you are plannibg to make a series of deposits for an expense in the future. you...
Homework Answers
Ans $ 15691.29
| FV = | Future Value |
| PV = | Present Value |
| r = | rate of interest |
| n= | no of period |
| a) | FV = | PV (1 + r )^n |
| FV = | 5000*(1+4.5%)^9 | |
| FV = | 7430.48 | |
| b) | FV = | PV (1 + r )^n |
| FV = | 4000*(1+4.5%)^5 | |
| FV = | 4984.73 | |
| c) | FV = | PV (1 + r )^n |
| FV = | 3000*(1+4.5%)^2 | |
| FV = | 3276.08 | |
| TOTAL FV = | 7430.48 + 4984.73 + 3276.08 | |
| 15691.29 |
Add Answer to:
you
are plannibg to make a series of deposits for an expense in the
future. you...
Show step by step how to solve Correct ANSWERS: 6-2 $15,691.28 6-3 $533,333.33 6-4 $4,375.00 (6-2)...
Show step by step how to solve
Correct ANSWERS:
6-2 $15,691.28
6-3 $533,333.33
6-4 $4,375.00
(6-2) You are planning to make a series of deposits for an anticipated expense in the future. You will deposit $5,000 next year, $4,000 in five years, and $3,000 eight years from today. If the interest rate is 4.50%, how much will you accumulate in ten years? (6-3) You want to establish a perpetuity that will pay $20,000 per year forever. If the rate is...
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Show step by step how to solve
Correct ANSWERS:
6-2 $15,691.28
6-3 $533,333.33
6-4 $4,375.00
(6-2) You are planning to make a series of deposits for an anticipated expense in the future. You will deposit $5,000 next year, $4,000 in five years, and $3,000 eight years from today. If the interest rate is 4.50%, how much will you accumulate in ten years? (6-3) You want to establish a perpetuity that will pay $20,000 per year forever. If the rate is...
8-One year from now, you deposit $300 in a savings account. You deposit $1,800 the next year. Then you wait two more years (until 4 years from now) and deposit $1,000. If your account always earns 6% annual interest and you make no withdrawals, how much will be in the account 11 years from now? 9-You deposit $5000 for 5 years at 4% annual interest. In 5 years, you add $15,000 to your account, but the rate on your account...
You plan to make six equal, end-of-year deposits over the next six years into an account that will pay you 7% interest annually. The first deposit will occur one year from today and the last will occur six years from today. If you need to have $2,000 in the account at the end of 6 years, how much do you need to deposit at the end of each year in order to have the required amount? Enter your answer without...
-27 How much invested now at an interest rate of 9% compounded annually would be just sufficient to provide three payments as follows: the first payment in the amount of $3,000 occurring two years from now, the second payment in the amount of $4,000 five years thereafter, and the third payment in the amount of $5,000 seven years thereafter? 62.34 What is the future worth of a series of equal yearly deposits of $5,000 for 7 years in a savings...
Homework Provided are links to the present and future value tables: PV of $1. EV of $1. PVA of $1. and EVA of $1 (Use appropriate factor(s) from the tables provided. Round your answer to the nearest whole dollar.) a. How much would you have to deposit today if you wanted to have $40,000 in five years? Annual Interest rate is 8%. b. Assume that you are saving up for a trip around the world when you graduate in three...
It is now January 1. You plan to make a total of 5 deposits of $400 each, one every 6 months, with the first payment being made today. The bank pays a nominal interest rate of 8% but uses semiannual compounding. You plan to leave the money in the bank for 10 years. Do not round intermediate calculations. Round your answers to the nearest cent. a. How much will be in your account after 10 years? b. You must make...
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