If $675 is deposited every 6 months for the next 5 years. The account pays 12%...

If $675 is deposited every 6 months for the next 5 years. The account pays 12% per year compounded quarterly. Determine the equivalent future worth at the end of the period?

Solutions

Expert Solution

Solution is in the below pic.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

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?

Someone deposits $200 every 6 months into an account that pays interest at 4% per year...

Someone deposits $200 every 6 months into an account that pays interest at 4% per year compounded quarterly. How much does this person have after 10 years?

A 5% semiannual coupon bond with $1,000 par pays $50 every 6 months. Group of answer...

A 5% semiannual coupon bond with $1,000 par pays $50 every 6 months. Group of answer choices True False

Lionel deposited $1,500 at the end of every month into an RRSP for 6 years. The...

Lionel deposited $1,500 at the end of every month into an RRSP for 6 years. The interest rate earned was 3.75% compounded semi-annually for the first 3 years and changed to 4.00% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 6 years? Round to the nearest cent

$1200 is deposited into a saving account that pays 6% effective montly interest rate what is...

$1200 is deposited into a saving account that pays 6% effective montly interest rate what is the amount of interest earned in the final quarter of the 8th year?

Biff deposited $9,000 in a bank account, and 12 years later he closes out the account,...

Biff deposited $9,000 in a bank account, and 12 years later he closes out the account, which is worth $18,000. What annual rate of interest has he earned over the 12 years? I'm unsure how to input the problem in excel. I believe I have to 18000/9000 but if I need to find the rate, and n=12 I'm unsure what to input for FV and PV

1. Consider a contract that pays out $190 in 6 months, $131 in 12 months, $80...

1. Consider a contract that pays out $190 in 6 months, $131 in 12 months, $80 in 18 months, $50 in 2 years. What is this contract's Macaulay duration (in years)? Assume this contract is currently trading at a yield of 5%. 2. Consider an annuity contract that pays out $47 at the end of each of the next four 6-month intervals (payments are to be made 6, 12, 18, and 24 months from today). What is this annuity's Macaulay...

A prize pays $16,000 each quarter for 5 years (20 payments)commencing in exactly 6 months’ time....

A prize pays $16,000 each quarter for 5 years (20 payments)commencing in exactly 6 months’ time. If the appropriate discount rate is 5.9% p.a compounding quarterly, the value of the prize today is (round to nearest cent; don’t use $ sign or commas): [HINT: the annuity is deferred] Select one: a. $63816.40 b. $275376.40 c. $271373.64 d. $4210853.69.

An amount of $10,000 is deposited into a savings account that pays interest at a rate...

An amount of $10,000 is deposited into a savings account that pays interest at a rate of 7%. If 10 equal annual withdrawals are made from the account starting one year after the money was deposited, how much can be withdrawn so that in the fifth year one would be able to withdraw an additional $1,000 and the account would be depleted after 10 years? Explain verbally in detail and sketch a timeline to illustrate.

if $175 is deposited at the end of each year in a saving account that pays...

if $175 is deposited at the end of each year in a saving account that pays 6% interest per year , approximately how much money will be in the account at the end of 10 years

Subjects