What is the accumulated sum of the following Stream of Payments? $20,384 every year at the beginning of the year for 6 years, at 6.88 percent, compounded annually   Round the answer to two decimal place eses

Q: Find the final amount of money in an account if $3,900$3,900 is deposited at 7.5%7.5% interest…

A: Calculations are done in excel, so there is no intermediate rounding. (1+i) = (1+i(2)2))^2(1+i) =…

Q: If $840.00 accumulates to $1177.12 in three years, nine months compounded quarterly, what is the…

A: The objective of the question is to find the effective annual rate of interest when the principal…

Q: How much interest (in dollars) is earned in 9 years on $8,500 deposited in an account paying 5%…

A: Future value (FV) refers to the amount of money that an investment will be worth at a future point…

Q: How much must be deposited at the end of every six months for 5 years to accumulate to $2171.00 at…

A: Given information: Future value is $2,171.00 Interest rate is 5% compounded semi-annually, Number of…

Q: investment, what nominal rate of interest, compounded semi-annually must you earn?

A: Information Provided: Principal = $26,000 Years = 13 Semiannual payments to be received = $1700

Q: Find the sum of money that accumulates to $1338.98 at 7.9% compounded quarterly in two years, ten…

A: According to the concept of present value, the amounts of money today are worth more than equivalent…

Q: Find the sum of money that accumulates to $3479 16 at 9.5% compounded quarterly in seven years,…

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: An individual deposits $1,397 at the end of each year for 8 years in an account that pays 8.2%…

A: When interest is compounded quarterly and deposits are made quarterly, the future value of an…

Q: Find the equated date at which the original payments are equivalent to the single payment. State…

A: The objective of the question is to find the time at which the original payments are equivalent to…

Q: How much interest (in dollars) is earned in 7 years on $8,800 deposited in an account paying 7%…

A: To solve this problem, we can use the formula for compound interest: A = P(1 + r/n)^(nt) where: A…

Q: If $1125.00 accumulates to $1248.19 in two years, six months compounded semi-annually, what is the…

A: The objective of the question is to find the effective annual rate of interest when the principal…

Q: What sum deposited today at 5% compounded annually for 13 years will provide the same amount as…

A: A series of payment made at the end of each period with equal intervals of time is an ordinary…

Q: An investment of $1831.00 earned interest semi-annually. If the balance after 5.5 years was…

A: Using excel RATE function

Q: Calculate the present value of five payments of $1500.00 made at the end of each of five consecutive…

A: Present value is calculated using following equation Present value = P×1-1(1+r)nr Where, P is annual…

Q: Determine how much is in each account on the basis of the indicated compounding after the specified…

A: Given, P is $5000 r is 3.1%

Q: Determine how much is in each account on the basis of the indicated compounding after the specified…

A: initial Principal Value is 7200 The interest rate is 2.5% The time period is 1 year To Find:…

Q: What is the present value of the following annuity? 3,316 every half year at the end of the period…

A: The current value of a future cash amount or a stream of future payments is known as present value,…

Q: Compute the nominal rate of intrrest at which $980 deposited at the end of eaach month quaretly for…

A: Nominal interest rate is the rate of return without considering the inflation rate or before…

Q: Find the time required for $5000 to be equal to $14,000 when deposited at 4% compounded monthly.…

A: The concept of time value of money will be used here.   Money deposited or invested today grows in…

Q: 100 is deposited into an account at the end of each 3-year period for 36 years. The accumulated…

A: Annual effective rate is the real rate at which the money deposited grows.

Q: required deposit is $. und the final answer to the nearest cent as needed. Round all intermediate…

A: The given problem can be solved using PMT function in excel. PMT function computes savings/…

Q: Determine the effective rate for $1 invested for 1 year at 7.8% compounded quarterly. The effective…

A: The effective interest rate can be defined as the interset that will be computed using the nominal…

Q: If $1125.00 accumulates to $1248.19 in two years, six months compounded semi-annually, what is the…

A: The objective of the question is to find the effective annual rate of interest when the principal…