Question
In: Finance
You have $45,000 in an account earning an interest rate of 3%. What are the equal...
You have $45,000 in an account earning an interest rate of 3%. What are the equal beginning-of-month withdrawals you can make from this account before it is depleted in 25 years? Round to the nearest cent.
Solutions
jeff jeffy answered 2 months agoRelated Solutions
You have $25,000 in an account earning an interest rate of 6%. What are the equal...
You have $25,000 in an account earning an interest rate of 6%.
What are the equal beginning-of-month withdrawals
you can make from this account such that it is completely depleted
with the last withdrawal at the beginning of the last month in 15
years? Round to the nearest cent. [Hint: The amount in the account
today is the PV of an annuity due where the withdrawals are the
annuity cash flows. There will be a total of 15 x 12...
You have $39,000 in an account earning an interest rate of 4%. What are the equal...
You have $39,000 in an account earning an interest rate of 4%.
What are the equal beginning-of-month withdrawals you can make from
this account such that it is completely depleted with the last
withdrawal at the beginning of the last month in 22 years? Round to
the nearest cent. [Hint: The amount in the account today is the PV
of an annuity due where the withdrawals are the annuity cash flows.
There will be a total of 22 x 12...
You have $28,000 in an account earning an interest rate of 6%
You
have $28,000 in an account earning an interest rate of 6% what are
the equal beginning of month with drawls you can make from this
account such that it is completely depleted with the last
withdrawal at the beginning of the last month in 16 years round to
the nearest cent
How long will it take for $45,000 placed in a savings account earning 10% interest rate...
How long will it take for $45,000 placed in a savings account
earning 10% interest rate per year to grow into $70,000?
A. 5.64 years
B. 5.14 years
C. 4.64 years
D. 4.14 years
If you deposit $45,000 into an account earning 6% interest, compounded monthly. And in addition to...
If you deposit $45,000 into an account earning 6% interest,
compounded monthly. And in addition to the initial investment, save
$600 each month, how many months will it take to save $67,000?
Please explain with an Excel function if possible?
If an investment of $45,000 is earning an interest rate of 4.00%, compounded annually, then it...
If an investment of $45,000 is earning an interest rate of
4.00%, compounded annually, then it will take ______ for this
investment to reach a value of $53,686.18—assuming that no
additional deposits or withdrawals are made during this time. Which
of the following statements is true—assuming that no additional
deposits or withdrawals are made?
A) An investment of $50 at an annual rate of 5% will return a
higher value in five years than $25 invested at an annual rate...
You deposit $600 in an account earning 3% interest compounded annually. How much will you have...
You deposit $600 in an account earning 3% interest compounded
annually. How much will you have in the account in 15 years?
If you invest $3,130.35 in an account earning an annual interest rate of 2.33% compounded quarterly,...
If
you invest $3,130.35 in an account earning an annual interest rate
of 2.33% compounded quarterly, how much will be in your account
after 2 years? After 11 years?
You put $2,500 into an account earning interest at a rate of 8% per year. How...
You put $2,500 into an account earning interest at a rate of 8%
per year. How much money will you have after 8 years, assuming
simple interest and assuming no withdrawals? How much money will
you have assuming compound interest and no withdrawals? (4
pts.)
Suppose you have an investment that pays 8% per year,
compounded quarterly. What interest rate are you actually getting
per year? (2 pts.)
What is the present value of $2,500 received in 7 years with...
You put $2,500 into an account earning interest at a rate of 8% per year. How...
You put $2,500 into an account earning interest at a rate of 8%
per year. How much money will you have after 8 years, assuming
simple interest and assuming no withdrawals? How much money will
you have assuming compound interest and no withdrawals? (4
pts.)
Suppose you have an investment that pays 8% per year,
compounded quarterly. What interest rate are you actually getting
per year? (2 pts.)
What is the present value of $2,500 received in 7 years with...
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