Question
In: Finance
If a merchant deposits $ 1500 annually at the end of each fiscal year into a...
If
a merchant deposits $ 1500 annually at the end of each fiscal year
into a retirement account that pays interest at a rate of 8% per
year compounded annually, how much money will he have in his
account at the end of 25 years?
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jeff jeffy answered 2 years agoRelated Solutions
If a merchant deposits $ 1500 annually at the end of each fiscal year into a...
If a merchant deposits $ 1500 annually at the end of each fiscal
year into a retirement account that pays interest at the rate of 8%
per year compounded annually, how much money will he have in his
account at the end of 25 years?
A woman deposits $14,000 at the end of each year for 10 yearsin an investment...
A woman deposits $14,000 at the end of each year for 10 years
in an investment account with a guaranteed interest rate of 4%
compounded annually. (a) Find the value in the account at the end
of the 10 years. (b) Her sister works for an investment firm that
pays 3% compounded annually. If the woman deposits money with this
firm instead of the one in part (a), how much will she have in her
account at the end of 10 years? (c)...
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...
If a business manager deposits $60,000 in a bond fund at the end of each year...
If a business manager deposits $60,000 in a bond fund at the end
of each year for twenty years, what will be the value of her
investment:
a. At a compounded rate of 6 percent?
b. At a compounded rate of 4 percent? What would the outcome be
in each case if the deposits were made at the beginning of each
year?
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.
A 2n-year annuity has deposits of X made at the end of each of the first...
A 2n-year annuity has deposits of X made at the end of each of
the first n years and deposits of 2X made at the end of each of the
next n years. The accumulated value of this annuity at the end of
2n years is 6000. Suppose that the annual effective rate of
interest is i, where i > 0. You are given X i = 1500. Find the
present value of this annuity at time t = 0.
Jake deposits 5000 at the end of each year in an investment fund earning an annual...
Jake deposits 5000 at the end of each year in an investment fund
earning an annual effective interest rate of 11.6%. The interest
from this investment fund is paid at the end of each year into a
savings account which earns an annual effective interest rate of
2.1%.
Find Jake's combined total accumulated value at the end of 16
years.
Jake deposits 5000 at the end of each year in an investment fund earning an annual...
Jake deposits 5000 at the end of each year in an investment fund
earning an annual effective interest rate of 11.6%. The interest
from this investment fund is paid at the end of each year into a
savings account which earns an annual effective interest rate of
2.1%.
Find Jake's combined total accumulated value at the end of 16
years.
Schneider Company has a May 31 fiscal year end and adjusts accounts annually. Selected transactions in...
Schneider Company has a May 31 fiscal year end and adjusts
accounts annually. Selected transactions in the year included the
following:
Jan. 2
Sold $20,400 of merchandise to Sapounas Company, terms n/30.
The cost of the goods sold was $12,240. Schneider uses the
perpetual inventory system.
Feb. 1
Accepted a $20,400, five-month, 5% promissory note from
Sapounas Company for the balance due. (See January 2 transaction.)
Interest is payable at maturity.
15
Sold $14,400 of merchandise costing $8,640 to Garrison...
Schneider Company has a May 31 fiscal year end and adjusts accounts annually. Selected transactions in...
Schneider Company has a May 31 fiscal year end and adjusts
accounts annually. Selected transactions in the year included the
following:
Jan. 2
Sold $20,400 of merchandise to Sapounas Company, terms n/30.
The cost of the goods sold was $12,240. Schneider uses the
perpetual inventory system.
Feb. 1
Accepted a $20,400, five-month, 5% promissory note from
Sapounas Company for the balance due. (See January 2 transaction.)
Interest is payable at maturity.
15
Sold $14,400 of merchandise costing $8,640 to Garrison...
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