Question
In: Economics
Consider a deposit of $200 made at the end of the year. There are another four...
Consider a deposit of $200 made at the end of the year. There are another four annual deposits growing at a rate of 6 percent. The goal is to save $2500 at the end of 7 years. What must the interest rate be?
Solutions
Rahul Sunny answered 3 years agoRelated Solutions
If you deposit $15,000 per year for 9 years (each deposit is made at the end...
If you deposit $15,000 per year for 9 years (each deposit is
made at the end of each year) in an account that pays an annual
interest rate of 9%, what will your account be worth at the end of
9 years?
Please show details and related formulas, I will give thumbs up
ASAP once I check the answer.
3) A utility deposit of $200 is required by the electric company. The deposit is made...
3)
A utility deposit of $200 is required by the electric company.
The deposit
is made on March 3, 2009 and record the general journal entry for
both
the
electric company and the customer.
A $100.00
of the deposit is used to pay the bill and the other
$100 is
refunded on November 2, 2009. Record the general journal entry for
both the electric
company and
the customer.
(check figure: 11/2/2009 entry to Accounts Receivable = $100.00
credit)
Compute the present value of a $1,000 deposit at end of year two (2) and another $2,000 deposit at the end of year five (5) if interest rates are seven (7) percent per year.
Compute the present value of a $1,000 deposit at end of year
two (2) and another $2,000 deposit at the end of year five (5) if
interest rates are seven (7) percent per year.Group of answer choicesA. $2,632.60B. $1,525.79C. $934.58D. $2,299.41E. $2,460.37
Compute the future value at the end of year five (5) of a $2,000 deposit at the end of year one (1) and another $2,000 deposit at the end of year two (2) using a seven (7) percent interest rate per year.
Compute the future value at the end of year five (5) of a
$2,000 deposit at the end of year one (1) and another $2,000
deposit at the end of year two (2) using a seven (7) percent
interest rate per year.Group of answer choicesA. $5,071.68B. $2,805.10C. $5,426.70D. $4,739.89E. $2,621.59
Joe plans to deposit $200 at the end of each month into a bank account for...
Joe plans to deposit $200 at the end of each month into a bank
account for a period of 2 years, after which he plans to deposit
$300 at the end of each month into the same account for another 3
years. If the bank pays interest at the rate of 3.5%/year
compounded monthly, how much will Joe have in his account by the
end of 5 years? (Assume that no withdrawals are made during the
5-year period.)
Calculate the future value in year 12 of a $2,000 deposit in Year 3 and another...
Calculate the future value in year 12 of a $2,000
deposit in Year 3 and another $4,000 deposit at the end of Year 5
using a 10% compound rate.
$13,406.74
$12,909.82
$12,510.77
$15,007.53
Suppose a recent college graduate's first job allows her to deposit $200 at the end of...
Suppose a recent college graduate's first job allows her to
deposit $200 at the end of each month in a savings plan that earns
9%, compounded monthly. This savings plan continues for 6 years
before new obligations make it impossible to continue. If the
accrued amount remains in the plan for the next 15 years without
deposits or withdrawals, how much money will be in the account 21
years after the plan began? (Round your answer to the nearest
cent.)
Suppose a recent college graduate's first job allows her to deposit $200 at the end of...
Suppose a recent college graduate's first job allows her to
deposit $200 at the end of each month in a savings plan that earns
12%, compounded monthly. This savings plan continues for 13 years
before new obligations make it impossible to continue. If the
accrued amount remains in the plan for the next 15 years without
deposits or withdrawals, how much money will be in the account 28
years after the plan began? (Round your answer to the nearest
cent.)...
If you deposit 100, 200, and 500 at the end of periods 2, 4, 6 respectively...
If you deposit 100, 200, and 500 at the end of periods 2, 4, 6
respectively in an account that pays 10% compounded annually during
the first two periods, 8% compounded annually in periods 3, 4, and
5, and 12% compounded annually in every period thereafter, how much
would you have in the account at the end of period 8?
Please provide solution with steps and explanation
Suppose a recent college graduate's first job allows her to deposit $200 at the end of...
Suppose a recent college graduate's first job allows her to
deposit $200 at the end of each month in a savings plan that earns
9%, compounded monthly. This savings plan continues for 11 years
before new obligations make it impossible to continue. If the
accrued amount remains in the plan for the next 15 years without
deposits or withdrawals, how much money will be in the account 26
years after the plan began? (Round your answer to the nearest
cent.)
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Baked potatoes are normally wrapped in aluminum foil. How does this affect the cooling of the...
- What is the process to obtain biomass production
- A labor market has 50,000 people in the labor force. Each month, a fraction p of...
- A road with a radius of 72 m is banked so that a car can navigate...
- 1) If you had not dried the solid, would the calculated percent yield have been higher,...
- Two structures of alanine can be drawn that have a net charge of zero, but the...
- Co(II) was used as an internal standard to analyze a sample of Ti(IV) with atomic absorption...
ADVERTISEMENT