not use ai please Your great-grandpa put $1,000 in a bank account fifty-five years ago. Everyone in the family forgot about it but your dad. He withdrew$1,200 last year. Now he gives the remaining money to you as a graduation gift. How much money do you get if you withdraw themoney two years from now? Assume that the bank was paying a constant annual interest rate of 4% on that account.Group of answer choices$7,446$8,054$8,002$9,351$2,080

Step 1: Given that, Principal amount (P) = $1,000 Interest rate (r) = 4% Last year withdrew $1,200…

Answered: Your great-grandpa put $1,000 in a bank…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 28P

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
Your grandmother closed her bank account from a thrift bank and gotP6, 000, 000 with the 8% annual interest given. She said she has been savingup a same amount each year for 30 years where 8% interest has beenapplied. How much would her annual savings deposits be when her lastdeposit was a year ago? ANS:49, 041.3 show solution
Hi, How do I solve for the 2 annuities in this question? Thanks
Pls show full steps and correct pls.
Pretend that you are saving up for a down payment on a car or house. Pretend that we get an inheritance of $4,000 so we put the inheritance in a special bank account that pays 4.00% APR compounded quarterly for four-years. We also decide to save $400 a quarter into this savings account to help grow our down payment. a. How much money do we have in our savings account at the end of all these years? b. How much interest do we earn in total?
Pretend that you are saving up for a down payment on a car or house. Pretend that we get an inheritance of $4,000 so we put the inheritance in a special bank account that pays 4.00% APR compounded quarterly for four-years. We also decide to save $400 a quarter into this savings account to help grow our down payment. a. How much money do we have in our savings account at the end of all these years? b. How much interest do we earn in total?
Can i get help with solving the attached?
5. You take $100 to your local savings bank to invest for five years. You are given the choice of two investments by the banker Notifications Time Left 00:00:28 ? Guide Me 1. You can Invest in a regular savings account that pays you 14.00% interest each year with interest compounded annually. That is each year the interest you can gets deposited in your bank account and earns interest until the end of the five years. it. You can invest in a special account that pays you 20.00% interest each year, the catch is that the interest does not compound, Rattier each year the interest payrrient is put into a special account which collects no further interest and cannot be reinvested anywhere until the end of the five years Which option should you select and why? a, Select Option i: It earns $44.63 more than Optianill b. Both Options earn you the same amount of money so you are indifferent between the two c. Select Option it It earns $7.46 more than Option d. Select Option it It earns $30.00…
Please don’t reject question question is complete. Please answer questions with explanations thx .
I need the answers to 5.5, 5.7 A, 5.7 B.
Your sister just deposited $10,000 into an investment account. She believes that she will earn an annual return of 9.7 percent for the next 6 years. You believe that you will only be able to earn an annual return of 9 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 6 years? Multiple Choice $391.56 $1,326.80 $466.46 $365.46 $417.66
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

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