You wish to deposit an amount now that will accumulate to $100,000 in 10 years. How much less would you have to deposit if the rate of interest was 8% compounded monthly versus annually? Multiple Choice   $1,067   $1,367   $967   $1,267   $1,167 Show me all the calculation steps and formulas if necessary

Q: If you deposit ​$2 comma 7002,700 today into an account earning an annual rate of return of 1313…

A: The objective of this question is to calculate the future value of a single deposit of $2,700 at an…

Q: f you were to put $1,000 in the bank each year for the next 10 years at 6% interest, which table…

A: Future value of $ 1: This table is used to calculate the future value of a single amount invested…

Q: Assume you deposit $1,000 today in an account that pays 8 percent interest (compounded annually).…

A: Given: Present value = $1,000 Years = 4 Interest rate = 8%

Q: You deposit $2,000 one year and $1000 next year starting year 1 until year 30 with an interest rate…

A: The given problem is calculated using Excel. Interest amount = Opening balance X interest rate…

Q: Suppose you have $2,200 and plan to purchase a 10-year certificate of deposit (CD) that pays 10.9%…

A: b. $6,190.68 Explanation:We can calculate the future value of the CD using the compound interest…

Q: If you deposit $500 per year in an account for six years at 9 percent compounded annually, how much…

A: Data given: Deposit per year=$500 n=6 year Rate=9% p.a. (compounded annually)   Note: Assumed $500…

Q: Suppose you deposit $5,000 into an account at the end of 2021, $4,500 at the end of 2022, $4000 at…

A: Here in this question, we are required to calculate how much amount will be accumulated after last…

Q: Fill in an amortaization table for a loan of $9,300 to be paid back over 4 years, semiannually. At…

A: The amortization table is a table that shows the payment, interest and principal repayment of each…

Q: You purchase an annuity that will pay you $100 every three months for five years. The first $100…

A: FORMULA FOR PRESENT VALUE OF ANNUITY (FVA): PVA=A×1-1+rmm×nrm×1+rm where, A=annuity r=rate…

Q: deposit $1,000 in an account that earns an APR of 5% compounded once per year a) How long will it…

A: Future value of the amount includes the amount of deposit done and amount of compounded interest…

Q: You plan to depost $5.300 a paying 10.3 percent interest & How much money will you have in the…

A: We can determine the FV of an annuity using the formula below:In the formula above, PMT = periodic…

Q: How much money (to the nearest dollar) will you need to deposit in an account now in order to have…

A: Present value is the sum of the current value of money of future cash flows. It is also known as a…

Q: sh to deposit an amount now that will accumulate to $200,000 in 25 years. How much more would you…

A: The extra amount to be deposited can be calculated as follows :

Q: 26 27 28 29 30 5% I 7% I5% 7% 5% I 7% 5% I %7 2000 1000 2000 1000 1000 2000 1000 2000 1000 2.

A: Sum of Geometric Progression =[a(rn−1) ] / ( r−1 ) a = first term r = common ratio

Q: magine you have a credit card balance of $1,000 that you would like to pay off within one year. The…

A: The credits cards are settled on the monthly payments and are paid by monthly payments and these…

Q: Find the total amount that must be repaid on the following note described. $8,593 borrowed at 18.5%…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Acme Annuities recently offered an annuity that pays 4.2% compounded monthly. What equal monthly…

A: given information  interest rate = 4.2 = 4.2100 = 0.042   monthly rate = 0.04212 = 0.0035  future…

Q: Suppose you have $2,300 and plan to purchase a 10-year certificate of deposit (CD) that pays 10.4%…

A: A Certificate of Deposit (CD) is a financial tool that offers a predetermined interest rate for a…

Q: Suppose that you need an amount of money which equals to $10000000. It is possible to find it from…

A: To find equal monthly payments we have to calculate present value FACTOR and find equated monthly…

Q: Suppose that you deposited $5,999 at the end of each year in a Roth IRA account earning an annual…

A: A Roth IRA (Individual Retirement Account) is a tax-advantaged retirement savings account that…

Q: Suppose you deposit $10 every week into an account that earns 4% interest compounded weekly.  How…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: If you deposit #9989 into an account paying 3.6% annual interest compounded monthly, how much money…

A: The importance of future value:  Future value is a crucial estimate since it informs investors and…

Q: You wish to save $51000 in an account which pays 4% compounded monthly by making semiannual deposits…

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

Q: If you put $1,000 in a savings account that pays interest at the rate of 3 percent, compounded…

A: Present Value = pv = $1000Interest Rate = r = 3%Time = t = 7 Years

Q: If you would like to have$ 10,000 after 8 years, how much money should you deposit now if the…

A: Present value considers the time value of money concept. It considers the discounting factor at…

Q: The amount a person would need to deposit today with a 9% interest rate to have $2500 in 3 years.…

A: The amount which is to be received in future is the future value of the current amount deposited at…

Q: Every year you deposit $3,500 into an account that eams 1% Click the icon to view the interest and…

A: As you deposit money into the annuity account the interest accumulated over the period of time and…

Q: You need to have $31,000 in 5 years. You can earn an annual interest rate of 3 percent for the first…

A: In this question, we are required to determine the amount we need to invest today.

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

A: Year 11 cash flow = 15000 Year 12 cash flow = 15000 Year 13 cash flow = 15000 Year 14 cash flow =…