If you deposit $150 in an account with an APR of 6% and continuous compounding, the balance after 2 years is

Q: You deposit $ 330 each month into an account earning 5.6 % interest compounded monthly for 2 years.…

A: Interest is the amount earned or paid by investing or borrowing the amount from another party.…

Q: e future value and the interest earned

A: Future value refers to the amount of the current asset at some future date based on the assumption…

Q: You can afford monthly deposit of $85 into an account that pays 6% compounded monthly. How long will…

A: Monthly Deposit(PMT) = $85 Interest Rate = 6% Interest Rate per month(rate) =  6%/12 = 0.50% Future…

Q: How much must be deposited at the beginning of each year in an account that pays 3% compounded…

A: Time value tells that amount received today is of more value than that of receiving the exact value…

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: You deposit $63000 into an account which pays 5% compounded semiannually. How much can you withdraw…

A: Given:Principal (P) = $63,000Rate (r) for every six months = 5%Semi-Annually Rate = 5%/2 = 0.025…

Q: You are making $5,000 monthly deposits into a fund that pays interest at rate of 6% compounded…

A: We need to use the concept of time value of money (TVM) to solve the question. According to TVM, the…

Q: How much interest will an account earn if you deposited $605 at the end of every six months for 11…

A: Amount deposited$605Number of years11Interest rate3.50%

Q: You decide to make regular deposits every 2 weeks into an account that earns 5% annual interest,…

A: The future value of the deposits is $29,000. The annual interest rate is 5%. The maturity period is…

Q: You deposit 2,000 in an account that pays 7% interest compounded semiannually.after two years the…

A: The concept of time value of money will be used here. Money deposited today gets computed and hence…

Q: You deposit $23,000.00 in an account that pays 4% compounded annually and immediately start making…

A: In this question future value would also be find out so that payment per year can be find out.

Q: You deposit $24,000.00 in an account that pays 6% compounded quarterly and immediately start making…

A: In this problem you have to find out present value FACTOR and find out quarterly deposits.

Q: Calculate the future value after 3 years if $1,000 is deposited at 1.2% interest compounded monthly.

A: Calculate the future value after 3 years if $1,000 is deposited at 1.2% interest compounded…

Q: You deposit $64000 into an account which pays 5% compounded monthly. You wish to make semiannual…

A: Amount that can be withdrawn from account depends on the period of withdrawal and interest rate of…

Q: If you deposit $750 at 12.41% annual interest compounded daily, how much money will be in the…

A: P = $750r =0.1241n =364t = 4A =?

Q: You want to receive ​$700 at the end of each month for 5years. Interest is 8.1% compounded monthly…

A: Calculating the present value is especially helpful when planning for retirement. To determine the…

Q: How much money should be on the account today in order for annually withdrawals of $100.00 to be…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: If a deposit of $100 is made on the first day of each month into an account that pays 6% interest…

A: The compounding method is used to determine the future value of cash that is deposited today. Given;…

Q: final amount of money in the account if $1200 is deposited at

A: Compounding quarterly can be considered as the interest amount which is earned quarterly on an…

Q: Calculate the future sum of $1,200, given that it will be held in the bank for 5 years and earn 14%…

A: Below details are given in the question : Present value = $1200 Time period = 5 years  Interest rate…

Q: You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6.…

A: Answer: Calculation of the amount that will be available to withdraw at the end of year 15: The…

Q: If $6000 is deposited at the end of each half year in an account that earns 6.5% compounded…

A: The value of money refers to the concept that the value of money changes over time due to various…

Q: How much would you need to deposit in an account now in order to have $6,000 in the account in 8…

A: In order to solve this question one has to solve for the present value to know how much to save into…

Q: In three years, a person will begin making quarterly deposits of $45 in an account that pays 10%;…

A: Annuity refers to series of annual payment which are paid or received at start or end of specific…

Q: How much interest will an account earn if you deposited $605 at the end of every six months for 11…

A: The objective of the question is to calculate the total interest earned on an account where $605 is…

Q: A monthly deposit of $300 is put into an account earning 5% interest compounded monthly. Round to…

A: Solution:- When an equal amount is depsited each period at end of period, it is called ordinary…

Q: Determine the amount of money in a savings account at the end of 5 years, given an initial deposit…

A: Compounding: It is the practice by which the interest is credited both to an existing principal…

Q: Payments of $1000 each are made at the end of every year for 6 years to a savings account. Calculate…

A: Future value is an estimate of future cash flows ​​that may be received at a future date, discounted…

Q: You wish to save $58000 in an account which pays 7% compounded quarterly by making monthly deposits…

A: Given:   Expected value in the account in future  $58,000.00 Interest rate per year 7%…

Q: You wish to save $76000 in an account which pays 5% compounded semiannually by making annual…

A: FUTURE VALUE OF ANNUITY =A×1+RMN×m-1RM WHERE, A=annuity R=rate of interest N= number of years M=…

Q: Calculate the dollar amount that would be in a savings account at the end of 5 years, given an…

A: Initial investment (P) = 701 dollars Rate of interest (i) = 2.76% (Compounded monthly) Time period…

Q: Find the final amount of money in an account if $7,400 is deposited at 7.5% interest compounded…

A: The interest rate compounds semi-annually. Hence, the interest rate that should be considered is…

Q: You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at…

A: Perpetual annual withdrawal refers to the amount of repayment for n number of years forever. This…

Q: Calculate the initial amount that would be in a savings account at the beginning of 6 years, given a…

A: Given  Interest rate =  3.14% Number of years = 6 Years Final amount received = 256 Future value is…

Q: Find the final amount of money in an account if $5,300 is deposited at 6.5% interest compound semi…

A: Initial deposit (I) = $5,300Semiannual interest rate (r) = 0.0325 (i.e. 0.065 / 2)Semiannual period…

Q: You deposit $78000 into an account that pays 5% compounded quarterly. You leave the money in the…

A: Computation:

Q: You have taken out a 20-year loan of $72,000 with 3% interest (APR) compounded monthly and with…

A: Annual percentage rate (APR) is a rate that a person is paying annually after undertaking all the…

Q: You deposit $27,000.00 in an account that pays 4% compounded annually and immediately start making…

A: Given:

Q: how much interest will an account earn if you deposited $435 at the end of every six months for 7…

A: The objective of the question is to calculate the total interest earned on an account where $435 is…

Q: what amount must be deposited now in order to withdraw 2,000 at the beginning of each month for 3…

A: Here, Withdrawal Amount needed (PMT) is 2,000 Time Period of Withdrawal (n) is 3 years Interest Rate…