Suppose you deposit $750 per month in a mutual fund that is expected to bear 13.5% interest compounded monthly. If you do this faithfully, how much will your account be worth after 23 years? Round your answer to the nearest whole number.
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Suppose you deposit $750 per month in a mutual fund that is expected to bear 13.5% interest compounded monthly. If you do this faithfully, how much will your account be worth after 23 years? Round your answer to the nearest whole number.
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- 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.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?Suppose you deposit $650 per month in a mutual fund that is expected to bear 10% interest compounded monthly. If you do this faithfully, how much will your account be worth after 29 years? Round your answer to the nearest whole number.
- Assume that investing $500 in a fund today will give you a return of $530 a year later. On the other hand, your bank can give you a rate of interest of 7.5% compounded annually. Will you choose to invest in the fund?Suppose an investment will pay $21,000 in 29 years from now. If you can earn 11.35% interest compounded monthly by depositing your money in a bank, how much should you pay for the investment today?Suppose you invest $500 in a mutual fund today and $600 in one year. If the fund pays 8% annually and you make no further deposits, how much will you have in five years? Respuesta:
- Suppose that you place $1,000 in a bank account each year for the next 20 years. How much would be in your bank account at the end of the twentieth year if the deposits earned an annual rate of return of 4% each year?Answer:$29,778.0786 will be in the account after 20 years. Question: Repeat above question for annuity due.suppose you have $5,000 in a mutual fund in your IRA. Suppose also that you put $4,000 into the mutual fund at the end of each year over the next 20 years. if the mutual fund earns 8.5% annually, how much will it be worth after 20 years?Suppose your client wishes to purchase an annuity that pays $80,000 each year for 6 years, with the first payment 4 years from now. At an interest rate of 8%, how much would the client need to invest now? Please round your answer to the nearest hundredth.
- Suppose an investment will pay $21,000 in 19 years from now. If you can earn 16.35% interest compounded monthly by depositing your money in a bank, how much should you pay for the investment today?Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72.You can invest in a mutual fund that generates 9% return per year. If you want to have $700,000 in your account 10 years from now, how much would you have to deposit, at the end of each year, for the next 10 years?Suppose an investment will pay $25,000 in 39 years from now. If you can earn 11.05% interest compounded monthly by depositing your money in a bank, how much should you pay for the investment today? Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72.