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A: Deposit (P) = $ 5000 Interest rate = 2% Monthly interest rate (r) = 2%/12 = 0.166666666666667%…
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A: Given information Future Value = $6000 Time Period =10 years *12= 120 periods(As periods are…
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A:
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Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…
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A: In this question future value would also be find out so that payment per year can be find out.
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Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…
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Q: You deposit $3500 in an account earning 2% interest compounded quarterly. How much will you have in…
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Q: You deposit $6000 in an account earning 7% interest compounded monthly. How much will you have in 15…
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Q: You deposit $6000 in an account earning 4% interest compounded monthly. How much will you have in…
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Q: You deposit $600 each month into an account earning 4% interest compounded monthly. a) How much…
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Q: You deposit $6000 in an account earning 6% interest compounded monthly. How much will you have in…
A: Computation as follows:
You deposit $3000 in an account earning 3% interest compounded monthly. How much will you have in the account in 15 years?
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityUse the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?
- Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- You deposit $200 each month into an account earning 6% 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?You deposit $200 each month into an account earning 5% interest compounded monthly. How much will you have in the account in 20 years? How much total money will you put into the account? How much total interest will you earn?You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 20 year? How much interest will you earn?
- You deposit 200$ each month into an account earning 8% interest compounded monthly. Round to the nearest vent as needed. How much will you have in the account in 25 years? How much total money will you put into the account? How much total interest will you earn?You deposit $300 each month into an account earning 5% interest compounded monthly.a) How much will you have in the account in 20 years?b) How much total money will you put into the account?c) How much total interest will you earn?You deposit $500 in an account earning 7% interest compounded annually. How much will you have in the account in 10 years?