On March 1, 2021, you opened an account with a deposit of $500. You plan to continue to make $500 deposits every year until March 1, 2040, when you will make your last deposit. How much will be in the account on March 1, 2050 if the account earns 5% annually

Q: You wish to have $10,000 on August 1, 2026.  You plan to to make monthly deposits into an account…

A: The question is based on the concept of Future value and annuity

Q: You will deposit $250 per year for 3 years into an account that earns 6%. The first deposit is made…

A: Deposits per Year is $250 for three years Interest rate is 6%   To Find:- Amount in account after 4…

Q: You are to make monthly deposits of $725 into a retirememt account that pays an APR of 10.1 percemt…

A: Future value is the expected value of current regular deposit at a future date, at a given rate of…

Q: You decide to make annual deposits of $300.00 for 12 years into an account which pays 5% compounded…

A: Annual deposits = $300 Time duration = 12 years Interest Rate = 5%  The future value of the annuity…

Q: You need $58000 on March 15, 2024. How much do you need to deposit each quarter in an account…

A: Future value refers to the worth or value of cash flows. Cash flows are compounded at the rate of…

Q: A stock is currently selling for $22.00 per share. Ignoring interest, determine the intrinsic value…

A: Call option gives option buyer the right to by the Stock at a strike price at a specified time in…

Q: A worker saves for retirement from year 2035 to year 2056, starting with $10,000 in 2035 and…

A: Annuity is the amount that can be withdrawn from amount saved over period of time for retirement.

Q: If the bank compounds interest annually, how much will you have in your account on January 01, 2021?

A: It has been given in the question that the interest which a bank credits into the account has been…

Q: Click to see additional instructions Starting on January 1, 2022, you put $1200 every year into…

A: The Future value of annuity due is the total future value of each cash flow which is made at the…

Q: What will be the final balance at the end of year 23 if you make a deposit of 88,000 at the end of…

A: Future values refer to the concept of determining the future worth of current money deposits.

Q: A person agreed with a bank to deposit an amount of 500 dinars at the end of each year starting from…

A: The compound value of money can be depicted as the amount of interest generated on interest earned…

Q: January 1, 2022, you open a checking account with the same bank that you have your savings account.…

A: Applicable interest rate is 0.02% Bi monthly deposits are of $25 Time period is 1 year To Find:…

Q: Pascal has recently opened an RRSP. He plans to deposit $ 965 at the end of every month for 20…

A: Here,Monthly Deposit $         965.00Time Period in Years20Nominal Rate5.90%Compounding Period (Semi…

Q: If you deposit $700 every year for the next 5 years, with first deposit to be made today and all…

A: Amount deposit per year = $700 Time period = 5 Years Interest Rate = 3.76%

Q: You plan to deposit $3,000 at the end of each year for three years, starting with the first deposit…

A: The future value of annual deposit beginning today is calculated using the following equation Where,…

Q: Your goal is to have $12,500 in your bank account by the end of eight years. If the interest rate…

A: Future Value = fv = $12,500Time = t = 8 YearsInterest Rate = r = 8%Annual Deposit type = at the end

Q: Pascal has recently opened an RRSP. He plans to deposit $ 733 at the end of every month for 20…

A: RRSP is the retirement plan and contribution made are tax free and used to accumulate fund for…

Q: You have $20,800.51 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The number of years required to accomplish the goal can be find out by using the future value of…

Q: At the beginning of January 2019, you placed $5,200 in a CD (certificate of deposit) account with an…

A: The FV of an investment refers to the combined value of the investment's cash flows at a future date…

Q: You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6.…

A: Answer: Calculation of the amount that will be available to withdraw at the end of year 15: The…

Q: You have just entered college and have decided to pay for your living expenses using a credit card…

A: Solution: An equal amount paid each period is known as annuity. Future value of annuity = PMT x…

Q: Assume that you deposit $ 1,310 each year for the next 15 years into an account that pays 15 percent…

A: The FV of an investment refers to the combined value of the cash flows of the investment at a…

Q: You will deposit $202 each of the next four years (the first deposit will occur one year from today,…

A: 92 COMPOUNDED ANNUALLY ROUNDED 2 DECIMAL 93 F G   94 INTEREST RATE 7.50%   95 NPER (n)  4…

Q: ou are planning to make monthly deposits of $190 into a retirement account that pays 10 percent…

A: Future value of money is the amount of deposit made over the period plus amount of interest…

Q: Suppose that you are to make annual deposit of $3,000 into a retirement account that pays 11%…

A: Future value of the amount is the worth of the current amount in some future specified date at given…

Q: Bozo the clown decides to start saving money. So, every month he deposits $200 into an account which…

A: The future value refers to the value of the annuity or the cash flow at the future date. The future…

Q: On June 3, 2014, Crystal Nelson deposits $8,000 in an account earning 2.5% compounded daily. What…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: You currently have a balance of $8,000 and you pay an interest rate of 12% per year on the card.…

A: Credit card  A tiny plastic card that may be used to purchase products or services without the need…

Q: Bozo the clown decides to start saving money. So, every month he deposits $200 into an account which…

A: because you have posted multiple questions we will answer the first question Only, for the remaining…

Q: You will make equal deposits into your retirement account each year for 10 years starting now (i.e.,…

A: Present value at 30 is:

Q: ou plan to make twelve monthly payments of $1000 at the end of each month in the year 2024. Given…

A: Present value is the equivalent of the future cash flow that is required in the future based on the…

Q: If you deposit$5,000in a 5 -year certificate of deposit earning2.0%per year, how much will it be…

A: This question provides information regarding the evaluation of an investment of $5,000 into a five…

Q: You currently have a balance of $9,000 and you pay an interest rate of 17% per year on the card.…

A: The outstanding balance is $9,000The interest rate is 17% per yearThe minimum payment is 3%The time…

Q: If you deposit $110 every month for the next 7 years, with first deposit to be made today and all…

A: In this we have to calculate equivalent monthly compounding rate and calculate the future value.

Q: In ten years time a person would like to have accumulated $22,109 so they can make a down payment on…

A: Here,Accumulated Amount (Fv) is $22,109Time Period (n) is 10 yearsAnnual Interest Rate (r) is…

Q: You want to invest a 201911130 $ in your saving account at the end of the first year and increase…

A: First Deposit = 201,911,130 Annual Increase = 1,200,000 Time Period = N = 11 years End of period…

Q: Click to see additional instructions Starting on January 1, 2022, you put $1200 every year into an…

A: Answer: Calculation of the accumulated money you will have in the account on December 31, 2026:…

Q: How much do you need to deposit on April 1, 2019, so that you can make a series of monthly…

A: Amount of monthly withdrawal(A)=$500 No. of withdrawals (n)=60 Rate per period (i)=0.0083

Q: Pascal has recently opened an RRSP. He plans to deposit $ 647 at the end of every month for 25…

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

Q: Every year on 1st January between 2020 and 2049 inclusive (so 30 times), you deposit $1,000 into a…

A: Future value refers to the value of the investment after compounding interest. Interest is the…

Q: You want to save $8,000 by November 1, 2024. You plan to make annual deposits. The first deposit…

A: A concept that implies the future worth of the money is lower than its current value due to several…