Homework Answers
| Future value | = | Monthly cash flow | * | Future value of annuity of 1 | ||||
| = | $ 3,000 | * | 23.50573 | |||||
| = | $ 70,517.20 | |||||||
| Working; | ||||||||
| Future value of annuity of 1 | = | (((1+i)^n)-1)/i | Where, | |||||
| = | (((1+0.00625)^22)-1)/0.00625 | i | = | 2.5%/4 | = | 0.00625 | ||
| = | 23.505733 | n | = | 5.5*4 | = | 22 | ||
Add Answer to:
The owner of Oak Hill Squirrel Farm deposits $3,000 at the end of each quarter into...
Suppose a young couple deposits $600 at the end of each quarter in an account that...
Suppose a young couple deposits $600 at the end of each quarter in an account that earns 7.2%, compounded quarterly, for a period of 4 years. How much is in the account after the 4 years? (Round your answer to the nearest cent.) After the 4 years, they start a family and find they can contribute only $200 per quarter. If they leave the money from the first 4 years in the account and continue to contribute $200 at the...
A small business owner contributes 54,000 at the end of each quarter to a retirement account...
A small business owner contributes 54,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly (a) How long will be until the account is worth at least $150,000? (Round your answer Up to the nearest quarter.) Quarter (b) Suppose when the account reaches $150,000, the business owner increases the contributions to 16.000 at the end of each quarter what will the total value of the account be after 15 more years? (Round your answer...
A small business owner contributes $4,000 at the end of each quarter to a retirement account...
A small business owner contributes $4,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly. (a) How long will it be until the account is worth at least $150,000? (Round your answer UP to the nearest quarter.) (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $8,000 at the end of each quarter. What will the total value of the account be after 15 more years? (Round your answer...
A small business owner contributes $4,000 at the end of each quarter to a retirement account that earns 6% compounded qu...
A small business owner contributes $4,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly. (a) How long will it be until the account is worth at least $150,000? (Round your answer UP to the nearest quarter.) _______ quarters (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $8,000 at the end of each quarter. What will the total value of the account be after 15 more years? (Round...
1. 2. You plan to make annual end-of-year deposits of $3,000 for the next 10 years...
1.
2.
You plan to make annual end-of-year deposits of $3,000 for the next 10 years followed by a final deposit of $11,000 at the end of year 11. The deposits earn interest of 4.0%. What will the account balance be by the end of 17 years? Round to the nearest cent. Numeric Answer: If $1,000 is invested in an account earning 6% interest compounded quarterly for 5 years, what is the periodic interest rate (i/m)? Provide the answer in...
My Notes AR Your Teacher A small business owner contributes $3000 at the end of each...
My Notes AR Your Teacher A small business owner contributes $3000 at the end of each quarter to a retirement account that earns compounded quarterly (a) How long will it be until the account is worth $150,000? (Round your answer UP to the nearest quarter.) X quarters (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $7000 at the end of each quarter. What will the total value of the account be after 15 more...
Just need the answers please $8000 is deposited at the end of each half year in...
Just need the answers please
$8000 is deposited at the end of each half year in an account that earns 6.7% compounded semiannually, after how many half years will the account contain $140,000? (Round your arvwer up to the nearest half year) half years Need Help? Find the future value of an annuity due of $900 each quarter for years at 9%, compounded quarterly (Round your answer to the nearest cont.) $ Need Help? Red Maverit Talk to Tutor Find...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
30. You plan to make five deposits of $1,000 each, one every 6 months, with the...
30. You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 6% nominal interest, compounded semiannually, how much will be in your account after 3 years? Do not round intermediate calculations. Round your answer to the nearest cent. $ One year from today you must make a payment of $9,000. To prepare for this payment, you plan...
Mr. Gordon plans to invest $200 at the end of each month in an account that...
Mr. Gordon plans to invest $200 at the end of each month in an account that pays 12%, compounded monthly. After how many months will the account be worth $50,0007 (a) state whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (6) Solve the problem. (Round your answer up to the nearest month.) months Sam deposits $900 at the end of every month in an account that pays 7%, compounded monthly. How...
A small business owner contributes 54,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly (a) How long will be until the account is worth at least $150,000? (Round your answer Up to the nearest quarter.) Quarter (b) Suppose when the account reaches $150,000, the business owner increases the contributions to 16.000 at the end of each quarter what will the total value of the account be after 15 more years? (Round your answer...
1.
2.
You plan to make annual end-of-year deposits of $3,000 for the next 10 years followed by a final deposit of $11,000 at the end of year 11. The deposits earn interest of 4.0%. What will the account balance be by the end of 17 years? Round to the nearest cent. Numeric Answer: If $1,000 is invested in an account earning 6% interest compounded quarterly for 5 years, what is the periodic interest rate (i/m)? Provide the answer in...
My Notes AR Your Teacher A small business owner contributes $3000 at the end of each quarter to a retirement account that earns compounded quarterly (a) How long will it be until the account is worth $150,000? (Round your answer UP to the nearest quarter.) X quarters (b) Suppose when the account reaches $150,000, the business owner increases the contributions to $7000 at the end of each quarter. What will the total value of the account be after 15 more...
Just need the answers please
$8000 is deposited at the end of each half year in an account that earns 6.7% compounded semiannually, after how many half years will the account contain $140,000? (Round your arvwer up to the nearest half year) half years Need Help? Find the future value of an annuity due of $900 each quarter for years at 9%, compounded quarterly (Round your answer to the nearest cont.) $ Need Help? Red Maverit Talk to Tutor Find...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
Mr. Gordon plans to invest $200 at the end of each month in an account that pays 12%, compounded monthly. After how many months will the account be worth $50,0007 (a) state whether the problem relates to an ordinary annuity or an annuity due O ordinary annuity annuity due (6) Solve the problem. (Round your answer up to the nearest month.) months Sam deposits $900 at the end of every month in an account that pays 7%, compounded monthly. How...
Most questions answered within 3 hours.
-
Calculate the equillibrium constent K for a redox reaction that
has E°cell = -.98 V at...
asked 9 minutes ago -
A concave spherical mirror has a radius of curvature of
magnitude 19.6 cm.
(a) Find the...
asked 11 minutes ago -
3. draw a diagram of the magnetic field:
a. around a long straight wire with a...
asked 9 minutes ago -
If you titrated 30.0 mL of 0.1 M HCl with 0.1 M NaOH, indicate
the approximate...
asked 18 minutes ago -
NADH passes electrons into the electron transport chain. List
the carriers that would receive the electrons,...
asked 26 minutes ago -
A cylindrical cable with a resistivity of 1.6x10-8 Ω·m and cross
sectional area of 3x10-5 m^2...
asked 26 minutes ago -
True or False.
A consumer with convex preferences who is indifferent between
the bundles (5,2) and...
asked 30 minutes ago -
A diamond's index of refraction for red light, 656 nm, is 2.410,
while that for blue...
asked 43 minutes ago -
Compare HPLC, SPE, and GC. Identify the differences, the
advantages, and the weaknesses of each method.
asked 44 minutes ago -
Characteristic x-rays emitted by potassium have a wavelength of
0.374 nm. What is the energy of...
asked 46 minutes ago -
there is a function to create two random numbers between 1 and
25 and a function...
asked 1 hour ago -
At a certain temperature, the ?pKp for the decomposition of
H2SH2S is 0.832.0.832.
H2S(g)↽−−⇀H2(g)+S(g)H2S(g)↽−−⇀H2(g)+S(g)
Initially, only...
asked 58 minutes ago