If you deposit $110 every month for the next 7 years, with first deposit to be made today and all deposits to be made at the beginning of every year, in an account that pays 4.44% APR with quarterly compounding, how much money you'll have at the end of the 7th year?
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If you deposit $110 every month for the next 7 years, with first deposit to be made today and all deposits to be made at the beginning of every year, in an account that pays 4.44% APR with quarterly compounding, how much money you'll have at the end of the 7th year?
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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 annuityYou 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.If you decide to deposit $480 every year for the next 6 years, with first deposit to be made one year from today and all deposits to be made at the end of each year, in an account that pays 4.62% APR with annual compounding, how much is this account worth in today's dollars?
- You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6. Then after leaving the money in the account for several years, you plan to withdraw everything 15 years from today. How much is available to withdraw at the end of year 15 if the account pays a nominal annual rate of 8% compounded monthly?If you deposit $700 every year for the next 5 years, with first deposit to be made today and all deposits to be made at the beginning of every year, in an account that pays 3.76% APR with annual compounding, how much money you'll have at the end of the 5th year?You deposit $1.2 million into your account to cover expenses in the next 12 years. The account earns interest at the rate of 4%, compounded annually. Assume you expect the balance of the account to be $0 at the end of the 12th year. a) What annual level of living expenses will your initial deposit support? (e.g., what equal annual withdrawal can you make for the next 12 years)? b) Suppose you realize your living expenses will increase at an annual rate of 2% due to inflation. Determine the updated annual spending plan in line with this model: how much can you withdrawal at the end of the first year, knowing that your withdrawal will increase by 2% each year? c) Suppose the initial deposit is still planned to support your equal annual expenses in the next 10 years as in part a), but don't need to withdraw any money from your account for the first 6 years. You will withdraw from your account annually starting from the end of year 7 till the end of year 12. What annual level of living…
- If you deposit $6800 today in an account that pays 5.0% per year, compounded quarterly, how much money you will have in your account at the end of 8 years?If you want to have $7700 at the end of 9 years, how much money you need to deposit today into an account that pays 9.0% interest per year, compounded monthly?You want to have 75000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.4 percent interest, what amount must you deposit each year?
- You deposit $1.2 milion into vour account to cover expenses in the next 12 years. The account earns interest at the rate of 4%, compounded annually. Assume you expect the balance of the account to be $0 at the end of the 12th year. A) What annual level of living expenses Will your initial deposit support. (what equal annual withdrawal can you make for the next 12 years )? b) Suppose you realize vour living expenses will increase at an annual rate of 2% due to inflation. Determine the updated annual spending plan in line this model how much can you withdrawal at the end of the first year. knowing that your withdrawal will increase by 2% each year? C) Suppose the initial deposit is still planned to support vour equal annual expenses in the next 10 years as in part a but don't need to withdraw any money from your account for the first 6 years. You will withdraw rom your account annually starting from the end of year 7 till the end of year 12. What annual level of living expenses will your…You want to have $50,000 in your savings account 12 years from now, and you’re prepared to make equal annual deposits into the account at the end of each year. If the accounts payss 6.2 percent interest what must you deposit each year?You plan to deposit $100 at the end of every quarter (3 months) for 8 years starting at the end of month 3. Then after leaving the money in the account for several years, you plan to withdraw everything 15 years from today. How much is available to withdraw at the end of year 15 if the account pays a nominal annual rate of 8% compounded quarterly (every 3 months)?
