Julie deposited some money in a savings account this morning. Her money will earn 5 percent interest, compounded annually. After five years, her savings account will be worth $5,000. Assume she will not make any withdrawals. How much did she deposit this morning?

Q: At age 18, Susan did nothing. She waited until she was 28 to start depositing $2000 per year at the…

A: Annuity, A = $ 2,000Interest rate, r = 12%Number of annuities = n = 65 - 28 = 37

Q: Luke deposited $3500 into a savings account that earns 5.50% annually but is compounded 4 times per…

A: Future value of money is the amount of deposit done and amount of compounded interest accumulated…

Q: How long (in years) will it take for her investment to amount to $6,000?

A: Time value of money (TVM) means that the amount received in the present will have more value than…

Q: Starting on the day Thomas was born, his mother has invested $50 at the beginning of every month in…

A: Future value:The future value of payments represents the accumulated value of periodic investments…

Q: On a child's first birthday, a parent wishes to deposit enough money so that the child can withdraw…

A: Present Value of annuity = Annual payments * PVAF(rate, number of years) Present Value = Future…

Q: Jennifer Nelson deposited $500 into a savings account earning 3%, compounded semiannually. After 5…

A: Principal = $500 Interest = 3% (compounded semi annually) n=2 (semi-annually) t= 5 years   Formula…

Q: A year ago your Aunt Sheri deposited $ 1 comma 000 in a bank account. One year later, there was $ 1…

A: To find the Annual Percentage Rate (APR) compounded monthly, we can use the formula for compound…

Q: Obtain today's value of the investment account.

A: The time value of money implies that the cash in hand at present has a higher value than the cash…

Q: Your sister just deposited $9,000 into an investment account. She believes that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: Please i need full details solution with explanation.

A: The objective of the question is to find out the original investment made by Victor in his savings…

Q: Leticia is twenty-two years old and she has all of her savings in a Certificate of Deposit (CD. at…

A: The financial principle of investment revolves around balancing risk and return. Investors seek to…

Q: Susan Myer had invested $2500 in an ABC bank Certificate of Deposit when she inherited trust funds…

A: Calculation of Compound Interest Rate per monthly   Formula  r = n[(A/P)1/nt-1] Where r = Annual…

Q: Nick invested $2,000 in a bank savings account today and another $2000 a year from now. If the bank…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: Leon wants to save a classic car so he deposits $1500 at the end of the years into a savings account…

A: We need to use future value of ordinary annuity formula to calculate worth of deposit after 5 years.…

Q: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: Value of sister's investment account in 7 years is calculated using following equation Future value…

Q: Two years ago my daughter was born. On the day she was born I put $4000 into an account for her. The…

A: Future worth is the worth of current amount at some future specified date considering compounding…

Q: Michelle Payne deposited $16,000 in a savings account paying 6.25% simple interest. How long (in…

A: Calculation of Time Period of Deposited Amount Simple Interest Formula  A = p (1 + rt) Here A =…

Q: A 40 year old woman puts $1500 in a retirement account at the end of each quarter through 20 years…

A: Time Value of Money states that a dollar earned today is more valuable than any time in the future,…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Jamie earned $14 in interest on her savings account last year. She has decided to leave the $14 in…

A: This is because Jamie's $14 in interest from last year will be added to the principal balance of her…

Q: Some time ago, Marie took out a loan from the bank to purchase an apartment. The terms of the loan…

A: in this we have to find effective interest rate and than find out present value FACTOR.

Q: Starting on the day Kelly was born, her mother has invested $50 at the beginning of every month in a…

A: The objective of the question is to calculate the future value of a series of monthly deposits for…

Q: Sara deposited $3000 in an account that earns 5.5% simple interest. How much money will be on…

A: A = P * (1 + rt) A = final amount p = Present value r = Interest rate T…

Q: Shelly deposits the $2000 she got as a birthday gift from her grandmother into an account earning…

A: The company would be considering the value for future through the compounding of interest rates over…

Q: Lisa deposits $80,000 into an account that pays 6% interest per year, compounded annually. Scott…

A: We need to use simple interest and compound interest formula to calculate Interest earning Simple…

Q: A mother earned $18750.00 from royalties on her cookbook. She set aside 20% of this for a down…

A: The interest earned from all the categories of investment that a single investor has made is known…

Q: Gina deposits her inheritance into an account earning interest of 4% compounded annually. She will…

A: A/P = 2 (because Gina wants her inheritance to double)r = 4% = 0.04n = 1 (since it's compounded…

Q: e has $1,500 in credit card debt but pays it in full every month from cash flow. He also pays her…

A: Net worth is amount of ownership or may say equity and increase in net worth means how much is…

Q: Victor has been consistently withdrawing money from his savings account for several years. If he…

A: The objective of the question is to find out the original investment that Victor made in his savings…

Q: Isabella placed $5,000 in a savings account which earns 5.3% interest, compounded every year. How…

A: The formula used as follows: A=P×1+rn

Q: Stella deposits $54,000 in a savings account at a bank that offers interest of 5.3% on such…

A: The objective of the question is to calculate the future value of Stella's savings account after…

Q: 3 years ago, Heather won some money in the lottery and put it in a bank account that earns 8%…

A: Time = t = 3 YearsInterest Rate = r = 8%Future Value = fv = $100