If someone put $615 in the bank every month with an annually interest rate of 6% compounded monthly how much money would they have after 10 years?
Q: Suppose you deposit $469 per week in a bank account for 5 years. The interest rate(APR) is 7.2%,…
A: present value of annuity = P * {1-[1/(1+r)^n]/r} Where, r = rate of interest per period i.e. 7.2%/52…
Q: How much money will be in a bank account at the end of 15 years if $100 is deposi ted today and the…
A: Following details are given in the question : Deposit today (Present value) = $100 Time period = 15…
Q: If you want to have $5600 at the end of 9 years, how much money you need to deposit today into an…
A: If you want to have $5600 at the end of 9 years, the money you need to deposit today into an account…
Q: First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City…
A: given, first bank simple interest=6%second bank compound interest =6%p=$7500n=10 years
Q: If you deposited $5000 in a bank that offers 12% annual interest rate, if the bank compounds the…
A: Deposit=5000Annual interest rate=12%Number of years=5years
Q: the bingo bank is paying 9% interest compounded monthly .a) if you deposit 1000 at the beginning of…
A: The future value of annuity due is the total future value of each cash flow which is made at the…
Q: How much money will be in the bank account at the end of 4 years if $5000 is deposited at the end of…
A: Future value: It implies to the value that an investment will carry at some point of time in future…
Q: If you deposit $9,000 in a bank account that pays 10% interest annually, how much will be in your…
A: Calculate the future value as follows: Future value = Amount * (1+ rate)^ years
Q: You invest $ 1.000 in a bank account to buy a house at annual interest rate 14 per year, compounded…
A: Present Value (Investment in bank)= $1,000 Annual Interest rate (r)= 14% per year compounded monthly…
Q: Suppose your bank pays 10% interest, compounded semiannually. Find out how much should be deposited…
A: Present value is the amount a person is willing to pay now, in order to get an amount for a…
Q: If you deposit $10 000 in a bank account that pays 10 interest annually, how much will be in your…
A: Present Value is a current value of a future amount that is receivable or payable. While, Future…
Q: You invest 10.000 dolar in a bank account to buy a house at annual interest rate 14 per year,…
A: Given: Investment = 10,000 Interest rate = 14% Years = 10
Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…
A: Future value of a value is the amount which the grow from the principal amount to future amount with…
Q: Suppose that you place $1,000 in a bank account each year for the next 20 years. How much would be…
A: Annuity means finite no. of payments which are same in size and made in equal intervals for the…
Q: You deposit $4000 each year into an account earning 4% interest compounded annually. How much will…
A: Future value of annuity = Annual payment x [(1 + i)n - 1]/i i = Interest rate n = number of years
Q: how much money will be in the account? How much of it is interest?
A: Annuity payments are the fixed periodic payments that an investor or depositor makes into an…
Q: How much money do you have to put into a bank account that pays 10% interest compounded annually to…
A: Present value is the today's value of the investment.
Q: 1. If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in…
A: Dear Student, as per Bartleby answering guidelines we can answer only the first one if the student…
Q: You deposit $4000 in an account earning 3% interest compounded monthly. How much will you have in…
A: The amount after 10 years will be the future value of the initial deposit.
Q: If you borrow $29834 with an annual rate of 12% compounded monthly and make a payment of $403 every…
A: The borrowing is the amount that is borrowed by the person, a company from any of the financials…
Q: How much do you have to invest today in a savings account that returns 6.5% interest, compunded…
A: Amount after 10 years = $25,300 Amount Invested =Let P Years =10 Interest Rate(r) =6.5% compounded…
Q: If P10,000.00 is deposited each year for 9 years, how much annuity can a person get annually from…
A: First we need to calculate future value of annuity for 9 years by using this equation FV of annuity…
Q: If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be…
A: Future value of a lumpsum deposited today can be calculated using the future value…
Q: f you deposit $10,000 in a bank account that pays 10 percent interest annually, how…
A: Future value = Principal*(1+r/100) ^n Where, r = rate of interest n = no. of years
Q: You invest $5,000 into a money market account that pays interest monthly (e.g., interest is…
A: Future Value = Present Value * (1+r)^n Where, n = no. of compounding period i.e. 3 years * 12 = 36 r…
Q: You deposit $4000 each year into an account earning 8% interest compounded annually. How much will…
A: given PMT = 4000 n= 20 years i=8% FV = ?
