If you invest $1,000 today into a deposit account earning 5.75% interest compounded monthly, how much...

If you invest $1,000 today into a deposit account earning 5.75% interest compounded monthly, how much would your investment be worth in 10 years?

Expert Solution

	A/c balance after 10 years	PV×(1+r)^n

	Here,

1	Interest rate per annum	5.75%
2	Number of years	10
3	Number of compoundings per per annum	12
1÷3	Interest rate per period ( r)	0.48%
2×3	Number of periods (n)	120
	Present value (PV)	$ 1,000

	A/c balance after 10 years	$ 1,774.69
		1000*(1+0.48%)^120

jeff jeffy answered 3 years ago

If you invest $5,000 today into a deposit account earning 6.25% interest compounded monthly, how much...

If you invest $5,000 today into a deposit account earning 6.25% interest compounded monthly, how much would your investment be worth in 5 years?

Problem 1.1 You deposit $1,000 in a bank account earning 5.75% annual compound interest. How much...

Problem 1.1 You deposit $1,000 in a bank account earning 5.75% annual compound interest. How much will you have in 3 years? Problem 1.2 You deposit $1,000 in a bank account earning 5.75% annual compound interest. How many years will it take to double your money? Problem 1.3 Your bank account is earning 5.75% annual compound interest. How much money do you have to deposit now in order to have $1,000 in 5 years? Problem 1.4 Bernie Madoff invites you...

1. You deposit $2000 in an account earning 8% interest compounded monthly. How much will you...

1. You deposit $2000 in an account earning 8% interest compounded monthly. How much will you have in the account in 15 years? 2. Find the time required for an investment of 5000 dollars to grow to 9000 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places ___t years. 3. You deposit $3000 in an account earning 5% interest compounded monthly. How much will you have in the account in...

1. You deposit $4000 in an account earning 5% interest compounded monthly. How much will you...

1. You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 years? 2. Find the time required for an investment of 5000 dollars to grow to 6500 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places Your answer is t=____ years. 3. You deposit $2000 in an account earning 5% interest compounded monthly. How much will you have in...

you deposit 400$ each month into an account earning 2% interest compounded monthly. a) how much...

you deposit 400$ each month into an account earning 2% interest compounded monthly. a) how much will you have in the account in 35 years? b) how much money will you put into the account? c) how much total interest will you earn?

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?

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?

You deposit $3000 each year into an account earning 3% interest compounded annually. How much will...

You deposit $3000 each year into an account earning 3% interest compounded annually. How much will you have in the account in 25 years? $

1. You deposit $3000 each year into an account earning 7% interest compounded annually. How much...

1. You deposit $3000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 25 years? 2. Suppose you want to have $600,000 for retirement in 25 years. Your account earns 7% interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn? 3. You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able...

you deposit $500 today in a savings account that pays 6% interest, compounded annually. How much...

you deposit $500 today in a savings account that pays 6% interest, compounded annually. How much will your account be worth at the end of 40 years?

Question