If an accumulation of $700 is desired at the end of 4 years, what amount must be deposited now now to accomplish that goal, assuming an 8% interest rate, compounded annually?
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- What is the future value of $118,000 invested for 5 years at 11% compounded monthly? (a) State the type. A. ordinary annuityB. present value C. amortizationD. sinking fundE. future value (b) Answer the question. (Round your answer to the nearest cent.)What is the future value of $117,000 invested for 5 years at 14% compounded monthly? (a) State the type. present value future value amortization ordinary annuity sinking fund (b) Answer the question. (Round your answer to the nearest cent.)What annual deposit is necessary to have $15,000 in 7 years if all the money is deposited at 1.5% interest compounded annually? (a) State the type. amortization sinking fund ordinary annuity present value of an annuity present value (b) Answer the question. (Round your answer to the nearest cent.) $
- What's the answer?What is the future value of $650 deposited for one year earning an 10 percent interest rate annually? (Do not round intermediate calculations. Enter your answer as a whole number.)What are the future value and the interest earned if $3800 is invested for 7 years at 8% compounded quarterly? (Round your answers to the nearest cent.) Give typing answer with explanation and conclusion
- What is the future value of $775 deposited for one year earning an 8 percent interest rate annually? Note: Do not round intermediate calculations. Enter your answer as a whole number. Future valueIf $16800 is deposited in a savings account today, what amount will be available three years from today? The following future value interest factors are provided: Periods Future Value of 1 at 12% 1 2 3 5 1.120 1.254 1.405 1.574 1.762 O ($16800 x 1.120) + ($16800 x 1.254) + ($16800 x 1.405) O $16800+ 1.405 $16800 x 1.405 O $16800 × 1.120 x 3In each situation described below, identify the initial payment, the term interest rate, andthe number of compounding periods. An investment of $5000 at an APR of 3% compounded monthly, followed by anotherinvestment of $5000 made 2 years after the first. What is the value of the account after5 years?
- Complete the following using compound future value. Time 13 years, Principal $16,800, Rate 2%, Compounded annually. What is the amount? What is the interest?Use the formula for computing future value using compound interest to determine the value of an account at the end of 7 years if a principal amount of $16,000 is deposited in an account at an annual interest rate of 6% and the interest is compounded monthly The amount after 7 years will be S (Round to the nearest cent as needed.)Please show work. Thank you