited? (HINT: Find the total deposits.) Answer: $ _____________ c. How much of the ending balance is interest? (Use your rounded answer to part a.) Answer: $ _____________
Use 365 for the number of the days in a year. Calculate the future value (in dollars) of $1,150 deposited into an account earning an annual simple interest rate of 5% compounded daily after 3 years. Round your answer to the nearest cent
Your savings account pays 4% interest on the $40,000 you deposited at time 0. Inflation was 3% for 4 years and then 2% for 6 years. How much is in the account after 10 years in year-10 dollars? How much is that in year-0 dollars? What has been your real rate of return?
Suppose you invest $25 per week into an account that earns 2% compounded weekly. You make the deposits at the beginning of each week. If you continue to make these deposits for 40 years, how much will you save? Group of answer choices $73,443.56 $79,668.54 $53,040.00 $79,637.91
Future Value Computation You deposit $3,000 at the end of every year for three years. How much will accumulate in three years if you earn 8% compounded annually?Use Excel or a financial calculator for computation. Round your answer to the nearest dollar.

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