In seven years, we need to accumulate $95,000. How much should we deposit today if the annual interest rate is 6%, compounded annually?
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- How much must be invested now to receive $50,000 for 8 years if the first $50,000 is received in one year and the rate is 10%?If you deposit $5,000 4 years from today, how much will you be able to withdraw 10 years from today if interest is 8.5% per year compounded annually?A loan of $60,000 is due 10 years from today. The borrower wants to make annual payments at the end of each year into a sinking fund that will earn compound interest at an annual rate of 10 percent. What will the annual payments have to be? Suppose that the monthly payments earn 10 percent interest, compounded monthly. What would the annual payments have to be?
- You wish to have $40,000 dollars in 6 years. How much do you need to deposit today if the rate is 10% compounded monthly?If you need 6,000 5 years from now, how much of a deposit must you make in your savings account each year, assuming an 8 percent annual interest rate?You will receive 24 annual payments of $40,500. The first payment will be received 5 years from today and the interest rate is 6.9 percent. What is the value of the payments today?
- DoSix years from today you need $10,000. You plan to deposit$1,500 annually, with the first payment to be made a year from today, in an account thatpays a 5% effective annual rate. Your last deposit, which will occur at the end of Year 6,will be for less than $1,500 if less is needed to reach $10,000. How large will your last paymentbe?Suppose we are going to make monthly deposits in to an account with an annual interest rate of 4.1% compounded monthly for 18 years. How much should we deist doing that we have 1,000,000 at the end of 18 years?
- If you want to receive $1,000 each year for the next three years how much should you invest today? Assume the annual interest rate to be 10%.You need to have $31,000 in 11 years. You can earn an annual interest rate of 3 percent for the first 3 years, 3.6 percent for the next 2 years, and 4.3 percent for the final 6 years. How much do you have to deposit today?You will deposit $354 each year into an investment account that earns 5% interest (as an effective annual rate, EAR). Your first deposit will be exactly one year from today, and you'll make a total of 10 deposits. How much will be in your account 10 years from today?