Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank gives out 9% compounded quarterly, find the amount to his credit just after the last deposit?
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Solve and show complete solutions.
Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank gives out 9% compounded quarterly, find the amount to his credit just after the last deposit?
What monthly payment into a sinking fund at 8% compounded semi –annually will be needed to raise P50, 200 at the end of 2 years and 6 months?
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- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?
- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Jack would like to have RM 500,000 in his bank account in exactly 20 years to fund his retirement in Sabah. He opens an account today with a deposit of RM Y and each subsequent annual deposit will increase by 5%. Jack plans to make a total of 20 annual deposits. The annual effective interest rate is 6%. Determine Y.
- Answer the following problems. Show your solutions. Annuity 1. How much money will you accumulate by the end of year 10 if you deposit P 3,000 each for the next ten years in a savings account that earns 5% per year? 2. What deposit made at the beginning of each month will accumulate to P120,000 at 8% compounded semi-annually at the end of 10 years? 3. James deposited P150 at the beginning of each month for two years into his savings account. For the next four years he did not make any more deposits, leaving the money in the account. The bank charges 4% interest compounded monthly. What will the balance be after 12 years?PLEASE ANSWER IT ASAP FOR AN UPVOTE. I REALLY NEED IT NOW. 2. Jake deposits 1200 pesos at the end of each year into an ordinary annuity that pays 6% at the beginning of each year. What is the future value of the account at the end of 5 years?Larry wants to have $500,000.00 in 20 years. He found an annuity that is paying 3% with monthly compounding. Assume the interest rate remains the same while the account is open. Round all answers to the nearest cent. How much should be deposited each month? Monthly deposit He decides he can only afford $1,200.00 each month. How much will he deposit, in total? Total 24 What will the future account balance be? Future value 2$ How much interest, in total, will be earned? Interest Type here to search PrtScn FB Home F9 DII F6 F7 F3 F4 %23 24 & 4. 6. 7 8. 3. W E R
- A student plan to deposit P1, 500 in the bank now and another P3, 000 for the next 2 years. If he plans to withdraw P5, 000 3 years after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10%.Architect Santos is planning to retire in 15 years. He wishes to deposit an equal amount (A) every 6 months until he retires, so that, beginning one year after his retirement, he will receive annual payments of P600,000 for the next 10 years. Determine the value of A which he should deposit semi-annually if the interest rate 8% compounded semi-annually. Use equation of value with focal point at Year 15. Show Cash Flow Diagram.You need to have $50,000 at the end of 10 years. To accumulate this sum, you havedecided to save a certain amount at the end of each of the next 10 years and deposit it inthe bank. The bank pays 8 percent interest compounded annually for long-term deposits.How much will you have to save each year (to the nearest dollar)?
