Question

Derek will deposit $4,994.00 per year for 14.00 years into an account that earns 9.00%. Assuming the first deposit is made 4.00 years from today, how much will be in the account 37.00 years from today?

Derek will deposit $1,707.00 per year for 30.00 years into an account that earns 15.00%, The first deposit is made next year. How much will be in the account 36.00 years from today?

Derek will deposit $1,717.00 per year for 10.00 years into an account that earns 14.00%. The first deposit is made today. How much will be in the account 10.0 years from today?

Answer 1

Deposits Future value factor at 996 Future value of deposits -B2 C2 -B3 C3 -B4 C4 1Years (1+0.09)A(37-A2) (1+0.09)A(37-A3) (1+0.09)A(37-A4) (1+0.09)A(37-A5) 4 6 5 4994 (1+0.09)A(37-A6) 7 6 4994 (1+0.09)A(37-A7) 8 7 49941+0.09)A(37-A8) 9 8 4994 1+0.09)A(37-A9) -B6 C6 -B7 C7 9 10 4994 1+0.09) (37-A10) 11 10 4994 1+0.09) (37-A11) 12 11 4994 1+0.09) (37-A12) 13 12 4994 1+0.09)37-A13) 14 13 4994 1+0.09)37-A14) 15 14 4994 1+0.09)(37-A15) 16 15 4994 1+0.09)437-A16) 17 16 4994 1+0.09)437-A17) 18 17 4994 (1+0.09)(37-A18) 19 18 4994 (1+0.09)(37-A19) (1+0.09)M(37-A20) (1+0.09)(37-A21) (1+0.09)(37-A22) (1+0.09)(37-A23) (1+0.09)(37-A24) (1+0.09)(37-A25) (1+0.09)(37-A26) (1+0.09)A(37-A27) (1+0.09)(37-A28) (1+0.09)(37-A29) (1+0.09)(37-A30) (1+0.09)(37-A31) (1+0.09)(37-A32) (1+0.09)(37-A33) (1+0.09)(37-A34) (1+0.09) (37-A35) (1+0.09)(37-A36) (1+0.09) (37-A37) (1+0.09)37-A38) B10 C10 -B11 C11 B12 C12 -B13 C13 -B14 C14 B15 *C15 B16 C16 B17"C17 -B18 C18 -B19*C19 -B20 C20 -B21 C21 -B22 C22 -B23 C23 -B24 C24 -B25 C25 -B26 C26 -B27 C27 -B28 C28 -B29 *C29 -B30 C30 -B31 C31 -B32 C32 -B33 C33 -B34 C34 -B35*C35 B36 C36 -B37 C37 -B38 C38 20 190 24 23 0 25 24 0 26 250 27 260 28 270 29 280 30 29 0 32 31 0 33 32 0 36 35 0 37 36 0 38 37 0 0 Total Future valueSUM(D2:D38) Therefore, the future value for the account is $668,106.5 9.