Q: You open a bank account, making a deposit of $300 now and deposit of $1000 every other year (the…
A: Amount deposit now for 10 years = 300 Amount deposited every year from & at the end of 2nd year…
Q: You deposit $400 each month into an account earning 3% interest compounded monthly. Round to the…
A: Monthly deposit (m) = $400 Monthly interest rate (r) = 0.0025 (i.e. 0.03 / 12) Monthly period (p) =…
Q: Suppose you have decided to put $200 at the beginning of every month in a savings account that…
A: Compound Interest Formula: Future Value of Annuity (A)=P×1+rnn×t-1rn Where, A=final amountP=initial…
Q: You deposit $3000 each year into an account earning 5% interest compounded annually. How much will…
A: Annuity payments: It refers to the fixed payment made in series or equal time intervals. Example:…
Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…
A: Annual deposit (P) = $ 3000 Annual interest rate(R) = 2% Period (N) = 35 Years
Q: If a person deposits $10,000 at 10% per year simple interest, what compound interest rate would…
A: Compound interest (also known as compounding interest) is the interest on a loan or deposit that is…
Q: If P30,000 is deposited each year for 9 years. How much annuity can a person get annually from the…
A: An annuity refers to a fixed amount or stream of payments or deposits made. Therefore, it helps in…
Q: Suppose that $1,500 is placed in a bank account at the end of each quarter over the next 20 years.…
A: Use the following formula to calculate the effective interest rate (EIR). Where i is the effective…
Q: If you initially invest $3500 in an account that earns 4.7% interest compounded daily, how much will…
A: Initial investment (PV) = $3500 Interest rate (r) = 4.7% Number of compounding per year (m) = 365…
Q: If you deposit 10000 in a bank account that pays 10% interest annually, how much will be in your…
A: The amount in the account after 5 years is future value of the deposited amount. Future value can be…
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: Here. Required Amount in 8 Years (FV) is$60,000 Interest Rate (r) is 9% Time Period is 8 years
Q: You deposit $300 each quarter into an account earning 5.8% interest compounded quarterly. a) How…
A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…
Q: How much would be in your savings account in 10 years after depositing $50 today if the bank pays 7…
A: Given details : Present value of investment = $50 Time period = 10 years Interest rate = 7% We…
Q: How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank…
A: Given details are : Present value = $1500 Time period = 12 years Interest rate = 5% We need to…
Q: Suppose you deposit $20,000 in an account today that pays 4% interest, compounded annually. How long…
A: Here, 20,000 is deposited today and future value is $80,000. Want to calculate how many years it…
Q: If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your…
A: In the given question we require to compute the future value from following details: Present value =…
Q: If you want to have $7700 at the end of 9 years, how much money you need to deposit today into an…
A: Present Value refers to the value of cash flows today which is to be received at some future time…
Q: You deposit $4000 in an account earning 2% interest compounded daily. How much will you have in the…
A: Given, Deposit amount = $4000 Interest rate = 2% Compounding = Daily
Q: If you put $6,000 in a savings account that yields an 1% rate of interest compounded daily, what…
A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…
Q: How much would be in your savings account in 7 years after depositing $100 today if the bank pays 5…
A: Using excel FV function
Q: You deposit $1000 each year into an account earning 8% compound annually. A) How much will you have…
A: ordinary annuity-in which payment is end of each period. annuity due :-payment is made at beginning…
Q: Suppose you want to have $700,000 for retirement in 20 years. Your account earns 10% interest. How…
A: Future value (FV) = $ 700,000 Period = 20 Years Number of monthly payments (n) = 20*12 = 240…
If someone put $615 in the bank every month with an annually interest rate of 6% compounded monthly how much money would they have after 10 years?
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityCalculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- How much would be in your savings account in 7 years after depositing $100 today if the bank pays 5 percent interest per year?How much would be in your savings account in 11 years after deposting $150 today if the bank pays 8 percent per year?If you deposit OMR 8415 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years.
- If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be in your account after 5 years?If you deposit OMR 12500 in your account in a bank. Suppose the bank pays 8.25% compound interest monthly. Calculate future value of your money in 17 years.How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank pays 5 percent per year.
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