You put $2,000 in an account today. After 35 years, how much is in the account assuming no other deposits or withdrawals? Assume a 6% APR and quarterly compounding. $70,000.00 $15,372.17 $16,079.62 $16,247.10

You put $2,000 in an account today. After 35 years, how much is in the account assuming no other deposits or withdrawals? Assume a 6% APR and quarterly compounding. $70,000.00 $15,372.17 $16,079.62 $16,247.10

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

See similar textbooks

Similar questions

You have been making quarterly contributions to your savings account for the last 12 years. If your contributions are $1,900 per quarter (at the end of quarters) and your savings account offers the APR of 5%, how much money do you have in that account? $127,246 $131,108 $120,357 $135,560 $123,934
Suppose that $850,000 is invested in a savings account paying 5.25% interest per year. (Round answers to nearest hundredths or two decimal places.) a) Find the amount in the account after 11 years if interest is compounded monthly. 1 b) Find the amount in the account after 11 years if interest at continuous compound interest. c) How much interest was earned from continuous compounding in the 11 years? d) How long will it take for the amount in the account to grow to $2,000,000 if interest is compounded quarterly?
JP just made a deposit of $4,321 is made today in an account earning 5.3% APR compounded annually. What is the future value of JP's deposit in 15 years? Enter answer in dollars, rounded to the nearest dollar.
If for the next 30 years you place $2,000 in equal year-end-deposits into an account earning 5% per year, how much money will be in the account at the end of that time period? O A. $1,890,000 B. $63,000 O C. $132,878 O D. $1,200,000
1. Your goal is to have $10,000 in your bank account by the end of eight years. If the interest rate remains constant at 10% and you want to make annual identical deposits, what amount will you have to deposit into your account at the end of each year to reach your goal? $787.00 $961.88 $874.44 $612.11 2. If your deposits were made at the beginning of each year rather than an at the end, what is the amount your deposit would change by if you still wanted to reach your financial goal by the end of eight years? $75.52 $99.38 $67.58 $79.50
You need to have $50,000 in a bank account 28 years from today. Assume APR is 12% and monthly compounding. How much money must be in the account 6 years from now assuming no other deposits or withdrawals? $4,132.12 $2,093.46 $3,709.32 $3,615.16 $5,836.23
(c) How much money must be put into a bank account yielding 3.5% (compounded annually) in order to have $1,250 at the end of 10 years (round to nearest $1)?
What lump sum of money must be deposited into a bank account at the present time so that $600 per month can be withdrawn for give years, with the first withdrawal scheduled for six years from today? The interest rate is 1/4% per month. (Hint: There are 60 monthly withdrawals and they begin at the end of the month 72 the lump of money should be $?
Shawn Bowker invested $10,000 in a money market account that will pay 5.75 percent compounded quarterly. How much will the interest on interest be after three years? 143.13 $59.55 $68.63 $575 O $1,725.00
1. If $100 is deposited today in an account paying 9 percent compound annual interest, how much will be in the account at the end of 4 years? (A) $70.84 (B) $141.16 (C) 323.97 (D) $457.31 2. If Bill deposits $8,000 today in an account that pays 3% compound annual interest, how long will it take for the account to reach $10,000? (A) 3.77 years (B) 4.58 years (C) 6.12 years (D) 7.55 years 3. How much money do you need to deposit today in a savings account earning 9 percent compound annual interest if your goal is to accumulate $10,000 at the end of 4 years. (A) $3,086.71 (B) $7,084.25 (C) $7,721.83 (D) $14,115.82 4. John needs to accumulate $25,000 in a savings account over the next 5 years. He can make five annual deposits of $4,000 starting today. What compound annual rate of return must the account earn in order for John to meet his goal? (A) 5.00% (B) 6.12% (C) 6.67% (D) 7.53% 5. If $1,000 is deposited into a savings account at the beginning of each of the next 4 years starting…
Ee.121.
Suppose you invest $3,800 today in an account that earns a nominal annual rate (inom) of 12 percent, with interest compounded quarterly. How much money will you have after 12 years? a. $5,417.89 b. $15,702.56 c. $14,804.71 d. $875,484.95 e. $51,072.00

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

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

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

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

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS