suppose you start saving today for a 40000 down payment that you plan to make on a house in 8 years. assume that you make no depsits into the account after the initial deposit how much would you have to deposit now to reach that goal of 40000 in 8 years account has daily compunding intrest with an 6 apr rate how much should you invest

suppose you start saving today for a 40000 down payment that you plan to make on a house in 8 years. assume that you make no depsits into the account after the initial deposit how much would you have to deposit now to reach that goal of 40000 in 8 years account has daily compunding intrest with an 6 apr rate how much should you invest

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

See similar textbooks

Similar questions

Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?
Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?
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.
Suppose you start saving today for a $50,000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $50,000 goal in 5 years. An account with daily compounding and an APR of 6% You should invest $ (Do not round until the final answer. Then round to two decimal places as needed.)
Suppose someone needs dollars 8969 in his account 5 years from now and the required rate of return is 0.1 per year, compounded continuously. How much should he deposit now? Answer:
Suppose you plan to start a saving account. You plan to deposit $98 each month in to a money market account that guarantees a 6% interest rate compounded monthly as long as you do not to remove any money from the account. How long will it take the account to accumulate to $2000? Round time to one decimal place and just give the number not the units
If you deposit money today in an account that pays 4%annually interest. How long will it take to double your money?
Please solve both parts ,will upvote
If you deposit OMR 20930 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years. Select one: a. 25464.48 b. 45185.78 c. 30752.45 d. 30981.42 e. All the given choices are not correct
You decide to quit using your credit card and want to pay off the balance of $11,800 in 5 years. Your interest rate is 16.05% compounded monthly. What will your monthly payments be? tA How much interest do you pay? LA
you deposit OMR 8141 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money If in 5 years. Select one: O a. 11961.57 O b. All the given choices are not correct O c. 12050.63 O d. 9904.75 O e. 17575.60
Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? S b) How much interest will you earn? S