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?

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jeff jeffy answered 1 year 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!!!

You open a savings account that pays 1.2% and make 15 end-of-year deposits. Your first deposit...

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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...

A person deposits $100 per month into a savings account for 2 years. If $75 is...

A person deposits $100 per month into a savings account for 2 years. If $75 is withdrawn in months 5, 7 and 8 (in addition to the deposits), construct the cash flow diagram to determine how much will be in the account after 2 years at i = 6% per year, compounded quarterly. Assume there is interperiod interest

Since your first birthday, your grandparents have been depositing $100 into a savings account every month....

Since your first birthday, your grandparents have been depositing $100 into a savings account every month. The account pays 9% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to ________. Select one: $32,181 $64,362 $53,635 $75,089

You deposit $1000 per month every month into an investment account for 40 years. The deposits...

You deposit $1000 per month every month into an investment account for 40 years. The deposits are made at the end of each month . The first deposit is made at the end of the first month. If the return 6 percent compounded monthly for the first 10 years, and 9 percent compounded monthly thereafter, how much will you have in the account in year 40?

You make deposits of $400 at the beginning of every month, into an account paying 8%...

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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.

At the end of every 3 months, Judy deposits $100 into an account that pays 6%...

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3. If you decide to do your deposits at the end of every month (similarly to...

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