What annual interest rate do you need to find in order for a deposit of $500 to grow to $1,685 in 13 years if the bank compounds interest weekly? Select one: O a. 8.89 percent O b. 8.42 percent O c. 7.95 percent O d. 9.35 percent 0 e. 9.80 percent

Q: you borrow $2,700 at 8% simple interest per year for five years, how much will you have to repay at…

A: interest =p×r×t100where,r=rate of interestp=principal t=years

Q: Assume you deposit $4,200 at the end of each year into an account paying 10 percent interest. a. How…

A: The fixed periodic regular payments/deposits made at each periodic interval are recognized as…

Q: f you were to put $1,000 in the bank each year for the next 10 years at 6% interest, which table…

A: Future value of $ 1: This table is used to calculate the future value of a single amount invested…

Q: Suppose you want to have $2,000,000 in 45 years. Calculate how much you need to deposit per nonth in…

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

Q: If Kenzo wants to have $19,000 in his account exactly 8 years from todayhow much should Kenzo…

A: Future value required = FV = $19000Period = nper = 8 yearsInterest rate = rate = 10%Kenzo wants to…

Q: If you deposit $100 in a savings account at the end of each month for 2 years, the balance will be a…

A: Ordinary Annuity means a series of equal payments that are made over a fixed length of time at the…

Q: How much will a $100 deposit made today be worth in 10 years if interest is compounded quarterly at…

A: Future value of the deposit includes the amount being deposited and amount of interest accumulated…

Q: If you want to have $60.000 in 8 years, how much do you need to deposit in the bank today if the…

A: Deposit required today = FV/(1+r)n Where FV - Future value = $60,000 r - Interest rate = 9% n -…

Q: A person opens a bank account with a deposit of $150 what is the future value of this amount after 3…

A: In the Given Question we are required to calculate the future value of $150 deposited today for 3…

Q: For the follwing case, determine the  number of years it wll take for the intitial deposit to grow…

A: The number of years it will take to reach the target can be computed with the help of log function.

Q: You Save Bank has a unique account. If you deposit $7,250 today, the bank will pay you an annual…

A: In this case, the bank uses different interest rates for different periods, so we'll need to apply…

Q: 1. First City Bank pays 7 percent simple interest on its savings account balances, where Second City…

A: 1) Simple interest rate of First City Bank (r) = 7% Compound interest rate of Second City Bank (i) =…

Q: 1. Determine the interest rate earned on a $4,444 deposit when $4789 is paid back in one year.…

A: Future value is the estimated current value of an asset at a future date on an assumed discount…

Q: Suppose that your parents decide tổ make deposits into a savings account, With the first deposit…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: What interest rate must your bank offer if you want your $2,730 invested today to grow to $3,470 in…

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

Q: Suppose you put $200 into a bank account at the annual interest rate of 7%.  *Round your answer to…

A: In this we have to find the future value of given value.

Q: Your goal is to have $12,500 in your bank account by the end of eight years. If the interest rate…

A: Future Value = fv = $12,500Time = t = 8 YearsInterest Rate = r = 8%Annual Deposit type = at the end

Q: If your bank pays you 1.6% interest and you deposit $550 today, what will be your balance in five…

A: Time value of money (TVM) means that the amount of money received in the present times will have…

Q: Your goal is to have $15,000 in your bank account by the end of eight years. If the interest rate…

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

Q: a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A: Compound = monthly = 12Interest rate = r = 5.5 / 12 %Time = t = 11 * 12 = 132Future Value = fv =…

Q: a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A: 1) Future Value of anuity = P * [ { (1 + r )n -1 } /r ] where, P =  periodic payment r = interest…

Q: You have a bank deposit now worth $5000. How long will it take for your deposit to be worth more…

A: Interest is an additional amount which is earned on deposited amount for the period. It increases…

Q: You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account…

A: Solution: The amount in account after second deposit will be the future value of first deposit and…

Q: consider a $5,600 deposit earning 10 percent interest per year for 10 years. What is the future…

A: Deposit  amount = $ 5,600 Interest rate = 10% Period = 10 Years

Q: It is now January 1, 2002. Your plan to make 5 deposits of $200 each, one every 6 months, with the…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: How much should you deposit now into a certificate of deposit (CD) at a bank, if the CD matures 10…

A: To calculate the principal amount deposit in the bank , we have to use the following formula : A = P…

Q: a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A: Future value is the value that an investment will have in the future after earning a certain rate of…

Q: A bank features a savings account that has an annual percentage rate of r = 5.8% with interest…

A: (A) n=p/yt Given t=10 years (p/y)=4 (since interest is compounded quarterly)

Q: You invest $8,500 in a savings account that pays interest of 4.8% compounded monthly. To the nearest…

A: The future value function is applied when the investor wants to know how much he/she will get after…

Q: calculate how much you would have in a savings account 5 $1,000 today, given that the interest paid…

A: Future value is the amount that was deposited and amount of interest accumulated over the period of…

Q: Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal…

A:

Q: Assume you deposit $50,000 today in a bank account offering an interest rate of 7.50% per year,…

A: Maturity Amount = Principal x (1+Interest Rate)Maturity Period Interest Earned = Principal Amount -…

Q: How much should you deposit in an account so that you can withdraw $5300 every year for the next 18…

A: Using excel PV function

Q: If you want to have $22,327 in fifteen years, how much do you need to deposit in a bank account…

A: The deposit required today is calculated as the present value.

Q: You decide to deposit your money today in a bank account paying 6.30% interest, compounded monthly.…

A: Present value refers to the current value of the future cash flows discounted at the interest rate…

Q: You plan to invest an amount of money in a five-year certificate of deposit (CD) at your bank. The…

A: future value formula: future value=present value×1+rmm×n given, r=12% n=5 years fv=$7500 m=4…

Q: 1. Compute the present value of a $2,000 deposit in year 1, and another $1,500 deposit at the end of…

A: Present value means the actual amount is adjusted with the interest rate so as to get the present…

Q: if your bank pays you 1.5% interest and you deposit $700 ​today, what will be your balance in 5…

A: We will use the below formula to calculate the future valueFuture value = PV*(1+r)nWherePV - Deposit…

Q: How much do you need to deposit into a bank in order to receive proceeds of $200,000 in 5 years if…

A: The equation is, PV=FV÷1+in Where, Present value is represented by PV Future value is represented by…