You want to have GH¢ 50,000 in your savings account five years from now, and you’re prepared to make equal annual deposits into the account at the end of each year

Q: You make two annual payments of $2,000 each (the first payment is made one year from today) into a…

A: Number of annual payments (N) = 2 Payment = 2000 Interest rate = 10%

Q: If you deposit $50,000 in an account that pays an annual interest rate of 10% compounded monthly,…

A: The objective of this question is to calculate the future value of an investment given the initial…

Q: You want to have $40,000 in your savings account 6 years from now, and you're prepared to make equal…

A: The concept of time value of money will be used here and that of annuities. The amount of $40,000 is…

Q: ou deposit $500 in an account earning 7% interest compounded annually. How much will you have in…

A: Given information: Present Value of deposited money : $500 Interest rate : 7% Time period : 10 years…

Q: If you borrow $2800 and agree to repay the loan in 5 equal annual payments at an interest rate of…

A: Using excel PMT function to calculate the yearly payment

Q: You are set to receive an annual payment of $10,900 per year for the next 15 years. Assume the…

A: First we need to use future value of ordinary annuity( payment due at end of period) formula to…

Q: You expect to receive $1,000 at the end of each of the next 3 years. You will deposit these payments…

A: Future value refers to the value of the current asset at some future date affected by interest and…

Q: Suppose you have $2,100 and plan to purchase a 10-year certificate of deposit (CD) that pays 13.1%…

A: Value when the CD matures = 2100 x (1 + 0.131)^10 = $7191.93

Q: If you deposit $8700 today in an account that pays 8.5% per year, compounded quarterly, how much…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You want to have $46,000 in your savings account 6 years from now, and you're prepared to make equal…

A: Annuity is a series of payments being made in order to receive more value in future. Under ordinary…

Q: Anuonyam plans to deposit GH¢80 in an account at the end of each of the next 20 years. If the…

A: Principal = GH¢80 Time = 20 years Rate = 17% Future value = ?

Q: If you deposit $700 every year for the next 5 years, with first deposit to be made today and all…

A: Amount deposit per year = $700 Time period = 5 Years Interest Rate = 3.76%

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…

Q: You are set to receive an annual payment of $11,200 per year for the next 18 years. Assume the…

A: Given the following: Annual payment, A = $11,200  Period, n = 18 years  Interest rate, r = 6.1%

Q: Your bank account pays an interest rate of 6 percent, but this interest is compounded daily (use…

A: Interest rate on account = 6% (compounded daily) Amount A = P(1 + r/n)nt Where A = amount P =…

Q: what is the present value of this stipen

A: Present Value:  The present value is the present sum of a series of fixed payments. The series of…

Q: You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6.…

A: Answer: Calculation of the amount that will be available to withdraw at the end of year 15: The…

Q: You need to have $33,500 in 14 years. You can earn an annual interest rate of 5 percent for the…

A: The deposit amount today is calculated as the present value of required amount in future. Present…

Q: If you want to be paid from a 15 year ordinary annuity with a guaranteed rate of 4.277% compounded…

A: Annual payment (C) = $10,000 Period (n) = 15 Years rate (r) = 0.04277 (i.e. 4.277%) Present value or…

Q: You want to have $67,000 in your savings account 10 years from now, and you're prepared to make…

A: Payment per period is the regular payments made or received of an investment, while future value is…

Q: You expect to receive P1,000 at the end of each of the next 3 years. You will deposit these payments…

A: Future value: It can be defined as the value of an investment or any asset at a specified future…

Q: If you deposit $12,000 per year, at the end of each year for 8 years in an account that pays an…

A: Annuity refers to a stream of constant and periodic cash flows. The annual amount of $12000 is an…

Q: Suppose you put $100 into a savings account today, the account pays a nominal annual interest rate…

A: Future Value Future Value is the value which is measured at a specified date at a given interest…

Q: You want to have $51,000 in your savings account 9 years from now, and you're prepared to make equal…

A: Payment per period is the regular payments made or received of an investment, while future value is…

Q: You Save Bank has aunique account. If you deposit $9,000 today, the bank will pay you an annual…

A: FV = A*(1+r)nwhereFV = future valueA = amount investedr = interest raten =time period

Q: You need to have 80,000 at the end of 7 years. To accumulate this sum, you have decided to save a…

A: Time Period = 7 years Future Value Required = 80,000 End of period deposits Interest Rate = 11%…

Q: If you deposit $287.50 into an interest-bearing savings account today, what rate of interest must be…

A: Deposit amount = $287.5Amount after 14 years = $650.01A = P ( 1+r)nP = principal   = $287.5r = rate…

Q: If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much would be…

A: Future value of a lumpsum deposited today can be calculated using the future value…

Q: You need to have $30,750 in 11 years. You can earn an annual interest rate of 6 percent for the…

A: To calculate the deposit amount we will use the below formula   Deposit amount =…

Q: You deposit $58000 into an account which pays 6% compounded annually. How much can you withdraw at…

A: Perpetual annual withdrawal refers to the amount of repayment for n number of years forever. This…

Q: You deposit $1,000 into an account every six months to help with your down payment savings for a…

A: Compound Interest = P(1 + r)nP = PrincipleR = Rate of Interest N = Period

Q: If you deposit $3,000 at the end of each of the next 10 years into an account paying 12.0% interest,…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: You deposit $3375 today in a savings account that pays 6.25% interest, compounded annually. How much…

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

Q: How much do you have to deposit today so that beginning 11 years from now you can withdraw ​$12,000…

A: Given, Amount that can be withdrawn from years 11 to 16 is $12000 Additional amount at end of 16 th…