You currently have $900 (Present Value) in an account that has an interest rate of 4.5% per year compounded quarterly (4 times per year). You want to withdraw all your money when it reaches $1,710 (Future Value). In how many years will you be able to withdraw all your money? The number of years is . Round your answer to 1 decimal place.

Q: You want to be able to withdraw $4000 from an account at the end of each 6-month period (that is,…

A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

Q: "What is the future value of an investment in which you deposit $988 into an account at the end of…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: Show manual calculations for the below: You have 20 years left for your retirement. You wish to…

A: The time value of money is a concept in finance that evaluates the worth of future expected cash…

Q: You deposit $320 each month into an account earning 2% interest compounded monthly. Use the TVM…

A: Future value is the value of current asset at a particular date in the future when it has earned…

Q: year, to make a down payment of $75,752 on a vacation home If you can earn 3.03 percent on your…

A: The future value idea is a useful tool for investors to compare various investment prospects.…

Q: You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3…

A: Solution- Given that P=$4900 r=11.3% n=15 years Future value of Annuity- =P * [ (1+r)^n -1] /r

Q: You deposit $1,000 one year and $2000 next year starting year 1 until year 30 with an interest rate…

A: Financial management consists of directing, planning, organizing and controlling of financial…

Q: You want to be able to withdraw $8500 from an account at the end of each 6-month period (that is,…

A: Given that;Periodic withdrawal amount is $8500Interest rate is 2.9% per year

Q: You plan on investing $1.900 every 4 years while earning 6% per year. How much money will you have…

A: Future value refers to the concept of time, the value of money which is used for computing the value…

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: Suppose you deposit $380 today, $565 in one year, and $929 in two years in an account that pays an…

A: We need to calculate future value here:It has formula, FV = PV * (1+r)^nwhere, PV is present valuer…

Q: Suppose you currently have $4,800 in your savings​ account, and your bank pays interest at a rate of…

A: Present value is the sum of money that must be invested to achieve a specific future goal. Future…

Q: You plan to deposit S500 in a bank account now and S400 at the end of the year. If the account earns…

A: The objective of the question is to calculate the balance in the bank account right after the second…

Q: Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns…

A: Future value is an estimated value of a current asset at an assumed growth rate over a certain…

Q: Suppose someone needs dollars 8969 in his account 5 years from now and the required rate of return…

A: Amount - 8969 Time - 5 years Rate of return - 0.1 per year compounded continuously

Q: You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of…

A: Future value of annuity=C×1+in-1iC=Cash flow per periodi=Interest raten=Number of payments

Q: account with an interest rate of 7.5% per year compounded monthly. You want to withdraw all your…

A: interest rate =7.5% monthly interest =7.5/12=0.625 Future value =Present value (1+i)n

Q: you want to withdraw equal amount of $100 from your account each year for 3 years. To do so, how…

A: Present value is the equivalent value today of the the future value of money that is expected to be…

Q: You currently have $2,100 (present value) in an account that has an interest rate of 4% per year…

A: The concept of the time value of money states that money loses value over time pertaining to…

Q: You want to be able to withdraw $5000 from an account at the end of each year for the next 12 years.…

A: Information Provided: Payment = $5000 Term = 12 years Interest rate = 5.5% compounded annually

Q: Suppose you will need $43,000 in 21 years. If your bank compounds interest at an annual rate of 4%,…

A: Future Value (FV) of amount needed = $43,000Interest rate (r) = 4% or 0.04We need to calculate the…

Q: Suppose you deposit $10 every week into an account that earns 4% interest compounded weekly.  How…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: You plan to deposit $700 in a bank account now and $900 at the end of one year. If the account earns…

A: Simple interest is a method of calculating the percentage of interest paid on a sum over a defined…

Q: Suppose you deposit $1,000 today in an account that pays 5% interest at the end of each year. If…

A: Here, Deposit Amount is $1,000 Interest Rate is 5%

Q: Assume that you just deposited $1000 into a savings account that earns an interest rate of3% per…

A: The future value of an investment can be very useful for investors as it helps them to estimate how…

Q: You plan to deposit $5,500 at the end of each of the next 15 years into an account paying 11.3…

A: a. Periodic deposit, P = $5,500Interest rate, r = 11.3%Number of deposits, n = 15 The future value…

Q: You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns…

A: First we have tor calculate the future value of $700 deposit today and then we will add the second…

Q: If you deposit money today in an account that pays 12.5% annual interest, how long will it take to…

A: The rate of interest is 12.5% Assume, The present value is $1. The future value is $2 as the amounts…

Q: Five years from today, you would like to withdraw $5,000 from an account that pays interest rate of…

A: Future Value (FV) is a financial concept representing the projected worth of an investment, series…

Q: You want to be able to withdraw $4500 from an account at the end of each 6-month period (that is,…

A: Using Excel PV function

Q: If you deposit some money into a bank account today, to the nearest year, how long will it take to…

A: Calculation of number of years: Answer: Number of years is 4

Q: If you deposit money today in an account that pays 5.5% annual interest, how long will it take to…

A: Future Value refers to the compounded value of a single cash flow received today or multiple cash…

Q: You want to save (deposit) $6,631 per year, starting next year, to make a down payment of $79,593 on…

A: The FV of an investment refers to the combined value of the investment's cash flows at a future date…

Q: After learning about the time value of money, you decided to open a retirement account. You will…

A: The FV of an investment refers to the combined worth of the cash flows of the investment at a…