You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much will you have in the account in 15 years? b) How much total money will you put into the account? c) How much total interest will you earn?

Q: future value of your money in 17 years.

A: Future Values: Future value is the value that will be increased or decreased after a particular…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…

A: Given information Future Value = $6000 Time Period =10 years *12= 120 periods(As periods are…

Q: ose you deposit $100,000 in an account today that pays 6% interest, comp ally. How long does it take…

A: The given problem can be solved using NPER function in excel. NPER function computes no. of years/…

Q: How much would you need to deposit in an account right now in order to have $2,000 in the account in…

A: Amount = $2,000 = A Time period = 10 years = T  Interest rate = 2% = R Compounded monthly where it…

Q: You deposit $200 each month into an account earning 6% interest compounded monthly. a) How much will…

A: Monthly deposit (C) = $200 Monthly interest rate (r) = 0.005 Monthly period (n) = 180 (i.e. 15 years…

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…

Q: 4. You deposit $50 each month in an account that pays 4.2% compounded monthly. How much is in in…

A: Compounded monthly refers to the annual rate of interest where the interest accrues at the end of…

Q: If you deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your…

A: Solution- Given-The present value of deposit is=$2,000The rate of interest is=6%Time is…

Q: You deposit $650 in a savings account. How long does it take an account with an annual interest rate…

A: Under simple interest,Interest = Principal amount x rate of interest x time

Q: You deposit $290 each quarter into an account earning 6.8% interest compounded quarterly. a) How…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: You deposit $4000 each year into an account earning 2% interest compounded annually. How much will…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: Suppose you want to have $800,000 for retirement in 25 years. Your account earns 9% interest. a)…

A: Compound = Monthly = 12Future Value = fv = $800,000Time = t = 25 * 12 = 300Interest Rate = r = 9 /…

Q: You deposit $700 each month into an account earning 3% interest compounded monthly. a) How many…

A: Future value is the amount that existing assets are worth at a specific future date after they have…

Q: You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in…

A: Given, Deposit = $2000 Interest = 3% Compounding = Monthly

Q: if you deposit $17,000 in the bank today, you will be able to withdraw $24,000 from the account in…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. How…

A: Future Value   $  6,00,000.00 Time Period 25 Interest Rate 10%

Q: You want to be able to withdraw $45,000 each year for 15 years. Your account earns 6% interest. a)…

A: Present Value is the current price of future value which will be received in near future at some…

Q: You deposit $300 each month into an account earning 5% interest compounded monthly. a) How much…

A: Monthly deposit (C) = $300 Monthly interest rate (r) = 0.00416666666666667 (i.e. 0.05 / 12) Monthly…

Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much…

A: Annuity amount = $100 Monthly rate of interest = 0.6667% (8.00% / 12) Number of months = 300 months…

Q: You deposit $1000 each year into an account earning 8% compound annually. A) How much will you have…

A: ordinary annuity-in which payment is end of each period. annuity due :-payment is made at beginning…