You plan to deposit $3,600 each year for the next 12 years. The interest rate is 9 percent. If you currently have $10,000 in your account, how much would you have in the account at the end of the 12th year? Group of answer choices $98,216 $43,136 $93,499 $53,200 $100,633
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- 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 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 $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?
- 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 want to have $67,000 in your savings account 10 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 6.3 percent interest, what amount must you deposit each year? Group of answer choices $6,700.00 $5,011.98 $4,221.01 $4,220.99 $9,350.13You want to have $100,000 in your savings account 3 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 11 percent interest, what amount must you deposit each year? Question 5 options: $30,619 $29,921 $31,051 $24,470 $31,501
- You estimate you'll need $100,000 per year for 25 years starting on your 65th birthday to live on during your retirement. Today is your 50th birthday and you want to make equal deposits into an account paying 9% interest per year, the first deposit today and the last deposit on your 64th birthday. How much must each deposit be? Group of answer choices $49, 380 $33, 455 $66, 909 $ 85, 840You want to have $49,000 in your savings account 4 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 6.7 percent interest, what amount must you deposit each year? Multiple Choice $3,282.96 $11,085.33 $14,206.71If you were to put $1,000 in the bank each year for the next 10 years at 6% interest, which table would you use to find the ending balance in your account? Group of answer choices Future value of $1 Present value of an annuity of $1 Future value of an annuity of $1 Present value of $1
- You purchase an annuity that will pay you $100 every three months for five years. The first $100 payment will be made as soon as you purchases the investment. If your required rate of return is 9% , how much should you be willing to pay for this investment? Group of answer choices $1,596.82 $1,632.29 $1,759.34 $1,510.46You would like to receive $6000 per month for 30 years after you retire in 40 years from now. The first monthly payment is to be received at the end of the 1st month after you retire. The retirement account is expected to provide 11% return. What is the amount you must deposit each year for 40 years to achieve your goal? Group of answer choices $28,921.22 $1,082.86 $3,956.71 $21,912.45 $2,233.41After retirement, you expect to live for 25 years. You would like to have $90,000 in income each year. How much should you have saved in your retirement account to receive this income if the annual interest rate is 9 percent per year? (Assume that the payments start one year after your retirement.) Multiple Choice $884,032.16 $99.986.08 $2,250,000.00 $1,456,153.94