you deposited $120 the first year in an account that earns 12% annual interest. You also increased the deposit by $200 each year starting next year. How much money do you get in that account after 4 years? Check you answer with interest table where you calculate the increase/decrease each year

Q: you borrowed $1,000 from a bank with 12% annual interest rate. You want to pay off the debt in 4…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: If you deposited $5000 in a bank that offers 12% annual interest rate, if the bank compounds the…

A: Deposit=5000Annual interest rate=12%Number of years=5years

Q: Give me correct answer with explanation

A: The problem is asking us to find the future value of an investment. The future value is the amount…

Q: You deposited $1000 in the bank today.  What will be in your account in 25 years assuming an…

A: Given Information: Present Value (PV) = $1000 number of period (n) = 25years. Interest Rate = 6%

Q: You make five annual deposits of $1,800 into a savings account that pays interest at a rate of 3%…

A: Annual deposit=$1800Interest rate for 6 years=3%Last four years=4%Number of deposits=n=1800Find…

Q: you for the next 6 years, with your first deposit one month from today. If your savings earn 12.05%…

A: As per the given information: Amount deposited every month = $650Period = 6 yearsInterest rate =…

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: mpounded monthly. You plan to put $1,000 per year over the next 2 years as well.  How much will you…

A: To determine the value of the bank account, we need to determine the effective annual rate given the…

Q: Bank with an interest of 12% compounded annually. You can pay off the debt in 4 years by paying $310…

A: Present value:Present value is a financial concept that refers to the current worth of a future sum…

Q: You have a bank account that pays an annual interest rate of 6.9%. If you deposit $5,000 today and…

A: In the realm of financial foresight, the question at hand revolves around the future value of…

Q: You want to be able to withdraw $50,000 each year for 20 years. Your account earns 8% interest. a)…

A: a) Hence, the amount in the account at the beginning is $490,907.37 b) Hence, the total money pull…

Q: you deposit $1,000 each year into an account earning 3% interest compounded annually. How much will…

A: Time value Value received today by an individual is of more worth than receiving the exact value in…

Q: If you want to have $22,431 in fifteen years, how much do you need to deposit in a bank account…

A: The deposit required to be made today can be calculated as the present value

Q: The stated interest rate on your account is 8%, interest compounded monthly. If you deposit $50 each…

A: Future Value Annuity is the technique of determining the furure value of a series of regular…

Q: ou deposit $300 in an account earning 6% interest compounded annually. How much will you have in the…

A: Amount Deposited = $300 Interest Rate(r) =6% Years(N) =10

Q: If you deposit $500 at the end of each year for the next 5 years in a bank where it will earn 6%…

A: The amount that a present investment will gain in value over time when kept in a compound interest…

Q: How much would you need to deposit in an account now in order to have $20,000 in the account in 4…

A: Interest rate = 5%No. of years = 4FV = 20000

Q: How would you need to deposit in an account now in order to have $3000 in the account in 5 years?…

A: Given, Future Value = $3000 Time period = 5 years  Interest rate = 7% Compounding =  monthly

Q: You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10…

A: Principal amount, P = $3,000  Interest rate, r = 1.26%  Number of compounding periods, n = 10    The…

Q: you deposit $3000 today in an account earning 3.5% annual interst and keep it for 10 years. In 10…

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

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: how much is this account worth in today's dollars?

A: Present value: It is the present worth of the annuity cashflows discounted over a period of time.…

Q: You deposit $2000 in an account that pays 7% interest compounded semiannually. After 2 years, the…

A: Initial deposit (P) = $2000 Semiannual interest rate for first 2 years (r1) = 0.035 (i.e. 0.07 / 2)…

Q: Your bank offers you a savings plan with an APR of 2.7% compounded quarterly. You plan to save…

A: The future value refers to the estimated value of an investment or asset at a specific point in the…

Q: Using a compound interest calculator, it you would deposit $100 each month into a savings account…

A: Compounding is technique by which present cash flow is converted into equivalent future amount at a…

Q: Suppose you have decided to put $500 at the beginning of every month in a savings account that…

A: Monthly deposit (m) = $500 Monthly interest rate (r) = 0.00416666666666667 (i.e. 0.05 / 12) Number…

Q: You want to be able to withdraw $25,000 each year for 30 years. Your account earns 8% interest.…

A: Present value of annuity.PV = A * wherePV = Present value of annuity.A = periodic paymentsr =…

Q: How much must you deposit in the bank today if you want to have $1,500 after 4 years?  Interest rate…

A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…