Six years from today you need $10,000. You plan to deposit $1,400 annually, with the first payment to be made a year from today, in an account that pays an 8% effective annual rate. Your last deposit, which will occur at the end of Year 6, will be for less than $1,400 if less is needed to reach $10,000. How large will your last payment be? Do not round intermediate calculations. Round your answer to the nearest cent. $

Q: You plan to deposit $6,000 at the end of each of the next 25 years Into an account paying 10.3…

A: Perodic Payment(PMT) is $6,000 Per Year Interest rate is 10.3% Time Period 25 years & 50 Years…

Q: You are scheduled to receive $19,000 in two years. When you receive it, you will invest it for six…

A: Present value means today's value of the future value of money. It means that the present time…

Q: You need $82,000 in 12 years. If you can earn .49 percent per month, how much will you have to…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: To supplement your planned retirement, you estimate that you need to accumulate R 220, 000 in 42…

A: Formulas: Future value = Annual payment *((1+rate)^years-1)/Rate

Q: You have 45,589.25 in a brokerage and you to deposit an additional 5,000 at the end of every future…

A: Time value of money concept will be applied here. Money deposited in an account grows as the amount…

Q: Six years from today you need $10,000. You plan to deposit $1,600 annually, with the first payment…

A: Future value=$10000Annual deposit=$1600Interest rate=7%Calculate last deposit.

Q: You need $24,056 at the end of 6 years, and your only investment outlet is an 8 percent long-term…

A: An estimate of the present value of hypothetical future cash flows for a given time period at an…

Q: You are planning to make monthly deposits of $370 into a retirement account that pays 9 percent…

A: Compound = monthly = 12Monthly Deposit = d = $370Interest Rate = r = 9 / 12 = 0.75%Time = t = 35 *…

Q: (Comprehensive problem) You would like to have $59,000 in 15 years. To accumulate this amount, you…

A: Annuity is the series of equal cash payments over the period.

Q: (Comprehensive problem) You would like to have $57,000 in 13 years. To accumulate this amount, you…

A: Here,ParticularsValuesFuture value (FV) $  57,000.00Number of years (NPER)13.00Interest rate…

Q: (Comprehensive problem) You would like to have $52,000 in 12 years. To accumulate this amount, you…

A: Future value = $52,000Period = 12 yearsInterest rate = 10% compounded annually

Q: . How much will you have at the end of the 26 years? (Do not round intermediate calculations and…

A: Future Worth: It represents the future value of present periodic annuity payments or the future…

Q: What will be the value in your account at the end of Year 30?

A: Future Value of Annuity: It represents the future worth of the annuity payments made for a given…

Q: Six years from today you need $10,000. You plan to deposit $1,500 annually, with the first payment…

A: Solution:

Q: Six years from today you need $10,000. You plan to deposit $1,400 annually, with the first payment…

A: Future value represents the future worth of present cash flows. It is calculated by compounding the…

Q: You are planning to make monthly deposits of £400 into a retirement account that pays 7 per cent…

A: The future Value accumulated after depositing a regular amount for the period compounding with the…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,050 per year - with the…

A: The objective of this question is to find out how many years it will take to accumulate $10,000 by…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year - with the…

A: The FV of an investment refers to the combined value of the cash flows of the investment after they…

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: You want to purchase a new car in 6 years and expect the car to cost $84,000. Your bank offers a…

A: A monthly deposit refers to an amount deposited every month for the accumulation of money at the end…

Q: You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent…

A: Given:

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year with the…

A: Future value is an estimate of future cash values ​​that may be received at a future date,…

Q: You are planning to make monthly deposits of $300 into a retirement account that pays 8 percent…

A: Future value is the amount of money worth at a future date. This can be calculated based on the time…

Q: your $10,000 goal? Do not round intermediate calculations. Round your answer up to the nearest whole…

A: Annual PMT=1400Future value=10000Interest rate=r=9%

Q: Suppose you start saving today for a $30,000 down payment that you plan to make on a house in 7…

A: Down payment = $30,000Number of years = 7APR = 8%To find: Amount of deposit made in the account…

Q: ont uplode any image in answer (Comprehensive problem)  You would like to have ​$70,000 in 15…

A: Annual deposit required depends on the time and interest rate and these changes with change in…

Q: You have $17,500 you want to invest for the next 40 years. You are offered an investment plan that…

A: Interest rate is the rate charged by the lender for the money loaned . It is usually expressed as an…

Q: You are considering purchasing an investment contract that will eventually pay you $4,000 per year…

A: Present value refers to the money present today being more valuable than the money will receive in…

Q: You expect to receive $27,000 at graduation in two years. You plan on investing it at 9.5 percent…

A: Present value (PV) is $27,000. Future value (FV) is $162,000. Interest rate (r) is 9.5%.

Q: Suppose you wish to retire forty years from today. You determine that you need $50,000 per year once…

A: Given information : Years to retirement = 40 years Funds needed after retirement = $50,000 Interest…

Q: deposits

A: Introduction: The term annuity refers to series of payments which are made at intervals. Examples of…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,300 per year - with the…

A: Amount required = $10,000 Yearly Payment = $1,300 rate of interest = 13% no of years = ?

Q: You have $15,852.43 in a brokerage account, and you plan to deposit an additional $6,000 at the end…

A: Future value is the value of an asset currently based on an anticipated rate of increase in the…

Q: You expect to receive $29,000 at graduation in two years. You plan on investing it at 10 percent…

A: Given the following: Amount received in 2 years, PV = $29,000  Interest rate, r = 10%  Future Value…

Q: You are planning to make monthly deposits of $340 into a retirement account that pays 9 percent…

A: Compound = Monthly = 12Payment = p = $340Interest Rate = r = 9 / 12 = 0.75Time = t = 35 * 12 = 420

Q: You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make…

A: In the given problem we need to find the Annual Deposit amount for 5 years which cumulates @9.5% to…

Q: You have 20 years left for your retirement.  You wish to accumulate a sum large enough by that time…

A: Interest bearing account:An interest-bearing account is a financial instrument designed to accrue…