To start a new business Beth deposits $1000 at the end of each six-month period in an account that pays 7%, compounded semiannually. How much will she have at the end of 7 years? At the end of 7 years, Beth will have approximately $ (Do not round until the final answer. Then round to the nearest hundredth as needed.)

To start a new business Beth deposits $1000 at the end of each six-month period in an account that pays 7%, compounded semiannually. How much will she have at the end of 7 years? At the end of 7 years, Beth will have approximately $ (Do not round until the final answer. Then round to the nearest hundredth as needed.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Bha
To finance a vacation in 2 years, Elsie saves $380 at the beginning of every six months in an account paying interest at 13% compounded semi-annually. (a) What will be the balance in her account when she takes the vacation? (b) How much of the balance will be interest? (c) If she waits an additional year to start her vacation, and continues to save the same amount of money, how much more money does she have to spend?
Janie deposits $10,000 in the bank today. Starting 3 years from now, she makes equal withdrawals of $1,000 for 5 years and then withdraws the remaining amount 10 years from now. How much will she be able to withdraw 10 years from now, assuming the bank pays 6% compounded annually?
Suppose a recent college graduate's first job allows her to deposit $250 at the end of each month in a savings plan that earns 9%, compounded monthly. This savings plan continues for 14 years before new obligations make it impossible to continue. How much money has accrued in the account at the end of the 14 years? (Round your answer to the nearest cent.) $ If the accrued amount remains in the plan for the next 15 years without deposits or withdrawals, how much money will be in the account 29 years after the plan began? (Round your answer to the nearest cent.) $
Kelly Malone plans to have $40 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, compounded monthly. If Malone continues with her plan for two and one-half years, how much will be accumulated in the account on the date of the last deposit? (PV of $1. EV of $1. PVA of $1. and EVA of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to 2 decimal places. Round "Table Factor" to 4 decimal places.) Periodic Cash Flow $ Table Values are Based on: 40 n = Table Factor Total Accumulation
Cinco
A man deposits $10,000 at the beginning of each year for 15 years in an account paying 6% compounded annually. He then puts the total amount on deposit in another account paying 7% compounded semiannually for another 11 years. Find the final amount on deposit after the entire 26-year period. He will have a final amount of $ after the entire 26-year period. (Simplify your answer. Round to the nearest cent as needed.)
Laura saves $22 at the end of each week and deposits the money in an account paying 8% compounded semi-annually. How much will Laura accumulate in 4 years? How much of the accumulated amount is interest? Laura will accumulate $ in 4 years. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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