you deposit $3000 today in an account earning 3.5% annual interst and keep it for 10 years. In 10 years,you add $22,000 to your account, but the rate on your account changes to 7.5% annual interest (forexisisting balance and new deposit). you leave the account untouched for an additional 20 years. howmuch money you will have 30 years from now in this account?

Total amount present in the bank account after 30 years is $111,430.6Explanation:First we calculated…

Answered: you deposit $3000 today in an account…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

You deposit $296 today into a bank account that earns 12% annually. How much will be in your account after 25 years? note: show your answer to the nearest dollar (round to nearest dollar).
You deposit $78000 into an account that pays 5% compounded quarterly. You leave the money in the account for 5 years. At the end of the 5 years, you plan to immediately start making quarterly withdrawals. what size withdrawals can you make if you only have 20 times to withdraw?
You decide to save $6800 by making semiannual deposits for 5 years into an account which pays 3% compounded semiannually. Once the payments stop, you plan to leave the money in the account for an additional 5 years. What size deposits do you need to make?The deposits need to be $ every six months. (Round to 2 decimal places.)
if you deposit $17,000 in the bank today, you will be able to withdraw $24,000 from the account in six years. what is the implied rate that the back is paying?
You want to have $60,000 in your savings account 12 years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.4 percent interest, what amount must you deposit each year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Deposit amount
You plan to deposit $5,500 at the end of each of the next 15 years into an account paying 11.3 percent interest. a. How much money will you have in the account in 15 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 30 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value of 15 deposits b. Future value of 30 deposits
K You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns 7% interest per year, what will be the balance in the account right after you make the second deposit? ... The balance in the account right after you make the second deposit will be $ (Round to the nearest dollar.)
How much do you have to deposit today so that beginning 11 years from now you can withdraw $12,000 a year for the next 6 years (periods 11 through 16) plus an additional amount of $24,000 in the last year (period 16)? Assume an interest rate of 9 percent.
if you have $100 in a savings account and the interest rate is 10% per year and you never withdraw or deposit money, how much will you have in the account after: one year, two years
You deposit $2,239 per year for 14 years, beginning in one year, into an account that pays 12% percent annual interest. How much will you have in your account in 14 years? DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR.
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