You have $5,000 to deposit. Regency Bank offers 15 percent per year compounded monthly (1.25 percent per month), while King Bank offers 15 percent but will only compound annually. How much will your investment be worth in 20 years at each bank? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Regency Bank King Bank

Q: You need $82,000 in 12 years. If you can earn .49 percent per month, how much will you have to…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: A. You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being…

A: Future value is an estimate of future cash flows ​​that may be received at a future date, discounted…

Q: You decide to deposit $7000 at a local bank for three years at a 8% rate of interest compounded…

A: The objective of the question is to calculate the future value of an investment of $7000 at a local…

Q: Which do you​ prefer: a bank account that pays 5.0% per year​ (EAR) for three years or a. An account…

A: The following future value formula will be used:

Q: Your bank pays 8.00 percent annual interest compounded semiannually on your savings account. You…

A: Step 1: Given Value for Calculation Compound = Semiannually = 2Interest rate = r = 8 / 2 = 4%Present…

Q: You plan to invest $10,000 for 180 days. Your bank offers a rate of 2.60% on 90-day GICS and 2.85%…

A: We have in The Question, Principal = $10,000 Period = 180 days OPTION-1 90 Days GIC Interest Rate =…

Q: Suppose you currently have $20,000 and plan to purchase a 8-year certificate of deposit (CD) that…

A: Using the Future value and NPER function in excel

Q: You currently have $5,300. First United Bank will pay you an annual interest rate of 8.8, while…

A: As per the given information: Future value - $13,000 Present value - $5,300 Rate of interest - 8.8…

Q: Your bank pays 2.9% interest per year. You put $1,500 in the bank today and $550 more in the bank in…

A: The amount is two years will be the future value of the deposits made at times 0 and 1.FV=…

Q: How much will your investment be worth in 17 years at each bank?

A: Time value of money (TVM) means that the amount received in the present will have more value than…

Q: Comprehensive problem) You would like to have $52.000 in 16 years To accumulate this amount, you…

A: The FV of an investment refers to the combined value of its cash flows at a predetermined future…

Q: (Comprehensive problem) You would like to have $59,000 in 15 years. To accumulate this amount, you…

A: Annuity is the series of equal cash payments over the period.

Q: You can earn .41 percent per month at your bank.   If you deposit $2,400, how long must you wait…

A: Using excel NPER function

Q: (Comprehensive problem) You would like to have $57,000 in 13 years. To accumulate this amount, you…

A: Here,ParticularsValuesFuture value (FV) $  57,000.00Number of years (NPER)13.00Interest rate…

Q: (Comprehensive problem) You would like to have $52,000 in 15 years. To accumulate this amount, you…

A: An ordinary annuity can be seen as a certain set of regular payments or deposits made to either…

Q: You have $400 and a bank is offering 3.5% interest on deposits. If you deposit the money in the…

A: The FV of an asset is the value that the asset acquires assuming that it grows at a fixed rate for a…

Q: (Comprehensive problem) You would like to have $52,000 in 12 years. To accumulate this amount, you…

A: Future value = $52,000Period = 12 yearsInterest rate = 10% compounded annually

Q: First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City…

A: Simple interest is the additional amount that the bank pays for depositing a sum in the account. In…

Q: How much money would you have to deposit today in order to have $5,000 in three years if the…

A: Present Value = Future Value / ( 1 + discount rate )years

Q: Spartan Credit Bank is offering 5.8 percent compounded daily on its savings accounts. Assume that…

A: Given Information :Interest rate = 5.8% p.aDeposit amount = $ 5,500

Q: Bank A pays 7% simple interest on its savings account balances. Bank B pays 5.5% interest compounded…

A: STEP 1 Simple interest is the amount of interest charged on a specific principal amount at a…

Q: ou can earn .38 percent per month at your bank. If you deposit $2,100, how long must you wait until…

A: Future value of money is the amount that is deposited and amount of interest accumulated over the…

Q: You can earn .51 percent per month at your bank. If you deposit $3,400, how long must you wait until…

A: The number of months can be calculated with the help of future value function

Q: Your broker is offering 2.2 percent compounded daily on its money market account. If you deposit…

A: The amount in the account after n years is calculated using the future value formula. Future value =…

Q: Your bank pays 8.50 percent annual interest compounded semiannually on your savings account. You…

A: Future Value = Present Value * (1+rate)^ n Where, Present Value = $2,500 Rate = 8.5%/2 =4.25%…

Q: You want to withdraw $ 54,777 from your account at the end of one year and $ 10,521 at the end of…

A: As per the given information:Withdrawals at the end of the one year = $54,777Withdrawals at the end…

Q: Suppose you walk into a bank and want to make a 10-year deposit. Bank manager tells you that the…

A: Annual deposits = $10,000Period = 10 yearsInterest rate = 5%

Q: Five banks offer nominal rates of 10% on deposits, but A pays interest annually, B pays…

A: As per Bartleby guidelines,If a question with multiple sub-parts are posted,  first 3 sub-parts will…

Q: Subject : - Finanace  assume you currently have a chase sapphire preferred card with a balance of…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: Your bank pays an interest rate quoted as 5.0% per annum compounded semi-annually. You invest $1,000…

A: Semi-annual interest rate (r) = 5%/2 = 2.5% Number of Semi-annual compounding (n) = 5 years x 2 = 10…

Q: Spartan Credit Bank is offering 6 percent compounded daily on its savings accounts. Assume that you…

A: Future Value (FV) is the value of an investment or cash flow at a specified future date, assuming a…

Q: Spartan Credit Bank is offering 6.2 percent compounded daily on its savings accounts. You deposit…

A: Annual interest rate = 6.2% Number of compounding per year = 365 Deposit amount = $ 4600

Q: You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until…

A: Computation of No. of months taken for deposit of $3,000 grown into $6,000 on an interest of 0.47%…