You will deposit $10,000 today. It will grow for 10 years at 10% interest compounded monthly. You will then withdraw the funds quarterly over the next 4 years. The annual interest rate over those 4 years is 8%. Your annual withdrawal will be: Multiple Choice   $1691.90.   $1993.74.   $1789.37.   $660.87

Q: Suppose an individual makes an initial investment of $2,400 in an account that earns 6.6%,…

A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Q: You wish to accumulate $60,000.  You make 14 quarterly deposits into a savings account with an…

A: Amount required (F) = $60,000Number of deposits (n) = 14Quarterly interest rate (r) = 0.12Amount of…

Q: If you wish to withdraw $200 at the end of EACH of the next 3 years earning 3.5% per year, what…

A: Present Value of annuity refers to the current value of all the series of payments or income at…

Q: You deposit $62000 into an account which pays 3% compounded monthly. You leave the money in the…

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

Q: You deposit $7,000 into an account earning interest at a 7% APR.  You keep the money in the account…

A: Initial deposit = $7,000 Interest rate = 0.07 or 7% Period = 5 years Money in account at the end of…

Q: You are making $5,000 monthly deposits into a fund that pays interest at rate of 6% compounded…

A: We need to use the concept of time value of money (TVM) to solve the question. According to TVM, the…

Q: Beginning 2 years from today, you deposit $1,500 per year for 18 years (18 deposits); for the…

A: Present value of 18 deposits at the end of Year 1 would present value annuity of $1500 for 18 years…

Q: trend has openned an RRSP account by making an initial deposit of $1000. he intends to make annual…

A: Future Value of Growing Annuity helps in ascertaining the total amount accumulated at the end of a…

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: 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: An investment account returns 2.81% annually. You want to withdraw $ 9,000 each year for the next 9…

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

Q: You will deposit $5,000 today. It will grow for 9 years at 12% interest compounded semiannually. You…

A: A regular, periodic contribution of money or funds that is made once a year, often on an annual…

Q: You deposit $200 each year in an account for 15 years and then $400 each year in the same account…

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

Q: Pascal has recently opened an RRSP. He plans to deposit $ 733 at the end of every month for 20…

A: RRSP is the retirement plan and contribution made are tax free and used to accumulate fund for…

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: will be making end of month deposits of $800 into the account for 12.5 years. How much will you need…

A: The future value is an estimate of how much money you will have in the future from investments or…

Q: 1.Assume that you deposit $946 into an account that pays 11 percent per annum. How much money will…

A: Time value of money refers to the concept that money available at the present time is worth more…

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: You will deposit $202 each of the next four years (the first deposit will occur one year from today,…

A: 92 COMPOUNDED ANNUALLY ROUNDED 2 DECIMAL 93 F G   94 INTEREST RATE 7.50%   95 NPER (n)  4…

Q: You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years.…

A: Gross amount placed in the account is simply the sum of all the payments made in the account.

Q: Your goal is to accumulate $60,000 in seven years' time.  What monthly deposit must you make into a…

A: Interest rate per month = 12%/12 = 1% per month Time period = 7 years * 12 = 84

Q: You deposit $400 at the end of each month into an account earning 3.7% interest compounded monthly.…

A: Future Value (FV) is a financial concept that represents the projected worth of a sum of money at a…

Q: You deposit $57000 into an account which pays 7% compounded annually. How much can you withdraw at…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: You will deposit $12,000 today. It will grow for 6 years at 10% interest compounded semiannually.…

A: Compound of deposit = Semiannually = 2Invested Amount = pv = $12,000deposit Time = td = 6 * 2 =…

Q: You plan to deposit $5, 706 into a savings account paying 8% interest compounded quarterly. How much…

A: whereFV = Future value = amount at the endPV = Present value = amount deposited today = $5,706i =…

Q: you deposited $120 the first year in an account that earns 12% annual interest. You also increased…

A: Given:Initial deposit (P1​) = $120Annual increase (ΔP) = $200Interest rate (r) = 12% or 0.12Number…

Q: Gary King will deposit $27500 into an account today that earns 13% per year compounded annually.…

A: Given information: Principle amount = $27,500 Rate of interest = 13% Period = 5 years

Q: You deposit $87000 into an account which pays 4% compounded quarterly. You leave the money in the…

A: Compound = Quarterly = 4Present Value = pv = $87,000Interest Rate = r = 4 / 4 = 1%Time = t = 10 * 4…

Q: you deposit $9000 into a bank account that pays 3.15% annual interest, compound quarterly. How much…

A: The time value of money is a concept in finance that accounts for the effect of compounding in…

Q: You deposit $78000 into an account that pays 5% compounded quarterly. You leave the money in the…

A: Computation:

Q: You deposit $2,000 in an account today earning 8% per year.  Five years from today, you make another…

A: Using excel PV and FV function