Six years from today you need $10,000. You plan to deposit$1,500 annually, with the first payment to be made a year from today, in an account thatpays a 5% effective annual rate. Your last deposit, which will occur at the end of Year 6,will be for less than $1,500 if less is needed to reach $10,000. How large will your last paymentbe?

Q: You are scheduled to receive $19,000 in two years. When you receive it, you will invest it for six…

A: Present value means today's value of the future value of money. It means that the present time…

Q: You wish to purchase a home for $500,000. You will make payments of $30,000 at the end of every…

A: A sum borrowed to meet specific personal or business funding needs is recognized as a loan/mortgage.…

Q: ou plan to invest $5,000 at the end of each of the next 10 years in an account that has a 9 percent…

A: Future Value is the value of current investments at a certain future date at the assumed…

Q: You decide to make annual deposits of $300.00 for 12 years into an account which pays 5% compounded…

A: Annual deposits = $300 Time duration = 12 years Interest Rate = 5%  The future value of the annuity…

Q: You have $27, 467.55 in a brokerage account, and you plan to deposit an additional $5, 000 at the…

A: The amount in the brokerage account (PV) at present is $27,467.55.The annual deposit (PMT) is…

Q: You have 45,589.25 in a brokerage and you to deposit an additional 5,000 at the end of every future…

A: Time value of money concept will be applied here. Money deposited in an account grows as the amount…

Q: You are scheduled to receive Rs. 360,000 in two years. When you receive it, you will invest it for…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Suppose you currently have $20,000 and plan to purchase a 8-year certificate of deposit (CD) that…

A: Using the Future value and NPER function in excel

Q: You have $67,046.95 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

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

Q: You need $24787 in 5 years.  If you think you could earn an annual rate of 12.35%, what would be…

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

Q: (Comprehensive problem) You would like to have $59,000 in 15 years. To accumulate this amount, you…

A: Annuity is the series of equal cash payments over the period.

Q: (Comprehensive problem) You would like to have $57,000 in 13 years. To accumulate this amount, you…

A: Here,ParticularsValuesFuture value (FV) $  57,000.00Number of years (NPER)13.00Interest rate…

Q: Anuonyam plans to deposit GH¢80 in an account at the end of each of the next 20 years. If the…

A: Principal = GH¢80 Time = 20 years Rate = 17% Future value = ?

Q: If you deposit $700 every year for the next 5 years, with first deposit to be made today and all…

A: Amount deposit per year = $700 Time period = 5 Years Interest Rate = 3.76%

Q: You want to be able to withdraw $8500 from an account at the end of each 6-month period (that is,…

A: Given that;Periodic withdrawal amount is $8500Interest rate is 2.9% per year

Q: Six years from today you need $10,000. You plan to deposit $1,400 annually, with the first payment…

A: Future value represents the future worth of present cash flows. It is calculated by compounding the…

Q: You purchase a 10-year annuity that pays you \$ 30000 / v * ear . The first payment will begin in…

A:

Q: What will be the value in your account at the end of Year 30?

A: Future Value of Annuity: It represents the future worth of the annuity payments made for a given…

Q: If you want to receive $1,000 each year for the next three years how much should you invest today?…

A: The objective of the question is to find out the present value of an annuity. An annuity is a series…

Q: You are set to receive an annual payment of $11,200 per year for the next 18 years. Assume the…

A: Given the following: Annual payment, A = $11,200  Period, n = 18 years  Interest rate, r = 6.1%

Q: You are considering taking out a loan of $6,000.00 that will be paid back over 10 years with…

A: We take loans when we are faced with a problem of financial or liquidity crunch. The loan is repaid…

Q: You have $20,800.51 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The number of years required to accomplish the goal can be find out by using the future value of…

Q: You plan to deposit $200 at the end of every six months for 8 years starting at the end of month 6.…

A: Answer: Calculation of the amount that will be available to withdraw at the end of year 15: The…

Q: 22) An investment pays you $5,000 at the end of each of the next five years. Your plan is to invest…

A: The amount after 5 years can be computed using the future value formula.

Q: You need to have $33,500 in 14 years. You can earn an annual interest rate of 5 percent for the…

A: The deposit amount today is calculated as the present value of required amount in future. Present…

Q: You have $51, 854.38 in a brokerage account, and you plan to deposit an additional $3,000 at the end…

A: The time value of money is a concept in finance that takes into account the effects of compounding…

Q: You will deposit $202 each of the next four years (the first deposit will occur one year from today,…

A: 92 COMPOUNDED ANNUALLY ROUNDED 2 DECIMAL 93 F G   94 INTEREST RATE 7.50%   95 NPER (n)  4…

Q: You expect to receive $3,100 upon your graduation and will invest your windfall at an interest rate…

A: Here, Particulars Values Present value of money (PV)  $ 3,100.00 Quarterly interest rate…

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: When you retire 40 years from now you plan to make 10 withdrawals from your savings account. You…

A: Annuity refers to series of equalized payments that are received or paid either at start or end of…

Q: You need to accumulate $10,000. To do so, you plan to make deposits of $1,350 per year with the…

A: Future value is an estimate of future cash values ​​that may be received at a future date,…

Q: You need $150,000 at the end of the 20th year. You are thinking about two ways of saving the money.…

A: Solution:- When an amount is deposited somewhere, it earns interest on it. The amount initially…

Q: You need to have $30,750 in 11 years. You can earn an annual interest rate of 6 percent for the…

A: To calculate the deposit amount we will use the below formula   Deposit amount =…

Q: You expect to receive a one-time payment of $1,000 in 10 years and a second payment of $1,500 in 15…

A: Here, One-time payment = $1,000 in 10 years Second payment = $1,500 in 15 years Annual interest rate…

Q: Six years from today you need $10,000. You plan to deposit $1,500 annually, with the first payment…

A: Future value refers to the value of an asset or investment at a future date, considering the rate of…

Q: How much will you have to save each year (to the nearest dollar)?

A: Time value of money (TVM) means that the amount of money received in the present period will have…

Q: You have $58,138.29 in a brokerage account, and you plan to deposit an additional $4,000 at the end…

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

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…