You will invest $31 per month. If the rate is 8.07%, how much will you have in 6 years?

Q: If you pay $500 each year into an account that grows at 14% per year, how much will you have in the…

A: An annuity is end of year deposits made over a period of time at a specified rate of interest.The…

Q: Your friend plans to invest $1,000 per month into an account expected to have an effective annual…

A: Here, EAR is 6.2% Monthly payment (PMT) is $1,000 Required Amount (FV) is $100,000

Q: You are going to invest $6829 in 1 years and $7200 in 4 years.  If you expect to earn a return of…

A: The time value of money is a fundamental concept in finance that recognizes the idea that money…

Q: How much will you have saved after 6 years by contributing $1,200 at the end of each year if you…

A:

Q: suppose you want to make sure you have 2,000,000 when you retire in 35 years. what even annual…

A: We need to use future value of ordinary annuity formula to calculate the annual payment. The formula…

Q: How much will you have in 40 years if you save $3,000 each year and your account earns 8% interest…

A: In the given question we require to calculate the future value of payment made every year of $3000…

Q: You have an investment that will pay you 1.38 percent per month. How much will you have per dollar…

A: Future Value can be calculated using following formula FV = PV* (1 + r / n)nt Where, PV = Present…

Q: You expect to receive $10,000 in two years. You plan on investing it at 9 percent until you have…

A: Amount invested = a = $10,000 Interest rate = r = 9% Future value = $75,000 Time before investment =…

Q: If you invest $300 per month at an annual interest rate of 10%, how much will you have after 30…

A: Value of monthly payment after 30 years is calculated as the future value of monthly investment…

Q: If you have $6000 in your savings account with 0.8% APR compounded monthly, how much will you have…

A: Formula

Q: You put $200 per month in an investment plan that pays an APR of 4.5%. How much money will you have…

A: Monthly deposit (D) = $200 Monthly APR (r) = 0.00375 (i.e. 0.045 / 12) Monthly period (p) = 336…

Q: You want to have $500, 000 by saving for the next 10 years. If the annual percentage rate is 12% per…

A: The future value for an annuity refers to cumulative compounded value of all payments or deposits…

Q: Your plan is to have $40,000 in your account, 13 years from today. You can invest in an account that…

A: Future value required (FV) $40,000 Interest rate = 8.05% Monthly interest rate (r) = 8.05%/12 =…

Q: You are going to invest $9237 today and $9695 1 year from today.  If you expect to earn a return of…

A: Step 1 Future value is the amount of money that, with time and an interest rate, is invested now and…

Q: What return per year would you need to receive in order to double your money in 8 years?

A: Assume the present value = $100 Future value =Present value × 2 = $100 × 2= $200 Time period = 8…

Q: You invest $5,000 at 4.5% compounded monthly. What is your economic profit after 4 years if the risk…

A: The idea of the time value of money states that as time passes, so does the value of money. It…

Q: You plan to invest K10, 000 on the first day of every year for the next 6 years. If the interest…

A: The worth of a present asset at some point in the future, based on an assumed growth rate, is known…

Q: if you invest $20,000 in a security today, how much will it be worth in six years? The security pays…

A: We need to use compound interest rate formula for calculation amount after 6 years. A=P(1+i)n Where…

Q: You want to vacation in Paris for the summer months in 7 years. You determine your expenses to be…

A: Goal for the trip = Current Expenses * (1+ Inflation rate)^years

Q: You will invest $200 per year. If the rate is 8.83%, how much will you have in 13 years?

A: Amount invested per year is $200 Rate of interest is 8.83% Time period is 13 years To Find: Future…

Q: you want to have $15,000 at the end of 5 years. if you can earn a return of 3.2% annually, how much…

A: given, fv= $15000 r=3.2% n=5 years

Q: How much will I have saved after 6 years by contributing $1,200 at the end of each year if you…

A: Information Provided: Yearly contribution = $1200 Interest rate = 11% Years = 6

Q: Starting next year you plan to deposit $1000 each year into an account earning 9.25% effective…

A: Solution:- When an equal amount is deposited each period at end of period, it is called ordinary…