Josie wants to be able to celebrate her graduation from CSULA in 4 years. She foundan annuity that is paying 4%. Her goal is to have $5,000.00.Assume the interest rate remains the same while the account is open. Round allanswers to the nearest penny.How much should be deposited each week?Weekly Deposit$How much will be in the account at the end of the 4 years?Future ValueHow much will she have deposited, in total?Total$How much interest, in total, will be earned?Interest

An annuity refers to a payment series where a periodic amount is provided in exchange for a lump sum…

Answered: Josie wants to be able to celebrate her…

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 16PROB

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Josie wants to be able to celebrate her graduation from CSULA in 4 years. She found an annuity that is paying 7%. Her goal is to have $5,000.00. Assume the interest rate remains the same while the account is open. Round al| answers to the nearest penny. How much should be deposited each week? Weekly Deposit How much will be in the account at the end of the 4 years? Future Value 24 How much will she have deposited, in total? Total 24 How much interest, in total, will be earned? Interest If Josie wanted to make a single deposit into a savings account that earns 7% compounded weekly to reach her goal, how much would that deposit be? Single Deposit $ P Type here to search DII F5 PrtScn Home F9 End F3 F6 F7 %23 2$ 6 7 8. 9. Q W E R
Josie wants to be able to celebrate her graduation from CSULA in 5 years. She found an annuity that is paying 7%. Her goal is to have $3,000.00. Assume the interest rate remains the same while the account is open. Round all answers to the nearest penny. How much should be deposited each week? Weekly Deposit How much will be in the account at the end of the 5 years? Future Matur How much will she have deposited, in total? How much interest, in total, will be earned? 0 Q O Qu Qu Qu Sur
Abby Ellen wants to attend Ithaca College. She will need $75,000 6 years from today. Assume Abby's bank pays 6% interest compounded semi-annually. What must Abby deposit today to have $75,000 in 6 years?
Sara wants to make a deposit now into an account that earns 3% annually so that she will be able to withdraw an amount of $125 at the end of each of the next 5 years. How much should she deposit today?
A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $80,000 saved up for when she goes to college in 15 years, assuming the account earns a 8% annual return. Annual deposit:
I need Question 4,5 and 6 Joanna has $1,500 to put into one of two savings accounts. The first pays 5.6% simple interest each year. The second pays 4.8% annual interest compounded monthly. Use a TVM Solver is necessary. Write an equation to model the balance of the first account after any number of years (t). 2. How much money will she have after 15 years in the first account? 3.How many years until Joanna would have $3,500 in the first account? 4. Write an equation to model the balance of the second account after any number of years (t). 5.How much money will she have after 15 years in the second account? 6.How many years until Joanna would have $3,500 in the second account? 7.Which account would you recommend for Joanna? Explain your answer.
Holly Krech is planning for her retirement, so she is setting up a payout annuity with her bank. She wishes to receive a payout of $1,900 per month for twenty years. (a) How much money must she deposit if her money earns 7.8% interest compounded monthly? (Round your answer to the nearest cent.)___________ $ (b) Find the total amount that Holly will receive from her payout annuity. Thank you!
PLEASE ANSWER IT ASAP FOR AN UPVOTE. I NEED IT NOW. 3. Karen deposits P100 at the beginning of each month into an annuity that pays a 6% annual interest at the end of each year. How much will she have in this account at the end of 5 years? (
Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of each month. If interest on the account is 5% compounded quarterly, for how long does Laura have to deposit the money? Please include the cashflow diagram and what kind of annuity formula can we use on this question aside from the excel format?
A certain account pays 3.12% interest compounded weekly. Audrey wishes to invest money into this account today so that she will be able to withdraw $100 every week for the next year a) How much must she invest today b) How much interest does she earn
Karen wants to have $22,011 in her investment account in 6 years. If her bank offers an annual compound interest rate of 2% with monthly compounding, how much should she deposit today?
Karen wants to have $22,559 in her investment account in 5 years. If her bank offers an annual compound interest rate of 1.2% with monthly compounding, how much should she deposit today? Round your answer to the nearest dollar.

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