You invested $10,000 on February 8, 2021, in an account that pays 4% compounded monthly. If simple interest is used on the partial period, how much is in the account on January 22, 2024?

Q: You wish to have $10,000 on August 1, 2026.  You plan to to make monthly deposits into an account…

A: The question is based on the concept of Future value and annuity

Q: You are to make monthly deposits of $875 into a retirement account that pays an APR of 9.5 percent…

A: An annuity is a financial product that pays out a fixed stream of payments to an individual,…

Q: You deposit $ 330 each month into an account earning 5.6 % interest compounded monthly for 2 years.…

A: Interest is the amount earned or paid by investing or borrowing the amount from another party.…

Q: Q2): A person deposits $28,500 into a savings account that earns 5% interest per year. At the end of…

A: Given That: deposited money(P)= $28500 Interest rate (r)=5%=0.05 per year Amount wants to be…

Q: Tuition of ​$1452 will be due when the spring term begins in 8 months. What amount should a student…

A: Every investor wants to earn more profit. By the use of a future value tool, the investor can…

Q: On April 5, 2019, Janeen Camoct took out an 7.75% loan for $22,000. The loan is due March 9, 2020.…

A: solution given Amount borrowed $22000 Interest rate 7.75% Date of borrowing April…

Q: You are to make monthly deposits of $725 into a retirememt account that pays an APR of 10.1 percemt…

A: Future value is the expected value of current regular deposit at a future date, at a given rate of…

Q: How long would you have to wait for a deposit of $1,625 to earn $34 in interest? Assume that the…

A: Interest = Principal * Rate * Time

Q: uppose your firm has an obligation to pay an annuity with 18 annual payments of $80,000. The first…

A: Annuity payment is a  series of payments lasting for some specific period. An annuity payment for a…

Q: You are to make monthly deposits of $625 into a retirement account that pays an APR of 11.4 percent…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: You need $58000 on March 15, 2024. How much do you need to deposit each quarter in an account…

A: Future value refers to the worth or value of cash flows. Cash flows are compounded at the rate of…

Q: Today is Jan.1, 2019. Starting today you plan to invest $3000 every year, first deposit today and…

A: Let's look at the entire problem in two parts.Part 1: Today is Jan.1, 2019. Starting today you plan…

Q: A) When you retire, you move $300,000 into an account that pays nominal interest of 4%, compounded…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: How much must you deposit in an account today so that you have a balance of $18,355 at the end of 11…

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

Q: Suppose that an account was opened with a $988 deposit at the beginning of 2030 and that there were…

A: Time value of money is a financial concept which is used to calculate the value of money in present…

Q: January 1, 2022, you open a checking account with the same bank that you have your savings account.…

A: Applicable interest rate is 0.02% Bi monthly deposits are of $25 Time period is 1 year To Find:…

Q: You are planning to make monthly deposits of $370 into a retirement account that pays 9 percent…

A: Compound = monthly = 12Monthly Deposit = d = $370Interest Rate = r = 9 / 12 = 0.75%Time = t = 35 *…

Q: You deposit $90000 into an account which pays 4% compounded semiannually. You wish to make…

A: present value of annuity=A×1-11+rmm×nrmwhere,A=annuityr=rate of interestm=frequency of…

Q: you want to withdraw $100 from an account in year one. Also, you want to withdraw $200, $250 and $70…

A: Present value is the equivalent value today of the future money based on time value of money and…

Q: At the beginning of January 2019, you placed $5,200 in a CD (certificate of deposit) account with an…

A: The FV of an investment refers to the combined value of the investment's cash flows at a future date…

Q: It is now January 1, 2018. You plan to make 5 deposits of $200 each, one every 6 months, with the…

A: Future value is the expected value of an investment at a future date at given rate of return. given:…

Q: ou are planning to make monthly deposits of $190 into a retirement account that pays 10 percent…

A: Future value of money is the amount of deposit made over the period plus amount of interest…

Q: On April 5, 2019, Janeen Camoct took out an 7.75% loan for $22,000. The loan is due March 9, 2020.…

A: Interest refers to the amount of return that is received by the lender by borrowing a sum to the…

Q: You invest $2,300 in a 4-year certificate of deposit (CD) that pays 3.2% interest, compounded…

A: In this question we need to compute the future value at the end of year 4.

Q: You're prepared to make monthly payments of $220, beginning at the end of this month into an account…

A: The concept of the time value of money states that the current worth of money is more than its value…

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: You are to make monthly deposits of $500 into a retirement account that pays 10.3 percent interest…

A: A monthly deposit (P) of $500 is made for a period (n) of 420 (35*12=420) at an interest rate ( r )…

Q: On January 1, you deposit K100 in an account that pays a nominal interest rate of 11.33463%, with…

A: Computation:

Q: Suppose $100 was deposited at the EOY 2011 and $220 was withdrawn at the EOY 2020, emptying the…

A: The annual interest rate, also known as the annual percentage rate (APR), is a measure of the cost…

Q: You borrow $64,000 in the form of an unsubsidized loan at 3.98% APR. How much money do you owe when…

A: Given: Loan amount = $64,000 APR = 3.98% Period 6 months

Q: On June 3, 2014, Crystal Nelson deposits $8,000 in an account earning 2.5% compounded daily. What…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: If you deposit $150 dollars into your savings account at the beginning of each month, and that…

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

Q: Starting next month, if you make monthly deposits of $501 into a retirement account that earns 6%…

A: Future value refers to the value of an investment or asset at a specific point in the future, based…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: Future Value is that amount which includes the interest which is received by investing the amount at…

Q: Slim made a single deposit of $5,000 in an account that pays 7.2% in 2012. What equal-sized annual…

A: Present Value = pv = $5000Interest Rate = r = 7.2%Time = t = 2017 - 2012 = 5 yearsNumber of…

Q: You wish to make 4 equal annual deposits into a savings account such that at the time of your last…

A:

Q: You deposit $ 70,565 in your account today. You make another deposit at t = 1 of $ 51,167 . How much…

A: Time value of money is one of important concept being used in finance. As per this concept, a dollar…

Q: ou plan to make twelve monthly payments of $1000 at the end of each month in the year 2024. Given…

A: Present value is the equivalent of the future cash flow that is required in the future based on the…

Q: You owe the bank $1,245 in 9 months.  How much do you need to deposit in an account today, earning…

A: As per the given information: Amount owed to the bank - $1,245 in 9 months Earning - 3.25% APR…

Q: Suppose an investor plans to make monthly deposits into an account that pays 9% interest, compounded…

A: We will first calculate the amount needed to pay on a monthly basis so we will take the period as…

Q: You deposit $300 each month into an account earning 7% interest compounded monthly. a) How much will…

A: Future value (FV) of today's money similar to the concept of compound interest which follows that…