How much money should be deposited today in an account that earns 8.5% compounded monthly so that it will accumulate to $9000 in three years? Click the icon to view some finance formulas. The amount of money that should be deposited is $. (Round up to the nearest cent.)

Q: If you put 1,000 in a savings account that yields an 7℅ annual rate of interest that is compounded…

A: Given: Present value = 1,000 Interest rate = 7% Periods = 25 weeks

Q: An investor wants to get back his 10000$ savings as 18106$ in the future by depositing it in the…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: Suppose an investment will pay $19,000 in 16 years from now. If you can earn 10.15% interest…

A: Given information: Future value of investment is $19,000 Number of years is 16, Interest rate is…

Q: How much will accumulate in three years by depositing $540 at the end of each of the next 12…

A: The future value can be compared by looking at how much money you will have in the future from the…

Q: Suppose an investment will pay $25,000 in 39 years from now. If you can earn 11.05% interest…

A: Calculate the present value as follows: Present value = Future value / (1+rate)^years.

Q: : identify the values for the variables, in write an equation that can be used to find the amount of…

A: Future Value: It is the future worth of the present sum of the amount and is estimated by the…

Q: For the following economic calculations, write the factors (multipliers) that should be used, in (i)…

A:

Q: Imagine you deposited $500 in a savings account that had an annual interest rate of 5% for 5 years.…

A:

Q: You are saving for a new car. You place $15,400 into an investment account today. How much will you…

A: Present Value (PV) of amount invested = $15,400Interest rate (r) = 2%, 4%, 6% or 0.02, 0.04,…

Q: . Suppose you have a bank account into which you make $100 deposits each month. You find a bank…

A: Periodic Payment = $100 Future Value = $2,000 Time Period = 15 Months

Q: If you want to have $60.000 in 8 years, how much do you need to deposit in the bank today if the…

A: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…

Q: if you place $1100 today into an account that pays simple interest and you have $6100 dollars in the…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: ose an investment will pay $21,000 in 19 years from now. If you can earn 16.35% interest compounded…

A: The today value will be the present value of future value considering the discount rate and period…

Q: You Save Bank has a unique account. If you deposit $7,250 today, the bank will pay you an annual…

A: In this case, the bank uses different interest rates for different periods, so we'll need to apply…

Q: Solve the following problems. Round your results to the nearest cent as needed. You need a loan to…

A: P = $24,200 (loan amount),(monthly interest rate),n=6×12 (number of months in 6 years).

Q: If you deposit $300 at the end of every month in a savings account that pays a nominal APR of 5% per…

A: Compounding refers to phenomenon of calculating interest where interest is added to the principal…

Q: Suppose you have accumulated $22,000 in credit card debt. If the interest rate on the credit card is…

A: Present Value = Annuity * PVAF (Periodic rate, Number of Periods )

Q: You would like to contribute to a savings account over the next three years in order to accumulate…

A: Compound = Quarterly = 4Number of Payment = n = 3 * 4 = 12Interest rate = i = 14 / 4 = 3.5%Payment =…

Q: An investment account returns 6.29% annually. You want to withdraw $ 10,000 each year for the next…

A: The present value of an annuity is the value today of a series of equal payments made at fixed…

Q: If you deposit money today in an account that pays 3.4% annual interest, how long will it take to…

A: Given information: Let us suppose the present value is $1,The interest rate is 3.4%Future value is…

Q: your initial investment. (Let B be the account balance in dollars and investment.) 8(t)= dollars (b)…

A: The value of money grow with time and interest rate due to accumulation of interest over the period…

Q: How much do you need to invest in an account earning an annual interest rate of 3.493% compounded…

A: The present value of an investment refers to the sum amount of money that will be required today in…

Q: In this project, you will use a graphing calculator to compare savings plans. For instance, suppose…

A: The objective of this question is to compare the final amount of money you would have after one year…

Q: Find how much money needs to be deposited now into an account to obtain $40,000 in 5 years if the…

A: Future value (FV) = $40,000 Period (n) = 5 Years Interest rate (r) = 7%

Q: You have $300 and a bank is offering 5.5% interest on deposits. If you deposit the money in the…

A: FV = PV * (1 + r)^nWhere FV = Future ValuePV = Present Value = $300r = rate of interest = 5.5%n =…

Q: A) calculate the amount of money you will have after 25 years if you deposit $150 each month in an…

A: Monthly deposit: Monthly deposits are instructions to the bank or financial institution to take a…

Q: You have $5,340.25 in your savings account today. Every two weeks (26 times a year) $200 will be…

A: A savings account is a deposit account that pays interest and is kept at a bank or other financial…

Q: You want to be able to withdraw $50,000 each year for 20 years. Your account earns 8% interest. a)…

A: a) Hence, the amount in the account at the beginning is $490,907.37 b) Hence, the total money pull…

Q: If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much…

A: PV=FV/(1+i)^n (PV= present value FV= Future value i= discount rate  n= Number of period ) FV=…

Q: How much should you deposit now into a certificate of deposit (CD) at a bank, if the CD matures 10…

A: To calculate the principal amount deposit in the bank , we have to use the following formula : A = P…

Q: If you deposit the money in the bank, how much will you have in one year?

A: The time value of money implies that the cash in hand at present has a higher value than the cash…

Q: You put $6,150 in the bank for 15 years at 5%. Using the Future Value of 1 Table, what factor would…

A: Future Value is known as Terminal Value. The accrued amount of FVn  on principal amount after n…

Q: a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A: Future value is the value that an investment will have in the future after earning a certain rate of…

Q: 1. If you receive $176 each month for 12 months and the discount rate is 0.04, what is the future…

A: In this Question we require to calculate the Future Value of Cash flows received every month for 12…

Q: If you put $850 in a bank today that pays (a) 13% interest per year, how much money could be…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: Suppose you have decided to put $200 at the end of every month in a savings account that credits…

A: Future value of annuities includes the amount being deposited and amount of compounding interest…

Q: If you want to have $22,327 in fifteen years, how much do you need to deposit in a bank account…

A: The deposit required today is calculated as the present value.

Q: One can solve for payments (PMT), periods (N), and Interest rates (1) for annuities. The easiest way…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…