Homework Answers
Since it is a recurring Deposit type in which every year the Amount is deposited and cumulative interest earned, Hence it is a type of future value concept sum and we can solve it by using the excel formula i.e. FV function
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Suppose that for the last 19 years, you've made yearly deposits of $1525 into a savings...
Suppose that the parents of a young child decide to make annual deposits into a savings...
Suppose that the parents of a young child decide to make annual deposits into a savings account, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 15th birthday. Then, starting on the child's 18th birthday, the withdrawals as shown will be made. If the effective annual interest rate is 4% this period of time, what are the annual deposits (A) in years 5 through 15? Please round your answer to...
please show the work Susan made 5 uniform annual deposits of $5000 in a savings account...
please show the work
Susan made 5 uniform annual deposits of $5000 in a savings account that earned an interest rate of 15% per year. Her last deposit was made 3 years ago. What is the future value of her savings 15 years from now, if she leaves the account untouched? Round your answer to the nearest whole number. Do not use commas in your answer. $
Suppose that the parents of a young child decide to make annual deposits into a savings...
Suppose that the parents of a young child decide to make annual deposits into a savings account, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 15th birthday. Then, starting on the child's 18th birthday, the withdrawals as shown on the diagram below will be made. If the effective annual interest rate is 6% during this period of time, what are the annual deposits in years 5 through 15? Use...
Question (3) Mary made five annual deposits of $6,000 in a savings account that pays interest...
Question (3) Mary made five annual deposits of $6,000 in a savings account that pays interest at a rate of 6% per year. One year after making the last deposit, the interest rate changed to 10% per year. Five years after the last deposit, how much accumulated money can she withdraw from the account?
Pete Frost made a deposit into his savings account 3 years ago and earned interest at...
Pete Frost made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $20,500. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? terly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) Annually (b) Semiannually (c) Quarterly
Juan has a goal of saving up $54555 by making biweekly (26 per year) deposits into...
Juan has a goal of saving up $54555 by making biweekly (26 per year) deposits into a savings account for the next 10 years. If the account has an annual interest rate of 1%, how much should each of his deposits be? Round your answer to the nearest dollar.
Sherry has a goal of retiring with $266676 by making weekly deposits into an investment account...
Sherry has a goal of retiring with $266676 by making weekly deposits into an investment account whose annual interest rate is 1%. If she will retire in 22 years, how much interest will she earn? Round your answer to the nearest dollar.
Sherry has a goal of retiring with $266676 by making weekly deposits into an investment account...
Sherry has a goal of retiring with $266676 by making weekly deposits into an investment account whose annual interest rate is 1%. If she will retire in 22 years, how much interest will she earn? Round your answer to the nearest dollar.
Suppose a savings and loan pays a nominal rate of 3.2% on savings deposits. Find the...
Suppose a savings and loan pays a nominal rate of 3.2% on savings deposits. Find the effective annual yield if interest is compounded annually.
Suppose that the parents of a young child decide to make annual deposits into a savings account, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 15th birthday. Then, starting on the child's 18th birthday, the withdrawals as shown will be made. If the effective annual interest rate is 4% this period of time, what are the annual deposits (A) in years 5 through 15? Please round your answer to...
please show the work
Susan made 5 uniform annual deposits of $5000 in a savings account that earned an interest rate of 15% per year. Her last deposit was made 3 years ago. What is the future value of her savings 15 years from now, if she leaves the account untouched? Round your answer to the nearest whole number. Do not use commas in your answer. $
Suppose that the parents of a young child decide to make annual deposits into a savings account, with the first deposit being made on the child's fifth birthday and the last deposit being made on the 15th birthday. Then, starting on the child's 18th birthday, the withdrawals as shown on the diagram below will be made. If the effective annual interest rate is 6% during this period of time, what are the annual deposits in years 5 through 15? Use...
Pete Frost made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $20,500. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? terly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) Annually (b) Semiannually (c) Quarterly
Juan has a goal of saving up $54555 by making biweekly (26 per year) deposits into a savings account for the next 10 years. If the account has an annual interest rate of 1%, how much should each of his deposits be? Round your answer to the nearest dollar.
Sherry has a goal of retiring with $266676 by making weekly deposits into an investment account whose annual interest rate is 1%. If she will retire in 22 years, how much interest will she earn? Round your answer to the nearest dollar.
Sherry has a goal of retiring with $266676 by making weekly deposits into an investment account whose annual interest rate is 1%. If she will retire in 22 years, how much interest will she earn? Round your answer to the nearest dollar.
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