Kate deposits P5,000 to her bank account every year when she was in high school for...

Kate deposits P5,000 to her bank account every year when she was in high school for four years to prepare for her college degree. She took an engineering course and since then, she stopped depositing to her bank account. Right after graduation (she graduated on time), she got a job that pays P250,000 a year. If she continues to deposit to the same bank account P50,000 every year for 10 years, calculate the future worth after 30 years if the deposits are made at the end of each year and the bank pays 2% interest per year

Expert Solution

samet mamat answered 2 years ago

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!!!

Candice deposits into her savings account at the end of every month. During the first year,...

Candice deposits into her savings account at the end of every month. During the first year, she deposits 10 each month. During the second year, Candice deposits 20 each month. During the third year, the deposits are 30. The pattern continues, concluding with deposits of 160 per month during the 16th year. Candice earns an annual nominal interest rate of 12% compounded monthly. How much will Candice have accumulated after 16 years?

if someone deposits $150 into a bank account that earns 15% every year and withdraw thier...

if someone deposits $150 into a bank account that earns 15% every year and withdraw thier interest every year for 2 years, how much interest do they collect in thise years? step by step how to do it

question If Susan Kalanti deposits $35,000 into her saving account at her Bank of America branch...

question If Susan Kalanti deposits $35,000 into her saving account at her Bank of America branch in Houston, TX, and you know that Bank of America can only loan 84% of that amount, then, because of this transaction, the money supply is US economy Question 7 options: increases by $21,8750 increases by $29,400 increases by $2,940,000 decreases by $29,400 Question 8 An economy experiences an economic "expansion" as long as Question 8 options: real GDP is continually increasing and there...

Consider a high school student who is given $3 every school day by her parents as...

Consider a high school student who is given $3 every school day by her parents as “lunch money”. The student works a part time job after school, earning a small amount of “spending cash”. In addition to her lunch money, the student spends $5 from her own earnings each week on lunch. Suppose her parents reduced her lunch money by $2 per day but that she simultaneously receives a $10 per week raise at her job, requiring no extra effort...

Erica has her savings in a bank account that pays 4.0% interest per year. She is...

Erica has her savings in a bank account that pays 4.0% interest per year. She is considering buying stock in a pharmaceuticals company that is developing a cure for cellulite. Her research indicates that she could earn 45% in one year if the cure is successful or lose 65% in one year if it is not. At what probability of success would the pharmaceuticals stock be the better choice? (Round your answer to two decimal places.)

Shira is a senior in high school and is struggling with her swim times. She goes...

Shira is a senior in high school and is struggling with her swim times. She goes to every practice offered, works hard, listens to her coaches, and makes the appropriate adjustments, yet she is making no improvements, meet after meet. For two years, Shira has been struggling with her times and continues to get frustrated. Before her meets, she is anxious, and after her meets, she beats herself up over her performances. Create a goal and explain how you will...

1. Drawing on her account at Comerica Bank, Jack writes a check to Jill, who deposits...

1. Drawing on her account at Comerica Bank, Jack writes a check to Jill, who deposits the check in her checking account at Chase Bank. Once the check has cleared, which of the following would have occurred to bank reserves and the M1 money supply? (More than one answer is correct) a. Bank reserves at Chase would have decreased, and bank reserves at Comerica would have increased. b. Total bank reserves would have increased; there would have been no change...

An investor deposits $1,000 into a high yield account when the market rate is 7% per...

An investor deposits $1,000 into a high yield account when the market rate is 7% per year and the inflation rate is 2% per year. The account is left undisturbed for 8 years (a) How much money will be in the account at the end of year 8? (b) What will be the purchasing power of your answer in part (a) in terms of today’s dollars? Please show work no excel thank you!

Clarissa just graduated from High school and she is starting her new job today. Her new...

Clarissa just graduated from High school and she is starting her new job today. Her new employer gave her a $15,000 signing bonus that she will invest today. She plans to retire 50 years from today (i.e., at the end of year 50). Once she retires, she would like to be able to withdraw from her retirement account $180,000 at the end of each year, starting the year after she retires (i.e., year 51). She expects that her retirement will...

Question