£ In a bank account that pays interest 8% p.a, what should you deposit now to have a balance of £2,000 a year from now? Enter an answer correct to 2 decimal places.

Q: 2. Use this information to answer the following questions: a) Let's say you invest $10,000 into each…

A: Computation A:

Q: You wish to accumulate $60,000.  You make 14 quarterly deposits into a savings account with an…

A: Amount required (F) = $60,000Number of deposits (n) = 14Quarterly interest rate (r) = 0.12Amount of…

Q: What is the interest earned in a savings account after 12 months on a balance of $4000 if the…

A: Since compounding is annually and we have to find the interest earned for 12 months, formula would…

Q: A bank pays 6% interest, compounded semiannually. Use the appropriate formula to find how much…

A: Present Value of Annuity Due refers to a concept which dictates the discounted value of cash flows…

Q: compounded

A: Formula to calculate preset value: PV = FV/(1+r/n)^nt Where PV is the present value, FV is the…

Q: 4. How much should you deposit in an account so that you can withdraw $5300 every year for the next…

A: Given that, Annual Withdraw (A)=$5300 Duration (n)=18 years Rate of interest (i)=6% or 0.06   Amount…

Q: You want to have $65,000 in your savings account 11 years from now, and you're prepared to make…

A: Solution:- When an equal amount is deposited each period at end of the period, it is called ordinary…

Q: A deposit $400 today in an account paying 7% per year. What would be the balance in your account…

A: We need to use compound interest formula to calculate account balance after 6 years A=P(1+i)n where…

Q: The value of $60 deposited in a bank for six years at a rate of 10% compounded annually is:

A: Future value = Present value(1 + Rate)^Time

Q: klp.3

A: The objective of this question is to calculate the future value of a one-time deposit of $4,353 at…

Q: How long will it take $47,000 placed in a savings account at 10% interest to grow into $72,000? OA.…

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

Q: 2. Albert Frost's savings account. $820 on deposit. 6% annual interest rate. Time is 3 months. Find…

A:

Q: 1. In a bank account that pays interest 2% p.a, what should you deposit now to have a balance of…

A: Future value is the amount that existing assets are worth at a specific future date after they have…

Q: What will a deposit of $2500 at 7.8% compounded semiannually be worth if left in the bank for six…

A: Formula for Future Value FV=PVx(1+r/2)nxt Where, FV = Future Value PV = Present Value r = rate of…

Q: as a Hint When working with money, round to the nearest cent after you have made the final…

A: When an individual deposit money in banks, or financial institutions, he receives interest on the…

Q: You invest $8,500 in a savings account that pays interest of 4.8% compounded monthly. To the nearest…

A: The future value function is applied when the investor wants to know how much he/she will get after…

Q: With an initial deposit of 200 dollars, the balance in a bank account after t years is f(t) =…

A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…

Q: Carol made a deposit of $1027.00 into a bank account that earns interest at 7.9% compounded…

A: The amount that will be deposited today will be more in dollar terms (not in worth) as the amount of…

Q: 11. Use Figure 5.5. On March 20, Paul Herzog deposited $1,000 into his savings account that pays…

A: Here in this question, we are required to calculate the interest though compounded interest method.…

Q: What will a deposit of $5500 at 7.8% compounded monthly be worth if left in the bank for 5 years?…

A: In the TVM calculator the input parameters will be: N  = 60 (5 years * 12 months in a year = 60) I%…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 7% interest. a.how…

A: Working note:

Q: 4. Problem 5.04 (Time for a Lump Sum to Double) еВook If you deposit money today in an account that…

A: The period of time in which the investment amount gets double can be estimated using the Rule of 72.…

Q: Suppose that a capital of £2700 earns £400 of interest in a bank account over 4 years. en that…

A: Simple interest rate is a way to calculate the interest on a loan or investment that doesn't take…

Q: What will a deposit of $4500 at 7.8% compounded semiannually be worth if left in the bank for six…

A: N  = 6 years * 2 semi-annual period in a year = 12 I% = 7.8 PV = - 4500 Pmt = 0 P/Y = 2 (as…

Q: If you earn 5% per year on your bank account, how long will it take an account with $110 to double…

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

Q: Find the tripling time with 4 decimal places on a bank account that pays 7.2% APR if interest is…

A: Compounding is referred to the concept in which the interest earned on an investment also earns…

Q: 10. The table shows the amount in a simple interest account. Time (years) 0 1 2 3 4 Amount ($) 100…

A: The question is related to concept of Simple Interest. Simple Interest may be defined as Interest…

Q: What is the amount of interest owed if $7,850 is borrowed at 6.55% for 1 year? Round to two decimal…

A: Interest is the charge paid to the money lender for borrowing something in monetary terms. It is…