your bank will pay you an interest rate of .142 percent per week. You want to have $26, 500 in 9 years. How much will you have to deposit today? Assume 52 weeks per year. Multiple Choice $ 13,943.80 $24, 615.03 $13, 640.67 $13,956.92 $13, 822.55

Q: you borrow $2,700 at 8% simple interest per year for five years, how much will you have to repay at…

A: interest =p×r×t100where,r=rate of interestp=principal t=years

Q: If you deposit $8,000 in a bank account that pays 7% interest annually, how much will be in your…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Suppose you want to have $400,000 for retirement in 20 years. Your account earns 8% interest. How…

A: Here, Particulars Values Future value (FV)  $ 4,00,000.00 Annual interest rate 8.00% Time…

Q: What rate of interest will you have to get per year if you would like to buy a car for $68,500 at…

A: Rate of interest is the percentage of return that is expected to be generated by investing in the…

Q: You would like to receive $6000 per month for 30 years after you retire in 40 years from now. The…

A: This pertains to time value of money. The monthly amount that you will deposit will grow in future…

Q: After retirement, you expect to live for 25 years. You would like to have $91,000 in income each…

A: In this question, we are required to determine the amount we need to have to receive income for 25…

Q: A bank is offering to pay you $1000 at the beginning of each month for the next 10 years. The…

A: Payment per month (PMT) = $1,000Timing = BeginningAnnual interest rate is 6%. So, monthly interest…

Q: You want to retire exactly 35 years from today with $2,080,000 in your retirement account. If you…

A: An annuity refers to a series of equal cash flows received or paid at regular intervals for a…

Q: You want to have $100,000 in your savings account 3 years from now, and you're prepared to make…

A:

Q: you want to purchase a car for 48000 in 9 years the bank has a guaranteed apr of 6.5 percent if you…

A: Annuity refers to the set of periodic payments made by the investor into an investment account or by…

Q: 13. You have a $3,500 credit card balance and the credit card company charges 12 pe interest…

A: Loans are paid by equal periodic payments that carry the payment of interest and payment of…

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: Your insurance agent is trying to sell you an annuity that costs $80,000 today. By buying this…

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

Q: You have $300 and a bank is offering 5.5% interest on deposits. If you deposit the money in the…

A: FV = PV * (1 + r)^nWhere FV = Future ValuePV = Present Value = $300r = rate of interest = 5.5%n =…

Q: A) How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: A.  Compound interest is the interest that the amount will be calculated on both principle and…

Q: You are planning to make monthly deposits of $70 into a retirement account that pays 8 percent…

A: ParticularAmountPayment (PMT)70Interest Rate (RATE)0.08No. of years (NPER)29Compounded 12

Q: ou have a growing payment stream that you want to be able to fully fund by making a single deposit…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

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: Your bank will pay you an interest rate of 0.102% per week. You want to have $22, 500 in 10 years.…

A: Future value=$22500Interest rate=0.102%Period=n=10 years=10 x 52=520 weeks

Q: Today you are opening a savings account and depositing an initial $5,000 into it. You plan to…

A: Maturity Value is that amount which will be received at the end of certain period of time. It…

Q: You wanted to accumulate $20,000 in 5 years from now and you decided to deposit 5 deposits with same…

A: Future value (FV) = $ 20000 Number of annual deposits (n) = 5 Real rate = 4% Inflation rate = 3%…

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 want to buy a new sports car 3 years from now, and you plan to save $4,800 per year, beginning…

A: FV of annuity= pmt*((1+r)^n-1) /r

Q: Retirement Investment Advisors, Incorporated, has just offered you an annual Interest rate of 4.9…

A: Future value refers to the value of cash flows or annuity at defined future date. It can be…

Q: You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of…

A: Future value of annuity=C×1+in-1iC=Cash flow per periodi=Interest raten=Number of payments

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: ont uplode any image in answer (Comprehensive problem)  You would like to have ​$70,000 in 15…

A: Annual deposit required depends on the time and interest rate and these changes with change in…

Q: You want to have $10000 in five years.  How much should you deposit today if the bank pays 4%…

A: $10000 in 5 Years  That is 5*12 months = 60 Months (n) Interest rate 4% annual compounded monthly…

Q: You want to invest $25,000 and are looking for safe investment options. Your bank is offering you a…

A: The objective of the question is to calculate the effective rate of return for a certificate of…

Q: You want to buy a new ski boat 2 years from now, and you plan to save $7,300 per year, beginning one…

A: Futures are an important financial concept that represents the value of an investment or asset at a…

Q: You are planning to save to purchase a car in 23 years for $28,000. You have opened a bank account…

A: Annuity is a series of equal payments made for some particular period of time . When payment is made…

Q: You want to save P85,000 for future family vacation (three years from now). If the bank pays 8.5%…

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

Q: Apply the concept from page 8-9 practice 4 of the VLN: How much could you borrow today if you make…

A: In the context of the given question, we can determine the required amount of borrowing money by…

Q: If you borrow $5,400 at a simple interest of 5% per year, how much will be repayed after 6 years?

A: Simple Interest is a method of calculating interest on the loan. It is calculated on the amount…

Q: You want to establish an annuity that will pay you $14,000 per year for 22 years. If the prevailing…

A: We need to use present value of ordinary annuity formula to calculate amount we need to deposit…

Q: You want to buy a car and therefore you borrowed $10,000 from a bank today for 6 years. The nominal…

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

Q: Assume that you need $1,000 four years from today. Your bank compoundsinterest at an 8 percent…

A: Honor code: Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Assume that you can invest to earn a stated annual rate of return of 12 percent, but where interest…

A: Semiannual interest rate (r) = 0.06 (i.e. 0.12 / 2) Number of deposits (n) = 20 Semiannual period…

Q: Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel…

A: Compound = Monthly = 12Future Value = fv = $400,000Time = t = 10 * 12 = 120Interest Rate = r = 9 /…

Q: You are going to deposit $3,500 in an account that pays .61 percent interest per quarter. How much…

A: The future value shows the value of the investment after a certain period at a specified rate. It is…

Q: If you want to have $60,000 in 8 years, how much do you need to deposit in the bank today if the…

A: Here. Required Amount in 8 Years  (FV) is$60,000 Interest Rate (r) is 9% Time Period is 8 years

Q: Suppose you want to have $600, 000 for retirement in 15 years. Your account earns 9% interest. Feel…

A: Future value=$600000Period= 15 yearsInterest rate=9%Monthly period=n=180Monthly interest…

Q: You will receive 23 annual payments of $20,500. The first payment will be received 5 years from…

A: Number of Payment = n = 23Annual Payment = p = $20,500Time = t = 5 -1 = 4Interest Rate = r = 4.9%

Q: How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank…

A: Given details are : Present value = $1500 Time period = 12 years Interest rate = 5% We need to…