Question 13 4) Listen How much must you deposit in an account today so that you have a balance of $20,872 at the end of 14 years if interest on the account is 9% p.a., but with quarterly compounding? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign.

Q: + nt card has a balance of $5400 and an annual interest rate of 1 there are no further purchases…

A: Loans are paid by the equal monthly payments and these payments carry the payment for interest and…

Q: Question 6 What is the amount you can withdraw at the end of 20 years if you make $1,500 monthly…

A: Future value of ordinary annuity = A x [(1+i)^t - 1] / iwhereA = Periodic cash flow = Monthly…

Q: What is the nominal annual rate of interest compounded monthly at which ​$1663.00 will accumulate to…

A: Number of monthly periods = Number of years×12 =3.25×12=39 Monthly interest rate is calculated using…

Q: Question 3: Suppose you make $100 quarterly deposits to your saving account which earns an interest…

A: Quarterly deposit (q) = $100 Number of deposits (n) = 12 (i.e. 3 years * 4) Interest rate = 0.15…

Q: You agree to make 24 deposits of $500 at the beginning of each month into a bank account. At the end…

A: It is a case of an annuity due where deposits are done at the beginning of the month for 24 months.…

Q: ow much will you have to deposit into an account at the beginning of every 3 months for 20 years if…

A: Time, the value of money refers to the concept used for estimating the value of the present asset at…

Q: Joey realizes that he has charged too much on his credit card and has racked up $5,800 in debt. If…

A: Monthly interest rate = APRFrequency of compounding in a year Where, APR is annual percentage rate…

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: The future value of a present sum of money after n periods is given by the formula Future…

Q: What will be the accumulated amount in an investment account

A: As per the concept of the Time value of money, today’s money value has more valuable than tomorrow.…

Q: You deposit $ 6,957 in an account that pays 1 % simple interest. How much do you have after 12…

A: Deposit amount (P) = $ 6,957 Interest rate (r) = 1% Period (t) = 12 Years

Q: An investment of $837.00 earned interest quarterly. If the balance after 7 years was $1251.24, what…

A: Initial investment = $ 837Future value = $ 1251.24No of years = 7Number of quarters = 7*4= 28Find…

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: If you deposit OMR 8854 in your account in a bank. Suppose the bank pays 8% compound interest…

A: future value = present value*(1+rate)^n future value = 8854*1.08^7

Q: QUESTION 13 How much do you still owe on your auto loan if you have 41 remaining monthly payments of…

A: The loan amount is the total of principal with interest added over the period of time. When the…

Q: 4. What account should you invest your money in? (Hint. Calculate the APY of each account)  Account…

A: 1. APR= 3%, annual compounding 2. APR =2.75% monthly compounding

Q: compounded

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

Q: You're prepared to make monthly payments of $360, beginning at the end of this month, into an…

A: Given:FV = $25,390P = $360r (monthly interest rate)n=12 (compounded monthly)

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: If $15,500 is deposited in an account earning interest compounded continuously at 4.00% for 12…

A: Continously compounded interest rate:Continuously compounded interest rate represents a method of…

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 to $200 of interest if $1000 has been deposited into an account with an…

A: Time value of money tries to impart the concept and importance of monies worth today as compared…

Q: Suppose a savings account pays 7% annual interest with interest compounded daily (assume there are…

A: Daily compounding Nominal rate= 7% Number of compounding periods = 365 Deposit = 2578 N = 3285 days…

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: If $19,000 is deposited in an account earning interest compounded weekly at 5.87% for 13 years, what…

A: Effective Rate of Interest: It is the annual rate on a loan or investment considering the effects…

Q: How much amount should an investor deposit in an account earning a continuously compounded interest…

A: Time Value of Money states that a dollar today is worth more than anytime in the future. This is…

Q: SR 3,479 was deposited in a savings account that pays 10 percent interest compounded annually. How…

A: The future value is the future worth of the amount that will be paid or received at future.

Q: •How much money must you invest today in order to withdraw P 14,766 annually for6 years if the…

A: PVA formula: pvadUE =A×1-11+RNR×1+R

Q: Suppose you invest $1,500.00 in an account with an annual interest rate of 6% compounded monthly (6%…

A: Monthly deposit = $125 Monthly interest = 0.5% In contrasts to a fee that the borrower may pay the…

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: You just received your credit card statement that showed that you charged $120 with your card during…

A: The given details related to credit card debt are:Value of credit card debt: $120APR: 18%Period: 1…

Q: How much should you deposit in an account so that you can withdraw $5300 every year for the next 18…

A: Using excel PV function

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: Compute the value in 18 years of a $2,000 deposit earning 9 percent per year. (Do not round…

A: To calculate the future value we will use the below formula   Future value = PV*(1+r)n Where PV -…

Q: Your credit card has a balance of $3700 and an annual interest rate of 13%. You decide to pay off…

A: Given: Loan amount $3,700 Interest rate = 13% Years =1

Q: . If you were to deposit $399.27 into an account today that pays 8% interest annually, with a…

A: Present Value = pv = $399.27Interest Rate = rate = 8%Payment = pmt = $100Time = nper = 5 Years

Q: Use PMT= to determine the regular payment amount, rounded to the nearest dollar. Your credit care…

A: As per the given information: Loan amount (P)- $4900Interest rate (r) - 11.5%Payment frequency (n) -…

Q: You're prepared to make monthly payments of $260, beginning at the end of this month, into an…

A: The number of payments made can be calculated with the help of NPER function of Excel

Q: Question 6 You borrow $10,000 from a bank for three years at an annual interest rate of 12%…

A: Loan amount (PV) = $ 10,000 Annual interest rate = 12% Effective annual rate = (1+0.12/2)2-1…

Q: 14

A: Rule 72 is the equation that is best used to find the duration it would take to double the amount at…

Q: 1. Jenny puts $200 into a months. What would you

A: Future value refers to the value of a current asset at some future date affected by interest rate,…

Q: question 4 out 20

A: GUIDE: (1) Compound Interest A=P(1+nr​)ntwhere:A = final amountP = initial amount depositedr =…

Q: You are to make monthly deposits of $425 into a retirement account that pays an APR of 10.6 percent…

A: Future value= Present value* ([1 + I]^N - 1 )/I Present value = $425 I = 10.6/12 = 0.883% N = 31 x…

Q: You have an outstanding credit card balance of $2,000. You decide to stop making new charges and pay…

A: Number of months required to pay the amount is calculated using the present value of annuity…

Q: Suppose that you deposit $555 today in an account with an APR of 10% compounded monthly. How much…

A: The problem is asking us to calculate the interest earned on a deposit of $555 at an annual…