Your client will make twenty quarterly deposits of $5,000 into her retirement account earning 7.3% APR...

Your client will make twenty quarterly deposits of $5,000 into her retirement account earning 7.3% APR compounded daily. If the first deposit is made one quarter from today, how much will be in the account when the last deposited is made?

Expert Solution

jeff jeffy answered 1 year ago

If you make 20 quarterly deposits of $1,000 beginning today and are earning 6% APR (compounded...

If you make 20 quarterly deposits of $1,000 beginning today and are earning 6% APR (compounded monthly), how much will the account be worth 20 quarters from today?

Jamie deposits $10,000 in an account earning 3% interest, compounded quarterly. How much will the account...

Jamie deposits $10,000 in an account earning 3% interest, compounded quarterly. How much will the account balance be in 10 years? $13,483.48 $22,879.28 $12,327.12 $14,724.14

You make deposits at the end of each month into an account earning interest at a...

You make deposits at the end of each month into an account earning interest at a rate of 6%/year compounded monthly. Your deposits will be $2000/month in the first year, $2200/month in the second year, $2420/month in the third year, $2662 in the fourth year, and so on. How much will be in your account at the end of 40 years? No Excel answers please.

Laquita deposits $5500 in her retirement account every year. If her account pays an average 6%...

Laquita deposits $5500 in her retirement account every year. If her account pays an average 6% interest and she makes 38 deposits before she retires, how much monet can she withdraw in 20 equal payments beginning one year after her last deposit? please show cash flow diagram and solve NOT with excel but with the interest rate formula equations!!!

A company is planning to make equal quarterly deposits into a bank account. They want their...

A company is planning to make equal quarterly deposits into a bank account. They want their account to have 1.5 million dollars after 5 years from now because they want to buy a certain machine. Note that the first quarterly deposit is made today and the last deposit is made at the end of year 5. A) If the bank’s interest rate is 14% per year compounded monthly, how much should the company deposit each quarter? (12.5 points) B) If...

If you need $5,000 in four years from today and you can make quarterly deposits of...

If you need $5,000 in four years from today and you can make quarterly deposits of $370 in your money market account, what is the APR you are looking for? If you need $5,000 in four years from today and you can make quarterly deposits of $370 in your money market account, what is the APR you are looking for? You will make the following investments for a boat: $2,500 today, $3,000 at the end of year three, and $1800...

You are planning to make monthly deposits of $120 into a retirement account that pays 9...

You are planning to make monthly deposits of $120 into a retirement account that pays 9 percent annual interest (APR), compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 19 years? rev: 09_17_2012 Multiple Choice $71,900.73 $75,495.77 $66,266.58 $68,305.69 $862,808.76

You are planning to make monthly deposits of $170 into a retirement account that pays 8...

You are planning to make monthly deposits of $170 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 21 years?

You are planning to make monthly deposits of $70 into a retirement account that pays 14...

You are planning to make monthly deposits of $70 into a retirement account that pays 14 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 22 years? $128,355.75, $1,466,922.82, $116,131.39, $122,243.57, $101,166.24

Consider the following scenario: You plan to make quarterly deposits into a savings account that earns...

Consider the following scenario: You plan to make quarterly deposits into a savings account that earns 10% interest compounded continuously. You plan to make the first deposit of $500 at the end of the first quarter and increase the deposit by $100 each subsequent quarter. Which of the following best represents the future value of this scenario at the end of the 7th year?

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