Metehan Atay invests 550 pounds per week in the bank for an investment that will earn him 20% per year. If he continues to deposit money continuously for 8 years in this way, what will be the amount of his money at the end of the eighth year?

Q: money will Slats Slattery accumulate at the end of twenty years if he presently has $175,000 and…

A: Future value of money is the amount of investment done and amount of interest accumulated over the…

Q: hael wants to have $68,000 in 12 years on a savings plan that requires monthly contributions. If he…

A: Future value of investment includes the amount being deposited over the years and amount of interest…

Q: ichael wants to have $57,000 in 11 years on a savings plan that requires monthly contributions. If…

A: Future value of investment includes the amount being deposited over the years and amount of interest…

Q: Jennifer is planning her retirement. She currently has $6,783 in an IRA account that will return 8%…

A: Deposit = $6783Return = 8%Yearly savings = $2000Return = 7%Years until retirement =32To find: the…

Q: Michael wants to have $60,000 in 11 years on a savings plan that requires monthly contributions.  If…

A: Future value is the estimation of future cash value which is likely to be received in the future…

Q: Gary decides to set up a retirement fund by depositing $182 at the end of each week for 17 years.…

A: Calculation of Amount at the end of 17 years:To calculate the amount at the end of 17 years, the…

Q: Omar wants to buy a house in another 7 years. The type of house he wants to buy is currently selling…

A: Future value: Future value is $97,435.86

Q: Katrina is planning to make an additional investment at the end of each year for his retirement in…

A: Future value of an amount can be calculated by compounding that amount by using the interest rate…

Q: Rohit invests $ 1 every year starting from the end of the current year. If his savings earn an…

A: Solved using Financial Calculator  PMT = +/- 1 I/Y = 15 FV = 20 CPT N = 9.92 = 10 years

Q: receives his first $121,890.95 payment in 3 years and his last $121,890.95 payment in 7 years, then…

A: The rate of return is used to assess an investment's profitability. It determines the gain or loss…

Q: Alex estimates that he will have $47,500 in student loans by the time he graduates. The interest…

A: Here, Present Value is $47,500 Interest Rate is 7.2% Therefore, the Monthly Interest Rate is : Time…

Q: To secure the future of his son, a man plan to deposit P50,000 in a bank account every quarter for 5…

A: Effective interest rate There is different frequency of deposited amount and the compounding of…

Q: Jeremy is investing $5,000 today and will do so at the beginning of another nine years for a total…

A: The future value of the annuity due is the future worth of a cash flow series receivable/period at…

Q: Peter invests $1,000 dollars and hold it for five years. The interest rate is 10% compounded…

A: FUTURE VALUE  Future Value is the Value of Current Sum of Money in Future. Future Value is…

Q: Jake Werkheiser decides to invest $8000 in an IRA at the end of each year for the next 6 years. If…

A: The future value refers to the value of an investment or an amount of money at a specified point in…

Q: Patrick makes payments of $250 per month at the end of each month. At the end of 10 years, he wants…

A: The rate of interest required to have the desired amount can be calculated with the help of rate…

Q: Maria wishes to accumulate $8,000 by the end of 5 years by making equal, annual, end-of-year…

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

Q: Syariqul Haq is trying to save up for a big vacation. He plans to take a trip around Japan when he…

A: Future value  The future value indicates the value of a current investment over a specified period…

Q: Janet Lopez wishes to establish a trust fund from which her son can withdraw $15,000 every six…

A: The objective of the question is to find out the initial amount that Janet needs to deposit in the…

Q: John invests $ 350 on the last day of each month into an account for 4 years compounding monthly at…

A: Monthly investment = $350Interest rate = 7.5%Total number of years = 7 yearsNumber of years of…

Q: Bro decides to take out a loan for $50,000 for 5 years at 7% monthly. If he pays an extra $200 per…

A: Installment is the periodic amount paid by the borrower to the lender in order to pay back the loan…

Q: John and Rosamond want to retire in 10 years and can save $170 every three months. They plan to…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: Brandon is scheduled to receive payments of $1,200 each month for the next 2 years, with the first…

A: A payment (PMT) of $1200 is expected every month for 2 years or for (n) 24 months , which is then…

Q: Tristan will deposit $254 into an account every two weeks (26 times per year). The account earns an…

A: Future value refers to the value of a current asset at some future date using inflation or…

Q: Sally has decided to invest $70 at the end of each mouth into a retirement plan that has an annual…

A: Computation:

Q: Josh has an investment account with $50,000. If Josh earns 6% per year and contributes $400 each…

A: Future Value = Present Value * ( 1 + Intererst rate) time period

Q: Debbie invests $5,500 in her IRA account each year for 40 years.  If she earns 7% return annually on…

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