Homework Answers
Q1.
PV= 34000*(1/1.05)^1 + 34000*(1/1.05)^2 + 34000*(1/1.05)^3 + 34000*(1/1.05)^4 + 34000*(1/1.05)^5
PV= 32381 + 30839 + 29370 + 27972 + 26640
PV= 147203
Answer= Option 2 = 147203
Q2.
Answer= Option 4 = 37377
=1*(1.07)^10 X 19000 = 37377
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You have a savings account that earns 5% Interest, compounded annually. A friend has offered you...
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You will need at least $5,100 in four years and your friend says she can either loan you $5100 all at once four years from now or she can deposit $1275 in your savings account at the end of each year for the next four years. Your savings account earns 9% Interest, compounded annually. Which option would be worth more to you four years from now, and how much more? (Future Value of $1. Present Value of $1. Future Value...
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Show the excel formulas used Ex. 1 You have $5,000 in your savings account that pays...
Show the excel formulas used
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1] Assume you have $2,500 to invest today at 5% interest compounded annually Determine how much you will have accumulated in the account at the end of: a) 5 years b) 10 years 2] Assume instead an annuity of $2,500 (which means you will invest $2,500 per year) which will also be compounded at 5% interest annually. Determine how much you will have accumulated in the account at the end of (future value): (Note this problem is for an annuity...
On January 1, 2016, you deposited $5,700 in a savings account. The account will earn 9...
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1. If we place $7,654 in a savings account paying 7.5 percent interest compounded annually, how...
1.
If we place $7,654 in a savings account paying 7.5 percent interest
compounded annually, how much will our account accrue to in 8.5
years?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of...
You placed $5,866 in a savings account today that earns an annual interest rate of 9 percent compounded annually. How m...
You placed $5,866 in a savings account today that earns an annual interest rate of 9 percent compounded annually. How much you will have in this account at the end of 38 years? Assume that all interest received at the end of the year is reinvested the next year. Round the answer to two decimal places.
You invest $8,000 in a savings account paying 5 perc ent interest a year, compounded annually....
You invest $8,000 in a savings account paying 5 perc ent interest a year, compounded annually. At the end of four years, your account will contain approximately (A) $9,624 $10,880 $10,208 © $10,208 (D $9,728
On January 1, 2016, you deposited $6,600 in a savings account. The account will earn 10...
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You will need at least $5,100 in four years and your friend says she can either loan you $5100 all at once four years from now or she can deposit $1275 in your savings account at the end of each year for the next four years. Your savings account earns 9% Interest, compounded annually. Which option would be worth more to you four years from now, and how much more? (Future Value of $1. Present Value of $1. Future Value...
6. If $40,000 is put in a savings account paying interest of4% compounded annually, what amount will be in the account at the end of 5 years? A) $48,666 B) $32,878 C) $48,000 D) $48,620 7. Suzy Douglas has been offered the opportunity of investing $73,540 now. The investment will earn 8% How many years must Suzy wait to receive the $200,000? A) 13 B) 10 C) 11 D) 12 per year and at the end of its life will...
Show the excel formulas used
Ex. 1 You have $5,000 in your savings account that pays 4% interest. How much will you have in your account after 20 years, a) if your bank pays annually compounded interest? b) if your bank pays monthly compounded interest? c) if your bank pays daily compounded interest? Current balance Interest Years Compounding Annually Monthly Daily a) FV b) FV c) FV Ex. 2 If you need $10,000 in 7 years and you can earn...
1] Assume you have $2,500 to invest today at 5% interest compounded annually Determine how much you will have accumulated in the account at the end of: a) 5 years b) 10 years 2] Assume instead an annuity of $2,500 (which means you will invest $2,500 per year) which will also be compounded at 5% interest annually. Determine how much you will have accumulated in the account at the end of (future value): (Note this problem is for an annuity...
On January 1, 2016, you deposited $5,700 in a savings account. The account will earn 9 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 3 years? (Future Value of $1. Present Value of $1. Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answers...
1.
If we place $7,654 in a savings account paying 7.5 percent interest
compounded annually, how much will our account accrue to in 8.5
years?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of...
You placed $5,866 in a savings account today that earns an annual interest rate of 9 percent compounded annually. How much you will have in this account at the end of 38 years? Assume that all interest received at the end of the year is reinvested the next year. Round the answer to two decimal places.
You invest $8,000 in a savings account paying 5 perc ent interest a year, compounded annually. At the end of four years, your account will contain approximately (A) $9,624 $10,880 $10,208 © $10,208 (D $9,728
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