Q4. You are saving for a new house and you put S10,000 per year in an account paying 8%. The first payment is made today. How much will you have at the end of 3 years? A) S66.326 B) S65.593 C) $63.452 D) S63.359
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A: Computation of quarterly deposit:Hence, the quarterly deposit is $921.76.
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A: We will make use of the excel function NPER to get this answer. This function returns the number of…
Q: 1. A man borrows P2,500 for 2 years at 8 %4%. How much and what will be the amount at the end of the…
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A: In this we have to calculate the present value FACTOR monthly and get monthly payments.
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A: Comment; We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: How much do you need to invest today, at 0.5% interest per year, in order to have $75,000 in 15…
A: Future value (FV) = $ 75000 Interest rate (r) = 0.5% Period (n) = 15 Years
Q: 1. (a) A bank account pays 5.5% annual interest, compounded monthly. How long will it take the money…
A: We use NPER to find time and Rate function to find APR
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A: The worth of money in future is calculated using the following formula:
Q: how many years your money will be doubled?
A: answer :- c) n= 6.12 years given present value PV= 10000 rate r=12% future value FV = 2*10000 =…
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A: Future value is the value of an asset or a current asset at a future date based on an assumed rate…
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A: The formula used as follows: Present value=Future value1+innt
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A: A stream of equal cash flows (CF) paid or received periodically is termed as annuity. Annuity is…
Q: how much money should you deposit now into a bank account paying 6% compounded quarterly?
A: The amount currently deposited in order to accumulate a specified future total is represented by the…
Q: You are saving money for a down payment on a new house. You intend to place $5,000 at the end of…
A: Solution:- When an equal amount is saved each period at end of period, it is called ordinary…
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A: A concept through which it is studied that the current worth of money is higher than its future…
Q: 1.Your parents will retire in 21 years. They currently have $210,000 saved, and they think they will…
A: "Since this question contains multiple parts, we will answer only the first part for you. Kindly…
Q: You are saving for a new house and you put $10,000 per year in an account paying 8%. The first…
A: Annual deposit (D) = $10,000 Interest rate (r) = 8% Number of deposits (n) = 3
Q: You want to be able to withdraw $45,000 each year for 25 years. Your account earns 6% interest. a)…
A: Given: Withdraw amount =$45000Interest rate annually =6%Time=25 years
Q: Suppose you borrowed $15,000 at a rate of 10% and must repay it in 5 equal payments at the end of…
A: Annual worth distributes present worth into equivalent uniform value over its useful life.
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A: Introduction: A recommendation of a certain amount of money for savings purposes, upon retirement by…
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A: given, fv= $15000 r=3.2% n=5 years
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A: Given information: Amount needed to borrow : $213,000 Time Period of loan : 30 years Annual…
Q: 2. You deposit P25,000 annually for 6 years on an investment that has a rate of return of 5.2% per…
A: Future Value: The future value is the amount that will be received at the end of a certain period.…
Q: What is the amount you would have to deposit today to be able to take out $2070 a year for 2 years…
A: As per Bartleby Honor Code, when multiple questions are asked, the expert is required only to solve…
Q: suppose you are planning to buy a home in 8 years from now that costs you 47114 OMR, How much should…
A: Following is the answer to the given question
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Q: Suppose you invest $5 per week into an account that earns 2.5% compounded weekly. You make the…
A: Time value concept states that a dollar today is worth more than anytime in the uture, as the dollar…
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A: Computation:
Q: 2. How much earned in 4 years on Php 12,000 deposited in an account paying 4% compounded…
A: Note: It is a case where the number of questions asked is more than one and no specified question is…
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A: Using excel PV function
Q: 1. Gabby is paying P 1,000 monthly for the payment of his loan for 2 years now. At the moment, he…
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A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…
Q: Suppose you invest $25 per week into an account that earns 2% compounded weekly. You make the…
A:
Q: YOU ARE SAVING FOR A NEW HOUSE AND YOU PUT $1,000 PER YEAR IN AN ACCOUNT PAYING 25% COMPOUNDED…
A: Annual deposit = $1,000 Interest rate = 0.25 (i.e. 25%) Period = 3 years Amount we will have at the…
Q: How much money should be invested in an account that earns 9.5% interest, compounded monthly, in…
A: It can be calculated using following formula PV = FV / (1 + r / n)nt Where, PV = Present value FV =…
Q: 4. You plan to deposit P2, 500 in the bank now and another P2, 500 after 2 years. After four years…
A: Deposit in year n = Dn Withdrawal in year n = Wn D0 = P 2500 D2 = P 2500 W6 = P 6500 We need to find…
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A: Given information: Purchase price = $33,000 Loan = $33,000 -20%×$33,000 = $26,400 Term = 5 years…
Step by step
Solved in 2 steps
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?
- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?1. What is the amount you would have to deposit today to be able to take out $2070 a year for 2 years from an account earning 14 percent. 2. If you desire to have $38300 for a down payment for a house in 11 years, what amount would you need to deposit today? Assume that your money will earn 4 percent.
- suppose you are planning to buy a home in 8 years from now that costs you 47114 OMR, How much should you save each year in your bank account that pays 6.012 percent to reach your goal?YOU ARE SAVING FOR A NEW HOUSE AND YOU PUT $1,000 PER YEAR IN AN ACCOUNT PAYING 25% COMPOUNDED ANNUALLY. THE FIRST PAYMENT IS MADE TODAY. HOW MUCH WILL YOU HAVE AT THE END OF 3 YEARS? Select one: a. 4761.625 b. 4766.625 c. 3025 d. 4765.63Today you are opening a savings account and depositing an initial $5,000 into it. You plan to deposit $6,500 into the account two years from today and deposit another $8,000 four years from today. How much will you have in your account five years from today if you earn an 11 percent rate of return? A) $25,314.60 B) $26,194.89 C) $32,858.63 D) $29,602.37 (Please try to explain by using a Financial Calculator)
- you want to have $15,000 at the end of 5 years. if you can earn a return of 3.2% annually, how much do you need to put into the account now? $12,814.24 12,600 2,906.98 14,5204. You wish to purchase a house that costs $294,000, and the bank requires you to have 12% of the purchase price as a down payment. Your annual salary is $44,000 and you can save 18% of this salary every year. How long will it take for you to save for the required down payment? about _____ years?Suppose you want to accumulate $20,000 for a down payment on a house in 5 years. How much must you deposit today into an account with an APR of 5% compounded monthly in order to have $20,000 in 5 years? PV = PMT= FV = APR = Periods = Compounding: