Question
In: Finance
Emily deposits $150 at the beginning of each quarter into an account earning 6.7% for 25...
Emily deposits $150 at the beginning of each quarter into an account earning 6.7% for 25 years. How much money will she have at the end of those 25 years?
Solutions
Expert Solution
this can be calculated by using excel.
the answer and the calculations are given as follows
At the end of 25th year the account will be having a balance of $29092.31
the calculations in the excel are given follows
the cell G1 refers to where the interest rate is entered. it has a $ sign because it should be constant all the time
jeff jeffy answered 1 year agoRelated Solutions
Bob deposits $1,500 at the beginning of each quarter for sixteen years in a fund earning...
Bob deposits $1,500 at the beginning of each quarter for sixteen
years in a fund earning a nominal rate of interest of 6%
convertible monthly. The interest from this fund is paid out
monthly and can only be reinvested at an effective annual rate of
5.2%. Find Bob’s yield rate for the twenty-year period.
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.
Bob deposits $11000 at the beginning of each year for six years in a fund earning...
Bob deposits $11000 at the beginning of each year for six years
in a fund earning an effective annual rate of 6.7%. The interest
from this fund can only be reinvested at an effective annual rate
of 2.1%. Find the accumulated value of Bob’s investment at the end
of thirteen years. Round your answer to the nearest cent.
Quarterly deposits are made into a fund at the beginning of each quarter starting today for...
Quarterly deposits are made into a fund at the beginning of each
quarter starting today for 5 years. The first 8 deposits are $1000
each and deposits increase by 1% per quarter thereafter. If the
fund earns 8% effective annually, find the accumulated value at the
end of 5 years.
Please explain which equations you used and do not use
excel.
Suppose a young couple deposits $600 at the end of each quarter in an account that...
Suppose a young couple deposits $600 at the end of each quarter
in an account that earns 6.8%, compounded quarterly, for a period
of 2 years. After the 2 years, they start a family and find they
can contribute only $200 per quarter. If they leave the money from
the first 2 years in the account and continue to contribute $200 at
the end of each quarter for the next 18 1/2 years, how much will
they have in the...
3. Jose deposits $150 at the end of each month into an account that pays 6%...
3. Jose deposits $150 at the end of each
month into an account that pays 6%
interest compounded monthly . After 8
years of deposits, what is the account
balance?
You plan to make monthly deposits of $1,000 into an account at the beginning of each...
You plan to make monthly deposits of $1,000
into an account at the beginning of each month for
the next 12 years. If you can earn 3.0% interest, what will your
final balance be by the end of 12 years? Round to the nearest cent.
[Hint: Beginning of period monthly cash flows!]
You plan to make monthly deposits of $1,000 into an account at the beginning of each...
You plan to make monthly deposits of $1,000 into an account at
the beginning of each month for the next 11 years. If you can earn
3.4% interest, what will your final balance be by the end of 11
years? Round to the nearest cent. [Hint: Beginning of period
monthly cash flows!]
You decide to place $200 at the beginning of each month in an investment account earning...
You decide to place $200 at the beginning of each month in an
investment account earning interest at 4.33% annually (4.33% / 12
monthly). You plan on following this practice for five years (60
months). How much will you have accumulated in the account at the
end of the five-year period?
An investor invests $50 an account that returns 5% annually (5%
/ 12 per month). How much is the investor’s account worth at the
end of the five-year period?...
Nataya makes monthly deposits into Fund A at the beginning of each month for 25 years....
Nataya makes monthly deposits into Fund A at the beginning of
each month for 25 years. Her first deposit is
$40, and each subsequent deposit increases by $10. Aarif
contributes $250,000 once, today, into Fund B. The
nominal rate that both of these funds earn is 6% per year. However,
Fund A compounds interest monthly
and Fund B compounds interest quarterly. What is the difference in
the balance between these two funds at
the end of 25 years?
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- JAVASCRIPT: Please create an array of student names and another array of student grades. - Create...
- Topic - Construction: Structural, loads, tension 1.) Explain why pure tension members are the most efficient...
- Procter and Gamble (PG) paid an annual dividend of $ 1.62$1.62 in 2009. You expect PG...
- locate a recent case of online child pornography. Write a summary of the incident and describe...
- #Python 5. Write function called evaluate() that evaluates the following Python expressions or assignments as specified:...
- Suggest journal, research paper link reference. i need this as reference for writing a research with...
- Cryptography is used heavily in internet communications. True or false? Explain
ADVERTISEMENT