Your father made an investment plan for you. He decided to deposit Rs. 2,000 in a savings account for you on each and every one of your birthdays, beginning with your 5th. The savings account bears a 15 percent compound annual rate of interest, compounded semiannually . You have just turned 28 and want all the cash. However, it turns out that your father made no deposits on your sixth, seventh, and thirteenth birthdays. How much is in the account now – on your twenty-eighth birthday?

Q: every month in a savings account that earns 3.20% compounded monthly. a. How much did Brian have in…

A: A series of regular fixed periodic payments made at each interval is annuity. The broad…

Q: A young man saved his money every quarter for 5 years into his bank account. He deposits P2.000 per…

A: Quarterly deposit first 2 years = P 2000 Quarterly deposit next 3 years = P 4000 Annual interest…

Q: Your parent started to deposit monthly $20,000 in the bank 2 years after birth. The bank offers are…

A: Amount deposited $20,000 monthly Rate of interest is 6%.

Q: Your brother has decided to ask you for advice about saving up for his teenager's college fund. He…

A: Answer: Calculation of the amount that your brother need to deposit today: The amount that your…

Q: Michael Perez deposited a total of $3000 with two savings institutions. Bank A pays interest at the…

A: Total amount deposited = $3,000Bank ALet Amount deposited in Bank A be P.Annual interest rate = 6%…

Q: Your sister just deposited $6,500 into an investment account. She believes that she will earn an…

A: Present Value (PV) calculates the current worth of a future sum of money or a series of future cash…

Q: A rich man deposits money at a bank with 8.66% interest compounded annually 13 years ago. After…

A: This question can be solved by applying the concept of time value of money. The concept of time…

Q: Ms. Whitmell is helping her two friends, Sally and Johnny, invest money to save for the future.…

A: Sally Present value = $1,200  Interest rate = 3.8% per annum compounded quarterly Johny Present…

Q: James deposited RM150 at the beginning of each month for two years into his savings account. For the…

A: Monthly compound interest refers to the interest that is compounded on a monthly basis, which is…

Q: Your grandmother has been putting $600 into a savings account on every birthday since your first…

A: The future value of an annuity can be calculated using the formula,

Q: Your grandmother deposited $10,000 in an investment account on the day you were born to help pay…

A: Solution:- An amount deposited today somewhere earns interest. The amount invested in beginning is…

Q: You have just remembered that four years ago you placed $1,000 in a bank account. If the bank was…

A: PV x (1+r)n=FV

Q: Pedro deposits a sum of money in Metrobank for Juan. He wants Metrobank to send Juan checks of P…

A: 1.  There are 10 years to go till age 16. 2. Since the first payment is going to be done at age 16,…

Q: On a child's first birthday, a parent wishes to deposit enough money so that the child can withdraw…

A: Present Value of annuity = Annual payments * PVAF(rate, number of years) Present Value = Future…

Q: Suppose a child's parents decide to make annual deposits to a savings account, making the first…

A: The present value of the cash flow is the current worth of a cash flow at a certain rate of interest…

Q: Jace is trying to determine how to invest $1,234.56 that he inherited from his cousin Elijah.  He…

A: Note: All the Given Options are incorrect, so we are solving the correct one for you as per the…

Q: Suppose that your parents decide tổ make deposits into a savings account, With the first deposit…

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

Q: Your grandfather put some money into an account for you on the day you were born. You are now 18…

A: It represents the expected amount or value of the current asset at a future date. It is estimated by…

Q: retires today with their savings of £350,000. They invest all the money in a bank account which pays…

A: There is a need for financial planning for the objectives which are to be achieved in the future…

Q: Your sister just deposited $9,000 into an investment account. She believes that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: 1. John’s goal in life is to be a millionaire. He has $6,980 in a saving account and figure he is…

A: 1. The formulation sheet is annexed below: To open the "NPER function" window - MS-Excel -->…

Q: Your newborn daughter has received a total of 8,000 in cash from various friends and relatives. If…

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

Q: When Gerardo was born, his grandparents started a savings account for him with a beginning balance…

A: The objective of the question is to find out how much of the money in Gerardo's account was earned…

Q: Roland just put RM1,000 in the fixed deposit and intend to leave it there for 10 years. If the bank…

A: Investment amount = RM 1,000 Annual interest rate = 16% Semi annual interest rate = 16%/2 = 8%…

Q: Thirty years ago, your parents opened an investment account with a single deposit of $2,000. They…

A: Investment amount (P) = $2000 Period (n) = 30 Years Accumulated amount (F) = $26,905

Q: He wants to deposit his savings into a bank account. How much does Jacob have to deposit now in the…

A: Present Value The present value is the value of cash flow stream or the fixed lump sum amount at…

Q: Julie deposited some money in a savings account this morning. Her money will earn 5 percent…

A: Computation:

Q: Your sister just deposited $12,000 into an investment account. She believes that she will earn an…

A: Present value : Present value is a financial concept used to determine the current value of future…

Q: Gilberto opened a savings account for his daughter and deposited $1300 on the day she was born. Each…

A: The future value is the value of investment at a future date after the payments are compounded using…

Q: How much do you think her parents must deposit now in order for her to have a total of RM30,000 at…

A: Present Value: It is the present worth of the annuity payments or savings made in the future.…

Q: You decide to set up a college fund for your 10-year-old child and plan to make annual deposits into…

A: When a payment is made repeatedly then it is referred to as Annuity. Annuity is of two types: 1.…

Q: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: Value of sister's investment account in 7 years is calculated using following equation Future value…

Q: Two years ago my daughter was born. On the day she was born I put $4000 into an account for her. The…

A: Future worth is the worth of current amount at some future specified date considering compounding…

Q: A woman deposits $8000 at the end of each year for 13 years in an acc (a) Find the final amount she…

A: Accrued amount refers to the compile sum of income, interest and all the desired expenses that needs…

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A: The quarterly compounded rate is 9% per annum that means 2.25% per quarter compounded quarterly…

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A: The amount of money in her account when she turns 70 is calculated by using the future value formula…

Q: John and Susan just opened savings accounts at two different banks. Each deposited $1,000. John's…

A: Given information: Deposit amount $1,000 John bank pays 10% annual rate Susan bank pays 9.5% annual…

Q: 1. At the beginning of the year, P5, 000 was invested in a deposit account earning 8% annually. How…

A: Principal= P 5,000 Interest= 8% T=1 year Interest= Principal × Rate × Time             =5,000× 8% ×…

Q: Steven just deposited $10,000 in a bank account that has a 12% interest rate.  Steven also plans to…

A: Future value is a concept in finance that refers to the amount of money an investment or a series of…