None t's the first day of the year and you currently have $4,500 in thebank. You plan to deposit $100 at the end of every year for thenext 52 years, with the first payment made I year from now (payments from t = 1 tot = 52 inclusive).If bank interest rates are 9% pa, how much money will be inyour bank account a moment after making your last deposit in52 years?Question 10Select one:a.$397,548.76b.$398, 647.3C.$453,759.49d.$494,597.84e.$856, 938.45

Problem SummaryYou currently have $4,500 in the bank.You plan to deposit $100 at the end of each…

Answered: t's the first day of the year and you…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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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?
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.
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?
It's the first day of the year and you currently have $3,500 in the bank. You plan to deposit $200 at the end of every year for the next 56 years, with the first payment made 1 year from now (payments from t=1 to t=56 inclusive). If bank interest rates are 1% pa, how much money will be in your bank account a moment after making your last deposit in 56 years? Question 3 Select one: a. $6,110.33 b. $14,654.33 c. $14,700 d. $21,026.53 e. $21,236.8
10
A local bank will pay you $135 a year for your lifetime if you deposit $3,000 in the bank today. If you plan to live forever, what interest rate is the bank paying? Note: Enter your answer as a percent rounded to 2 decimal places. Interest rate %
You plan to deposit into your bank account $100 two years from now, $200 three years from now and then to withdraw your full balance at the end of year 4. If you can earn 2% per year, how much would have in your account by the end of year 4? O A. $308 O B. $318 Oc. $310 O D. $312
You have decided to start a savings plan for your retirement. You plan to make an annual deposit of $50,000 each year for the next 6 years. The first deposit to be made one year from today. The bank pays a nominal interest rate of 5% annually. How much your savings account with the bank be if you leave the money in the bank to be withdrawn all in 19 years from today? Round to the nearest $0.01. DO NOT use the $sign. Do not use commas to separate thousands. For example if you obtain $1,433.728 then enter 1433.73; if you obtain $432 then enter 432.00 Your Answer: Answer
If you deposit $8,000 in a bank account that pays 7% interest annually, how much will be in your account after 15 years? If you deposit $4,000 in a bank account that pays 8.6% interest annually, how much will be in your account after 3 years? If you deposit $1,000 today, and $1,500 every year, in a bank account that pays 4% interest annually, how much will be in your account after 23 years? If you deposit $14,000 in a bank account that pays 3.7% interest annually, how much will be in your account after 5 years? If you deposit $13,000 in a bank account that pays 13% interest annually, how much will be in your account after 13 years? If you deposit $7,500 today, and $2,000 every year, in a bank account that pays 2.8% interest annually, how much will be in your account after 35 years?
Its one question only ple do both parts
19, Suppose starting this year you decide to make deposits of $5,000 at the end of each year for the next five years in a bank account paying 10% interest. If you currently have $3,000 in the account how much will you have at the end of five years? 1. $25,255.05 2. $36,742.22 3. $35,357.03 4. $30,272.35 5. $28,500.60
5. You take $100 to your local savings bank to invest for five years. You are given the choice of two investments by the banker Notifications Time Left 00:00:28 ? Guide Me 1. You can Invest in a regular savings account that pays you 14.00% interest each year with interest compounded annually. That is each year the interest you can gets deposited in your bank account and earns interest until the end of the five years. it. You can invest in a special account that pays you 20.00% interest each year, the catch is that the interest does not compound, Rattier each year the interest payrrient is put into a special account which collects no further interest and cannot be reinvested anywhere until the end of the five years Which option should you select and why? a, Select Option i: It earns $44.63 more than Optianill b. Both Options earn you the same amount of money so you are indifferent between the two c. Select Option it It earns $7.46 more than Option d. Select Option it It earns $30.00…

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