O nym plans to deposit $140 in an account at the end of each month for the next three (3) years so she can take a trip. a. If Kym's opportunity cost is 6 percent compounded monthly, how much will she have in the account in three years? Do not round intermediate calculations. Round your answer to the nearest cent. $ b. How much will be in the account if the deposits are made at the beginning of each month? Do not round intermediate calculations. Round your answer to the nearest cent. $

O nym plans to deposit $140 in an account at the end of each month for the next three (3) years so she can take a trip. a. If Kym's opportunity cost is 6 percent compounded monthly, how much will she have in the account in three years? Do not round intermediate calculations. Round your answer to the nearest cent. $ b. How much will be in the account if the deposits are made at the beginning of each month? Do not round intermediate calculations. Round your answer to the nearest cent. $

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 11PROB

See similar textbooks

Similar questions

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.
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.
Kym plans to deposit $130 in an account at the end of each month for the next three (3) years so she can take a trip. If Kym's opportunity cost is 9 percent compounded monthly, how much will she have in the account in three years? Do not round intermediate calculations. Round your answer to the nearest cent. How much will be in the account if the deposits are made at the beginning of each month? Do not round intermediate calculations. Round your answer to the nearest cent.
To help with a down payment on a home, Elsa is going to invest. Assuming an interest rate of 1.73% compounded annually, how much would she have to invest to have $36,800 after 7 years? Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas. $0 S oo E D
Jill wants to make a few deposits so that she can withdraw $5000 per year at the end of each year for the next 15 years. A deposit of X is made a year from now, a second deposit of 2X is made at the end of year 4, and a deposit of (X/2) is made at the end of year 8. What is the amount of X if the goal is to empty the account? Use 6% interest.
Linda Williams expects to need $ 42,000 for a down payment on a house in six years. How much would she have to invest today in an account paying 6.25 percent in order to have $ 42,000 in six years? (Round answer to 2 decimal places, e.g. 52.75.) $ Present value
To help with a down payment on a home, Teresa is going to invest. Assuming an interest rate of 1.64% compounded monthly, how much would she have to invest to have $39,400 after 8 years? Do not round any intermediate computations, and round your final answer to the nearest dollar. If necessary, refer to the list of financial formulas.
K. Tanja wants to establish an account that will supplement her retirement income beginning 30 years from now. Find the lump sum she must deposit today so that $400,000 will be available at time of retirement, if the interest rate is 10%, compounded quarterly. How much must Tanja invest? P= (Round to the nearest cent as needed.)
Check My Work еВook Starting next year, you will need $20,000 annually for 4 years to complete your education. (One year from today you will withdraw the first $20,000.) Your uncle deposits an amount today in a bank paying 7% annual interest, which will provide the needed $20,000 payments. a. How large must the deposit be? Do not round intermediate calculations. Round your answer to the nearest cent. $ b. How much will be in the account immediately after you make the first withdrawal? Do not round intermediate calculations. Round your answer to the nearest cent. $
You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3 percent interest. How much will you have in your account if you make deposits for 25 years? (Do not round Intermedlate calculations and round your answer to 2 declmal places, e.g., 32.16.) b. How much will you have if you make deposits for 50 years? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. a. Future value of 25 deposits b. Future value of 50 deposits K Prev 4 of 30 Next > EA9F9D41-D35...jpeg 8A1B4474-4751...jpeg 8A1B4474-4751...jpeg peg
Mary plans to invest some money so that she has $2,500 at the end of three years. Determine how much should she invest today given the following choices: (Do not round intermediate calculations and round your final answer to the nearest penny.)a. 4.2 percent compounded daily. Amount required to be invested $ b. 4.9 percent compounded monthly. Amount required to be invested $ c. 5.2 percent compounded quarterly. Amount required to be invested $ d. 5.4 percent compounded annually. Amount required to be invested $
Suppose you have estimated that you will need $2,500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4% APR . What principal, or balance, will your account need to maintain in order to be able to pay you this amount each month? Round/take your answer to the nearest cent.