It is now January 1, 2002. Your plan to make 5 deposits of $200 each, one every 6 months, with the first payment being made today. If the bank pays a nominal interest rate of 11 percent but uses semiannual compounding, how much will be in your account after 10 years.

Q: A. You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being…

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

Q: You will deposit $250 per year for 3 years into an account that earns 6%. The first deposit is made…

A: Deposits per Year is $250 for three years Interest rate is 6%   To Find:- Amount in account after 4…

Q: You deposit $62000 into an account which pays 3% compounded monthly. You leave the money in the…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: What lump sum of money must be deposited into a bank account at the present time so that ​$6000 per…

A: Here,Annual Withdrawal Amount is $6,000Time Period of Withdrawal is 9 yearsStarting of withdrawal…

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: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…

Q: What will be the final balance at the end of year 23 if you make a deposit of 88,000 at the end of…

A: Future values refer to the concept of determining the future worth of current money deposits.

Q: Today You deposit 2000 dollars on Your bank account for 3 years. The annual interest rate is 5%. How…

A: Future value can be calculated usingFV = PV* (1 + r / n)ntWhere,PV = Present valueFV = Future valuer…

Q: Use PMT= to determine the regular payment amount, rounded to the nearest dollar. Your cre has a…

A: Loans are paid by monthly payments and these monthly payments carry the payment for interest and…

Q: You would like to contribute to a savings account over the next three years in order to accumulate…

A: Compound = Quarterly = 4Number of Payment = n = 3 * 4 = 12Interest rate = i = 14 / 4 = 3.5%Payment =…

Q: If the bank states an effective interest rate of 13.5% per year, and there are 52.15 weeks, how much…

A: Formula for calculating weekly interest rate is:

Q: You plan to deposit $3,000 at the end of each year for three years, starting with the first deposit…

A: The future value of annual deposit beginning today is calculated using the following equation Where,…

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: will be making end of month deposits of $800 into the account for 12.5 years. How much will you need…

A: The future value is an estimate of how much money you will have in the future from investments or…

Q: A bank has two options for a certificate of deposit of $4000. Option A has an annual interest rate…

A: Future value refers to the value of the current asset at some future date on the basis of inflation,…

Q: How long will it take to save $2581.00 by making deposits of $227.00 at the end of every month into…

A: Amount to be saved is $2581.00 Interest rate is 7% compounded monthly Monthly deposit $227 To Find:…

Q: How much should be deposited now into an account earning 8.4 % interest per year, compounded every 6…

A: Compound = 6 months = Semiannually = 2Interest Rate = r = 8.4 / 2 = 4.2%Payment = p = $1500Time = t…

Q: 7.  Your goal is to have $15,000 in your bank account by the end of eight years. If the interest…

A: The future value of an annuity is a financial calculation that represents the total value of a…

Q: 7. If you want to collect ¢ 5,000,000 in 4 years and for this you make deposits every end of the…

A: N = 4*12 FV = 5,000,000 rate = 18%/12 PV = 0 use PMT function in Excel value of deposit before…

Q: The stated interest rate on your account is 8%, interest compounded monthly. If you deposit $50 each…

A: Future Value Annuity is the technique of determining the furure value of a series of regular…

Q: Suppose you walk into a bank and want to make a 10-year deposit. Bank manager tells you that the…

A: Annual deposits = $10,000Period = 10 yearsInterest rate = 5%

Q: You currently have $4,000 in a bank account that pays an annual rate of 1%, compounded monthly.  You…

A: Dear student, we need to use NPER formula to calculate number of periods(N) in excel.

Q: It is now January 1. You plan to make a total of 14 deposits of $7,000 each, one every 3 months with…

A: To calculate the future value of the deposits, we can use the formula for the future value of an…

Q: ssume that you have a balance of $4600 on your Discover credit card and that you make no more…

A: Credit cards are financial instruments that allow users to borrow funds up to a predetermined limit…

Q: deposit $1,000 in an account that earns an APR of 5% compounded once per year a) How long will it…

A: Future value of the amount includes the amount of deposit done and amount of compounded interest…

Q: 27. You hope to accumulate an account balance of $20,000 in 4 years by making a single deposit…

A: We need to calculate the amount to be deposited today - present value (PV)Future Value (FV) =…

Q: 5. You are considering moving your money to a new bank offering a one-year CD that pays an 8% APR…

A: The effective annual rate (EAR) can be calculated using the formula,

Q: You have to repay a liability of $30,000 after 3 years from now. A bank is offering you 9% fixed…

A: A monthly deposit refers to an amount that is deposited every month in the bank on which the bank…

Q: What lump sum of money must be deposited into a bank account at the present time so that ​$600 per…

A: Monthly withdrawal (C) = $600 Monthly interest rate (r) = 0.0025 (i.e. 1 / 400) Number of monthly…

Q: You have $75,000 in the bank right now. What equal annual amount (beginning one year from today) can…

A: Present value = pv = $75,000 Time = t = 13 years Interest rate = r = 8% Future value = fv = $50,000…

Q: You deposit $87000 into an account which pays 4% compounded quarterly. You leave the money in the…

A: Compound = Quarterly = 4Present Value = pv = $87,000Interest Rate = r = 4 / 4 = 1%Time = t = 10 * 4…

Q: An investment promises to pay into an account that pays you 6 percent annually, $150 per month for…

A: The question is based on the concept of Annuity

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

A: Computation:

Q: Suppose you deposit $9,000 into your bank account at the beginning of each of the next 5 years…

A: The future value refers to the future worth of an investment, asset or cash amount at a specific…

Q: LEASE HELP ASAP The client has made a deposit in the bank in the amount of 10,000$. The duration of…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to…

A: Number of withdrawals = 18 Monthly interest rate = 1% First deposit of $108 in 6 months. Increase in…