Question
In: Finance
You plan to make five deposits of $1,000 each, one every 6 months, with the first...
You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 5% nominal interest, compounded semiannually, how much will be in your account after 3 years? Round your answer to the nearest cent. $ One year from today you must make a payment of $13,000. To prepare for this payment, you plan to make two equal quarterly deposits (at the end of Quarters 1 and 2) in a bank that pays 5% nominal interest compounded quarterly. How large must each of the two payments be? Round your answer to the nearest cent. $
Solutions
jeff jeffy answered 4 months agoRelated Solutions
You plan to make five deposits of $1,000 each, one every 6 months, with the first...
You plan to make five deposits of $1,000 each, one every 6
months, with the first payment being made in 6 months. You will
then make no more deposits. If the bank pays 7% nominal interest,
compounded semiannually, how much will be in your account after 3
years? Round your answer to the nearest cent. $ One year from today
you must make a payment of $9,000. To prepare for this payment, you
plan to make two equal quarterly deposits...
You plan to make monthly deposits of $1,000 into an account at the beginning of each...
You plan to make monthly deposits of $1,000
into an account at the beginning of each month for
the next 12 years. If you can earn 3.0% interest, what will your
final balance be by the end of 12 years? Round to the nearest cent.
[Hint: Beginning of period monthly cash flows!]
You plan to make monthly deposits of $1,000 into an account at the beginning of each...
You plan to make monthly deposits of $1,000 into an account at
the beginning of each month for the next 11 years. If you can earn
3.4% interest, what will your final balance be by the end of 11
years? Round to the nearest cent. [Hint: Beginning of period
monthly cash flows!]
Ten months from today, you plan to make the first of several quarterly deposits into an...
Ten months from today, you plan to make the first of several
quarterly deposits into an account paying an APR of 4% with monthly
compounding. After your first deposit, subsequent deposits will
grow by 1% each. After your final deposit three years and seven
months from today, you will simply let interest accrue on the
account. Set up the calculations needed to determine your first and
your final deposit if you want the balance in your account to equal
$100,000...
Suppose you make deposits of $410 at the end of every three months for six years...
Suppose you make deposits of $410 at the end of
every three months for six years into an account earning 2.09%2.09%
compounded quarterly. After these six years you
leave the money in the account, without making additional deposits
for another thirteen years invested at the
same interest rate of 2.09%2.09% compounded
quarterly.
How much will you have in the account after the first six
years? (Round to the nearest cent.)
N = I/Y = % P/Y = C/Y =
PV = $...
You will make deposits of $1,000 at the end of each year for 40 years in...
You will make deposits of $1,000 at the end of each year for 40
years in your investment account. After the 40th deposit, you will
immediately withdraw all money from the account to buy a retirement
annuity for 35 years with equal annual payments (paid at year-end)
from a life insurance company. If the annual rate of return over
the entire period (75 years) is 5%, how much is the annual payment
from the insurance company?
The amount of your...
You plan to invest $1,000 on the last day of every year for the next five...
You plan to invest $1,000 on the last day of every year for the
next five years, if the interest rate on the investment is 6
percent, the present value of your investment is....
You plan to make 15 deposits at the end of each year in an account that...
You plan to make 15 deposits at the end of each year in an
account that pays 6% compound interest annually. If the first
deposit is $ 1,000 and subsequently 500 are added each year to the
amount deposited the previous year (1000, 1500, ...), the amount of
the account at the end of the 15 years will be close to:
a. $71,550
b. $97,777
c. $92,242
d. $87,021
e.No correct answer is provided.
At the end of every 3 months, Judy deposits $100 into an account that pays 6%...
At the end of every 3 months, Judy deposits $100 into
an account that pays 6% compounded quarterly. After 4 years she
puts the accumulated amount into a certificate of deposit paying
7.5% compounded semi-annually for 1 year. When this certificate
matures how much will Judy have accumulated?
You plan to make annual deposits of $130 for the next 6 years, followed by annual...
You plan to make annual deposits of $130 for the next 6 years,
followed by annual deposits of $1,112 for the following 6 years.
The deposits earn interest of 4.2%. What will the account balance
be by the end of year 27? Round to the nearest cent.
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