For the last 3 years Paul has made deposits of $128.00 at the end of every...
For the last 3 years Paul has made deposits of $128.00 at the end of every six months earning interest at 11% compounded semi-annually. If he leaves the accumulated balance for another 5 years at 10% compounded annually, what will the balance be in the account?
Homework Answers
Calculating Future Value at the end of Year 3,
Using TVM Calculation,
FV = [PV = 0, PMT = 128, N = 6, I = 0.11/2]
FV = $881.67
Calculating Future Value at then end of Year 8,
Future Value = 881.67(1.10)5
Future Value = $1,419.94
Add Answer to:
For the last 3 years Paul has made deposits of $128.00 at the
end of every...
For the last 4 years Paul has made deposits of $94.00 at the end of every...
For the last 4 years Paul has made deposits of $94.00 at the end of every three months earning interest at 5% compounded quarterly. If he leaves the accumulated balance for another 9 years at 12% compounded annually, what will the balance be in the account?
For the last 5 years Kerwin has made deposits of $126.00 at the end of every...
For the last 5 years Kerwin has made deposits of $126.00 at the end of every six months earning interest at 6 % compounded semi-annually. If he leaves the accumulated balance for another 4 years at 10 % compounded annually , what will the balance be in the account?The balance will be $---------nothing. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
For the last 8 years Paul has made deposits of $84.00 at the end of every...
For the last 8 years Paul has made deposits of $84.00 at the end of every month earning interest at 9% compounded monthly. If he leaves the accumulated balance for another 5 years at 5% compounded quarterly, what will the balance be in the account? The balance will be $__? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
For the last 3 years Kerwin has made deposits of $120.00 at the end of every...
For the last 3 years Kerwin has made deposits of $120.00 at the end of every month earning interest at 10% compounded monthly. If he leaves the accumulated balance for another 5 years at 9% compounded quarterly what will the balance be in the account?
Jean receives annuity payments at the end of every six months. If she deposits these payments...
Jean receives annuity payments at the end of every six months. If she deposits these payments in an account earning interest at 9% compounded monthly, what is the equivalent semi-annually compounded rate of interest? What sum of money must be deposited at the end of every 3 months into an account paying 6% compounded monthly to accumulate to $25,000 in 10 years? Irina deposited $150 in a savings account at the end of each month for 60 months. If the...
Deposits of $96.00 are made at the end of every six months for 9.5 years. What...
Deposits of $96.00 are made at the end of every six months for 9.5 years. What will the deposits amount to if interest is 9% compounded semi-annually? The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
1. You won $100 000 in a lottery and you want to set some of that...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
A company deposits $2,000 in a bank account every six months for 10 years. The account...
A company deposits $2,000 in a bank account every six months for 10 years. The account earns 6% interest compounded annually. How much money will be in the account at the end of 10 years?
Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $170 into a...
Starting six months after her grandson Robin's birth, Mrs. Devine made deposits of $170 into a trust fund every six months until Robin was twenty dash one years old. The trust fund provides for equal withdrawals at the end of each six months for two years, beginning six months after the last deposit. If interest is 5.66% compounded semi dash annually, how much will Robin receive every six months? Robin will receive $
1. Deposits of $1200.00 are being made at the beginning of every 3 months for 10...
1. Deposits of $1200.00 are being made at the beginning of
every 3 months for 10 years. At the end of the 10 year term the
accumulated amount is left in the fund for a further 5 years (the
deposits have stopped). What is the maturity value at the end of
the 15 year term if the interest rate for the full period is 5.25%
compounded semiannually?
2. Find the monthly payments for a mortgage of $200,000 that
is to...
Jean receives annuity payments at the end of every six months. If she deposits these payments in an account earning interest at 9% compounded monthly, what is the equivalent semi-annually compounded rate of interest? What sum of money must be deposited at the end of every 3 months into an account paying 6% compounded monthly to accumulate to $25,000 in 10 years? Irina deposited $150 in a savings account at the end of each month for 60 months. If the...
Deposits of $96.00 are made at the end of every six months for 9.5 years. What will the deposits amount to if interest is 9% compounded semi-annually? The future value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
A company deposits $2,000 in a bank account every six months for 10 years. The account earns 6% interest compounded annually. How much money will be in the account at the end of 10 years?
1. Deposits of $1200.00 are being made at the beginning of
every 3 months for 10 years. At the end of the 10 year term the
accumulated amount is left in the fund for a further 5 years (the
deposits have stopped). What is the maturity value at the end of
the 15 year term if the interest rate for the full period is 5.25%
compounded semiannually?
2. Find the monthly payments for a mortgage of $200,000 that
is to...
Most questions answered within 3 hours.
-
Bank of America has bonds that pay a coupon interest rate of 5.5
percent and mature...
asked 35 minutes ago -
Problem: Patient Fees C++
You are to write a program that computes a patient’s bill for...
asked 2 hours ago -
In a population of interest, we know that, 77% drink coffee, and
23% drink tea. Assume...
asked 2 hours ago -
Given that f(x) = e-(x-1) for x > 1, determine the following
probabilities:
a) P(X <...
asked 2 hours ago -
A mechanic pushes a 2.60 ✕ 103-kg car from rest to a speed of v,
doing...
asked 2 hours ago -
International information systems result in all of the following
except:
A. improved quality of information flow....
asked 2 hours ago -
The president of the retailer Prime Products has just approached
the company’s bank with a request...
asked 2 hours ago -
If the carrying amount is $200,000 and recoverable amount is
$205000, the impairment amount is:
Select...
asked 2 hours ago -
The correlation is inappropriate as a measure of association
between two quantitative variables (you may select...
asked 2 hours ago -
USE THE DATA IN THE TABLE BELOW TO ANSWER QUESTIONS 19 – 24
(Assume all account...
asked 2 hours ago -
Mahaley, Inc., manufactures and sells two products: Product Q9
and Product F0. Data concerning the expected...
asked 2 hours ago -
To measure the current through one branch of a parallel circuit,
the meter is connected ________....
asked 2 hours ago