you want to withdraw $100 from an account in year one. Also, you want to withdraw $200, $250 and $70 in year 2, 3 and 4 from the same account. If the interest rate is 12% compounded annually, how much money should you deposit in that account at the beginning of year one to withdraw that money?Check your answer with interest table which calculate the increase/decrease for each year

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Q: If you deposit OMR 27177 in your account in a bank. Suppose the bank pays 12% compound interest…

A:

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Q: You invest money into an account that earns interest at an unknown annual rate compounded…

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Q: You plan to deposit $4,000 today, $2,000 in one year and $4,000 in two years into an account earning…

A: Here, Deposit Amount  today (D0) is $4,000 Deposit Amount in One Year (D1) is $2,000 Deposit Amount…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 10…

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

Q: When you buy a certificate of deposit (CD), you are investing your money in an account that earns…

A: The formula used to compute final worth of CD as follows: A=P1+rnnt

Q: An investment account returns 6.29% annually. You want to withdraw $ 10,000 each year for the next…

A: The present value of an annuity is the value today of a series of equal payments made at fixed…

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

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Q: Bank with an interest of 12% compounded annually. You can pay off the debt in 4 years by paying $310…

A: Present value:Present value is a financial concept that refers to the current worth of a future sum…

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

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A: Here, To Find: Weekly withdrawals =?

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

Q: How much should be deposited now into an account earning 8.4 % interest per year, compounded every 6…

A: Compound = 6 months = Semiannually = 2Interest Rate = r = 8.4 / 2 = 4.2%Payment = p = $1500Time = t…

Q: 7.  Your goal is to have $15,000 in your bank account by the end of eight years. If the interest…

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

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A: Interest Amount = Principal * ( 1 + r )n - Principal

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A: Present Value ( PV ) = 14000 Future Value (FV) = 24262.99 Annual Rate  (r) = 9.2% Monthly Rate =…

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