To establish a revenue stream for your retirement, you deposit $89000 in an account with a nominal interest rate of 4.2 percent, compounding monthly, which sends you a check of $311.50 each month starting next month. After 10 years, the account value is

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: If you deposit $50,000 in an account that pays an annual interest rate of 10% compounded monthly,…

A: The objective of this question is to calculate the future value of an investment given the initial…

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: At the end of each month for the next ten years you will receive cash flows of $75.  If the…

A: Present value of annuity = 75{1-(1+0.072)^-120}/0.072

Q: that pays 8% interest per year, compounded continuously. a. Determine the accumulated savings in…

A: The time value of money highlights the idea that money invested now will have a higher value than…

Q: You deposit $63000 into an account which pays 5% compounded semiannually. How much can you withdraw…

A: Given:Principal (P) = $63,000Rate (r) for every six months = 5%Semi-Annually Rate = 5%/2 = 0.025…

Q: Suppose that ​$ 2,500 is set aside each year and invested in a savings account that pays ​8%…

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

Q: You expect to receive $1,000 at the end of each of the next 3 years. You will deposit these payments…

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

Q: On January 1, 2021, you deposited $6,100 in a savings account. The account will earn 10 percent…

A: Interest received at the end of each year will result in the compounding effect on the deposit at…

Q: You deposit $90000 into an account which pays 4% compounded semiannually. You wish to make…

A: present value of annuity=A×1-11+rmm×nrmwhere,A=annuityr=rate of interestm=frequency of…

Q: ou make a one time 2000 deposit into an account which pays an annual interest rate of 1.7 compounded…

A: the final balance in the account will be the future value of the amount 2000 along with the interest…

Q: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each…

A: Compound = monthly = 12 Payment = p = $140 Interest rate = r = 6 / 12 = 0.5% Time = t = 15 months

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

A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…

Q: A personal account earmarked as a retirement supplement contains $242,300. Suppose $200,000 is used…

A: The interest rate is 6%, compounded quarterly. The interest rate per quarter will be (6%/4) = 1.5%.…

Q: What is the value (in $) of Jorge's account after 16 months? (Round your answer to the nearest…

A: Information Provided: payment made = $150 Term = 16 months Interest rate = 6% compounded monthly

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: Lidia deposits $700 at the END of each year for 8 years in a savings account. The account pays 12%…

A: In finance, the term annuity represents a stream of cash flows that contain an equivalent periodic…

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: what is the present value of this stipen

A: Present Value:  The present value is the present sum of a series of fixed payments. The series of…

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 deposit $3,500 at the end of the year (k = 0) into an account that pays interest at a rate of 7%…

A: Initial deposit = $3,500Interest rate in 1st year - 7% (Compounded annually)After 1 year, interest…

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: You deposit $57000 into an account which pays 7% compounded annually. How much can you withdraw at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: You plan on depositing $370 every month for the next 11 years in an account that pays a 0.8%…

A:

Q: Please do not answer this question in excel thank you in advance. A deposit of $2,500 is made into…

A: Future value is the value of an asset which grow to a higher value in future. It helps to make…

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: You deposit $1,000 at the end of the year (k = 0) into an account that pays interest at a rate of 6%…

A: Compound interest also referred to as interest on interest, reinvests the interest earned in a…