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What is the amount of the quarterly deposits A such that you will be able...
Problem 3-19 (algorithmic) Question What is the amount of the quarterly deposits A such that you...
Problem 3-19 (algorithmic) Question What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts shown in the cash flow diagram if the interest rate is 8% compounded quarterly? $2,400 8% Compounded quarterly $1,700 1 Quarters 1 2 3 4 5 6 7 0 8 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 А (Deposit) The amount...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
John Riviera deposits $14,000 in National Bank at 8% compounded quarterly. What is the effective rate...
John Riviera deposits $14,000 in National Bank at 8% compounded quarterly. What is the effective rate (APY) of interest? (round answer to the nearest hundredth)
2b (12 pts) An engineer deposits $1,000 per month from at a rate of 24% per...
2b (12 pts) An engineer deposits $1,000 per month from at a rate of 24% per year, compounded semiannually for years. Six years after the last deposit, how much will he be able to withdraw? HINT: Draw the cash flow diagram in the negative direction
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn)....
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn). If deposits of $10,000 are made each year into an account paying 8% compounded annually, how much will be in the account after 23 years? What will be the total amount of interest earned? The amount in the account after 2 years is $ (round to the nearest cent, as needed). The amount of interest earned is s (round to the nearest cent, as...
73) You make 6 quarterly deposits starting at $135 and increasing at a constant rate of...
73) You make 6 quarterly deposits starting at $135 and increasing at a constant rate of 4.5%. Th interest rate is 8.4% compounded quarterly. What is the size of the last deposit? 74) You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. The interest rate is 5.12% compounded annually. How much has been deposited in total?
You have discovered an investment opportunity that earns an) 3% rate of interest compounded quarterly. Which...
You have discovered an investment opportunity that earns an) 3% rate of interest compounded quarterly. Which of the following amounts is approximately equal to the amount you should deposit today to have $8,000 in five years? Use the formula method. (Do not round any intermediary calculations, and round your final answer to the nearest dollar.) Which of the following statements is true? O A. The higher the discount rate, the higher the present value. OB. If interest is 4% compounded...
A person wants to establish an annuity for retirement. He wants to make quarterly deposits for...
A person wants to establish an annuity for retirement. He wants
to make quarterly deposits for
years so that he can then make quarterly withdraws of
for
years. The annuity earns
% compounded quarterly.
(a) How much will have to be in the account at the time he
retires?
Value of account at retirement:
[Note: Your answer is a dollar amount and should have a dollar sign
and exactly two decimal places.]
(b) How much should be deposited each quarter...
help please For the transactions shown below, determine the amount of money in the account at...
help please
For the transactions shown below, determine the amount of money in the account at the end of year 2 if the interest rate is 12% per year, compounded quarterly. Assume no interperiod compounding. Draw Cash Flow Diagram End of Quarter Amount of Deposit, $/Month Amount of Withdrawal S/Month 0 1000 1 950 600 2-5 1150 13 1000 2500 21 1100 24 1200
Assume that you want to deposit an amount (P) Assume that you want to deposit an...
Assume that you want to deposit an amount (P) Assume that you want to deposit an amount (P) into an account two years from now in order to be able to into an account two years from now in order to be able to withdraw $400 per year for five years starting three years withdraw $400 per year for five years starting three years from now. Assume that the interest rate is 5.5% per year. from now. Assume that the...
Problem 3-19 (algorithmic) Question What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts shown in the cash flow diagram if the interest rate is 8% compounded quarterly? $2,400 8% Compounded quarterly $1,700 1 Quarters 1 2 3 4 5 6 7 0 8 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 А (Deposit) The amount...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
2b (12 pts) An engineer deposits $1,000 per month from at a rate of 24% per year, compounded semiannually for years. Six years after the last deposit, how much will he be able to withdraw? HINT: Draw the cash flow diagram in the negative direction
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn). If deposits of $10,000 are made each year into an account paying 8% compounded annually, how much will be in the account after 23 years? What will be the total amount of interest earned? The amount in the account after 2 years is $ (round to the nearest cent, as needed). The amount of interest earned is s (round to the nearest cent, as...
73) You make 6 quarterly deposits starting at $135 and increasing at a constant rate of 4.5%. Th interest rate is 8.4% compounded quarterly. What is the size of the last deposit? 74) You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. The interest rate is 5.12% compounded annually. How much has been deposited in total?
You have discovered an investment opportunity that earns an) 3% rate of interest compounded quarterly. Which of the following amounts is approximately equal to the amount you should deposit today to have $8,000 in five years? Use the formula method. (Do not round any intermediary calculations, and round your final answer to the nearest dollar.) Which of the following statements is true? O A. The higher the discount rate, the higher the present value. OB. If interest is 4% compounded...
A person wants to establish an annuity for retirement. He wants
to make quarterly deposits for
years so that he can then make quarterly withdraws of
for
years. The annuity earns
% compounded quarterly.
(a) How much will have to be in the account at the time he
retires?
Value of account at retirement:
[Note: Your answer is a dollar amount and should have a dollar sign
and exactly two decimal places.]
(b) How much should be deposited each quarter...
help please
For the transactions shown below, determine the amount of money in the account at the end of year 2 if the interest rate is 12% per year, compounded quarterly. Assume no interperiod compounding. Draw Cash Flow Diagram End of Quarter Amount of Deposit, $/Month Amount of Withdrawal S/Month 0 1000 1 950 600 2-5 1150 13 1000 2500 21 1100 24 1200
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Please solve with excel and mention the excel function.
Thanks
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