1. Lisa Simpson wants to know how much money she would have to
deposit in an account paying 10% interest annually at age 25 in
order to have a million dollars at age 65?
2. Bart Simpson, age 8, wants to be a millionaire by the time he
is 40 by making annual deposits beginning immediately in an
investment fund paying 12% annually. How large must Bart’s annual
deposit be?
3. Homer Simpson is embezzling money from Burns Electric and...
If you deposit $10,000 in a bank account that pays 5% interest
annually, how much will be in your account after 5 years? Do not
round intermediate calculations. Round your answer to the nearest
cent.
What is the present value of a security that will pay $9,000 in
20 years if securities of equal risk pay 7% annually? Do not round
intermediate calculations. Round your answer to the nearest
cent.
Your parents will retire in 28 years. They currently have...
If you deposit $10,000 in a bank account that pays 6% interest
annually, how much will be in your account after 5 years (to two
decimal places)?
Answer to the nearest cent xxx.xx and enter without the dollar
sign.
If you deposit $10,000 in a bank account that pays 9% interest
annually, how much will be in your account after 5 years? Round
your answer to the nearest cent.
How much money does Mandy need to deposit into her investment
account today if she wishes to withdraw $80,000 a year for 20
years, starting at the end of the year? She expects to earn an
average rate of return of 10 percent. $703,287.38 $681,085.10
$904,298.28 $805,298.40
If you deposit $20,000 in a bank account paying 5.38%, how much
will you have in one year? If you need $24,000 in one year, how
much do you have to deposit today?
You plan to live very well when you retire in thirty-five years
and have calculated that you will require $3,000,000 at that time.
If the rate of interest available is 9%, how much do you need to
invest today in order to live comfortable during your...
How much would you need to deposit in an account now in
order to have $6000 in the account in 5 years? Assume the account
earns 2% interest compounded daily.
$
You decide to contribute to a mutual fund that averages 3.6%
return per year. If you contribute $225 quarterly.
Round all answers to the nearest cent as needed.
a) How much will be in the account after 15 years? $
b) How much of this money did you deposit?...
How much would you need to deposit in an account each month in
order to have $30,000 in the account in 6 years? Assume the account
earns 8% annual interest compounded monthly.
Juliana just deposited $5,000 into an account at The Compound
Bank. The bank will pay 4.5 percent interest compounded annually on
this money. How much interest on interest will
Juliana earn over the next 10 years? The interest on interest
earned is Blank 1 Use two decimals.
1. Suppose you deposit $125 into a bank, earning 2.5%
interest. How much money would you have after 1 year?
2. You expect to have $1,000 in 1 year. A bank is offering
loans at 6.4% interest per year. How much can you borrow today if
you plan to use this money to repay the loan? Round to the near
whole cent.
3. What is the discount factor that is equivalent to a 6.2%
discount rate? Round to 4 decimal...