We have considered the case of regular deposits at the end of each month. If deposits are made at the beginning of each month, then the formula is a bit different. Balance after r deposits = Deposit x (1 + r) x (1 + r) - 1 Here, r is the monthly interest rate (as a decimal), and r is the number of deposits. The extra factor of 1 + r accounts for the interest earned on the deposit over the first month after it is made. Suppose you deposit $210 at the beginning of each month for 5 years. Take the APR to be 6.8%. What is the future value? In other words, what will your account balance be at the end of the period? Round your answer to the nearest cent. future balance:

Q: Barry made a deposit of 10,000 at time 0 to Fund A, which accumulates at a nominal rate of interest…

A: Given: Barry made a deposit of 10000 at time 0 to Fund A, which accumulates at a nominal rate of…

Q: (n+1) Use systematic inductive reasoning (e.g., adapt the formula 1 + 2+ 3 + ... + (n – 1) + n=+) to…

A: Given that there are nxn square geoboard. Now we are to find the total number of different lengths…

Q: A person needs ​$17,500  immediately as a down payment on a new home. Suppose that she can borrow…

A: A person needs ​$17,500 immediately as a down payment on a new home. Suppose that she can borrow…

Q: Assume that Bob deposited $3,000 per year in a bank account. Since the bank offered a compound…

A: As per the question we are given the principal deposited after each year as $3,000 ; the annual…

Q: A person invests $5000 at 2% interest compounded annually for 3 years and then invests the balance…

A:

Q: Can you give me the formula 4 interest on an investment

A: To find a formula which gives relation between investment and interest.

Q: An investment of $8,000 is made at time 0 with returns of $3,500 at the end of each of years 1…

A: Given problem is : An investment of $8,000 is made at time 0 with returns of $3,500 at the end of…

Q: Write the equation that can be used to find the amount of each monthly payment. PV•O PMT = - where…

A:

Q: Match each variable with its meaning in the following simple terest formulas. = Prt = P +Prt: =…

A: We have to find out solution

Q: The following equation is used to compute monthly payments on a mort- gage: P A = (1- (1+ i)") Where…

A:

Q: t = the time in years Find the amount owed at the end of 4 years if $2, 500 is loaned at a rate 4%…

A:

Q: The following equation (A= 6000(1.02) to the exponent 14 represents a loan that is compounded…

A:

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

A: Given, annuity due, monthly payment = $150 number of period= 16   the table given in the question is…