Today you have $100,000 in your investment account, which will grow by 7.5% annually. If you keep investing $600 every month, how many months does it take for your account balance to increase to $300,000? (Report an integer)

Q: suppose you want to have $700,000 for your retirement in 35 years. your account earns 8%  How much…

A: Annuity- refers to a series of periodic payments made at equal time intervals. This financial…

Q: If you pay $500 each year into an account that grows at 14% per year, how much will you have in the…

A: An annuity is end of year deposits made over a period of time at a specified rate of interest.The…

Q: Your friend plans to invest $1,000 per month into an account expected to have an effective annual…

A: Here, EAR is 6.2% Monthly payment (PMT) is $1,000 Required Amount (FV) is $100,000

Q: You would like to have $1,000,000 when you retire in 35 years. How much should you invest each…

A: Solution:When an equal amount is invested each periodat end of period, it is called ordinary…

Q: You are planning to invest $6,000 in an account earning 10% per year for retirement. a. If you put…

A: Solution:- When an amount is deposited somewhere, it earns interest on it. The amount initially…

Q: You have $300 to invest. If you put the money into an account earning 13% Interest compounded…

A: Following details are given in the question : Present value = 300 Time period = 8 years Interest…

Q: Your client currently has $350,000 in an investment account.  The return on the account has been…

A: Current Amount in account (PV) is $350,000 Interest rate is 12.5% Compounded annually Future Value…

Q: You are planning to save for retirement over the next 35 years. To do this, you will invest $660 per…

A: Money invested in the stock market and bonds would grow to much larger amount due to the compounding…

Q: Today you have $100,000 in your investment account, which will grow by 7.5% annually. If you keep…

A: Using excel NPER function

Q: You are planning to save for retirement over the next 35 years. To do this, you will invest $641 per…

A: An annuity is a financial product that provides a series of payments made at equal intervals. These…

Q: You are planning to invest $1,000 in an account earning 12% per year for retirement. a. If you put…

A: Amount to be invested = $1000 Interest rate = 12%

Q: You would like to have $600,000 when you retire in 40 years. How much should you invest each quarter…

A: Here, To Find: Part a). Amount of deposit each quarter =? Part b). Total money deposited into the…

Q: years from today, and 2,000 four years from today. What will the value of your account be 4 years…

A: The future value is the estimated value of an investment that accounts for compound interest or…

Q: You plan to invest $14631 into an investment that you hope will earn a return of 14.14%.  You will…

A: The compounded value of an investment is the future value of investment after considering the…

Q: You are planning to save for retirement over the next 30 years. To do this, you will invest $500 a…

A: The future value of an ordinary annuity shows the accumulated value of an equal amount of deposits…

Q: You plan to invest $13223 into an investment that you hope will earn a return of 10.28%.  You will…

A: Future Value = P * (1+r)^nWhere P = Principal / Present ValueR = Rate of returnN = Number of Period

Q: You invested $250 at the end of every month for 10 years at 7.5% interest compounded monthly. Use…

A: An annuity is a series of equal periodic payments made or received over a specified period of time.…

Q: Suppose you invest $190 a month for 7 years into an account earning 9% compounded monthly. After 7…

A: Future value of money includes the principal amount and the compounding interest.

Q: You are planning to save for retirement over the next 15 years. To do this, you will invest $1,100 a…

A: Here, Particulars Stock Bond Monthly deposits (PMT)  $1,100.00  $500.00 Interest rate 8.00%…

Q: Use logarithms to solve the problem. How long will it take $11,000 to grow to $19,000 if the…

A: Compound = monthly = 12 Present value = pv = $11,000 Future value = fv = $19,000 Interest rate = r =…

Q: If you invest $600 today at a rate of 14%, how much will you have in the account after 15 years?…

A: Present Value = pv = $600Interest rate = r = 14%Time = t = 15 years

Q: Your goal is to have $93,677. If you can earn 11.79% per year and you invest $11,573 today, how many…

A: The number of years required to reach the goal can be calculated with the help of future value…

Q: 3. Suppose one plans to invest $750 a month this year, $800 a month next year, $850 a month the year…

A: Future value of growing annuity is the future value of current stream of cash flows that keeps…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,500 per year with the…

A: Amount to be accumulated = $10,000Annual deposits = $1,500Interest rate = 7%To find: Number of years…

Q: Suppose you have an account that will grow to $381,000.00 in 15 years. It grows at 3% annual…

A: The annuity refers to a payment series that provides the holder with a periodic payment in exchange…

Q: u are considering the purchase of an investment that pays an annual rate of 6.80%, compounded…

A: Future value required=FV=600000PMT=monthly deposit=3500Interest rate=6.80%Rate=6.8/12=0.5666666667%

Q: You are planning to save for retirement over the next 30 years. To do this, you will invest $1,500 a…

A: Retirement planning is a method of investing to get returns over no income period. This is an…

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 $1,300 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 invest $10,000 into a money market account that pays interest on a semi-annual basis (e.g.,…

A: We use NPER function in excel by taking present value as 10000 and future value as 20000 and…

Q: Suppose I just opened an account today, and it has a $0 balance.  Starting next month I will make…

A: Data given: FV= $ 1,000,000 Interest rate= 9% compounded monthly Interest rate per month=…

Q: You are going to invest $9237 today and $9695 1 year from today.  If you expect to earn a return of…

A: Step 1 Future value is the amount of money that, with time and an interest rate, is invested now and…

Q: Suppose you invest $100 at the end of every month at 12% compounded monthly and you begin this…

A: Monthly investment = $100 Interest rate = 12% compounded monthly Period of investment = Age 21 till…

Q: You are trying to decide how much to save for retirement. Assume you plan to save $6,000 per year…

A: The objective of the question is to calculate the retirement savings based on different scenarios.…

Q: Suppose you want deposit $200 each month into an account earning 3.5% APR compounded monthly. a)…

A: Annuity is a fixed periodic payment made over a period of time, leading to the accrual of a definite…

Q: Suppose you invested $1000 every 3 months over a 15 year period. If money earns an annual rate of…

A: Compound = quarterly = 4Payment = p = $1000Time = t = 15 * 4 = 60Interest rate = r = 6.5 / 4 =…

Q: eposit $10,000 into an investment account.  You believe that you can reasonably expect a compounding…

A: The more is compounding of interest rate more is the effective interest rate and more is future…

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 would like to have $500,000 when you retire in 30 years. How much should you invest each quarter…

A: The future value of any deposits is the sum total of all the deposits made compounded at interest…