What is the accumulated value of periodic deposits of $20 at the beginning of every quarter...
What is the accumulated value of periodic deposits of $20 at the beginning of every quarter for 18 years if the interest rate is 3.45% compounded quarterly?
Homework Answers
Calculation of accumulated value of quarterly deposit of $20 for
18 years in the following image
Accumulated value = $ 2001.64
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What is the accumulated value of periodic deposits of $20 at the
beginning of every quarter...
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...
What is the future value of $500 paid at the end of each quarter (i.e. every...
What is the future value of $500 paid at the end of each quarter (i.e. every three months) for the next 5 years if the interest rate is 7% per year, compounded quarterly? The future value of the annuity is $. (Round to the nearest dollar.)
3. A student pays 87.50 per quarter for insurance. What would the pay- ments be if...
3. A student pays 87.50 per quarter for insurance. What would the pay- ments be if they were made annually? Monthly? Weekly? Every two years? Annual interest is 18% compounded monthly. 4. A bank customer deposits $100 at the end of every quarter for 5 years. He then increases the deposit to $120 and continues to make quarterly payments for 6 more years. Assuming an effective rate of 8% per annum, how much is in account after 5 years? After...
1. Frank makes deposits into his savings account of $225 at the beginning of every three...
1. Frank makes deposits into his savings account of $225 at the beginning of every three months. Interest earned by the deposits is 3% compounded quarterly. (a) What will the balance in Frank's account be after eight years? (b) How much of the balance will Frank have contributed? (c) How much of the balance is interest? (a) The balance in Frank's account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to...
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?
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?
What is the accumulated value after 15 years of monthly deposits of $ 1500.00 earning interest...
What is the accumulated value after 15 years of monthly deposits of $ 1500.00 earning interest at 8% compounded monthly if the deposits are made at the beginning of each month? Select one: a. $513 102.31 b. $522 536.41 c. $518 507.23 d. $516 467.23 e. $519 075.73
What is the present value of the following annuity? $4,947 every quarter year at the end...
What is the present value of the following annuity? $4,947 every quarter year at the end of the quarter for the next 4 years, discounted back to the present at 14.22 percent per year, compounded quarterly?
1. Find the accumulated value of an annuity due of $500 payable at the beginning of...
1. Find the accumulated value of an annuity due of $500 payable at the beginning of every month for nine years at 8% compounded monthly. 2. Lily purchased a boat valued at $19 000 on an installment plan requiring equal monthly payment for four years. If the first payment is due on the date of purchase and interest is 6.2% compounded monthly, what is the size of the monthly payment? 3. A car can be purchased by paying $27 000...
Deposits were placed at the beginning of every month for eight years into an account which...
Deposits were placed at the beginning of every month for eight years into an account which earned 8% compounded semiannually. If $20,000 accumulated at the end of the eight years, determine the size of the deposits.
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...
What is the future value of $500 paid at the end of each quarter (i.e. every three months) for the next 5 years if the interest rate is 7% per year, compounded quarterly? The future value of the annuity is $. (Round to the nearest dollar.)
3. A student pays 87.50 per quarter for insurance. What would the pay- ments be if they were made annually? Monthly? Weekly? Every two years? Annual interest is 18% compounded monthly. 4. A bank customer deposits $100 at the end of every quarter for 5 years. He then increases the deposit to $120 and continues to make quarterly payments for 6 more years. Assuming an effective rate of 8% per annum, how much is in account after 5 years? After...
1. Frank makes deposits into his savings account of $225 at the beginning of every three months. Interest earned by the deposits is 3% compounded quarterly. (a) What will the balance in Frank's account be after eight years? (b) How much of the balance will Frank have contributed? (c) How much of the balance is interest? (a) The balance in Frank's account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to...
1. Find the accumulated value of an annuity due of $500 payable at the beginning of every month for nine years at 8% compounded monthly. 2. Lily purchased a boat valued at $19 000 on an installment plan requiring equal monthly payment for four years. If the first payment is due on the date of purchase and interest is 6.2% compounded monthly, what is the size of the monthly payment? 3. A car can be purchased by paying $27 000...
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