The answer for above problem is explained below.
Answer Question 34 (1 point) You are able to deposit $4270 annually into a bank account...
: 2:00:00 Time Taken..0.0 War R. FLIP Question 11 (1 point) How many years will it take you to pay off a loan of $35750 if you make semiannually payments of $6660 and the bank is charging you 7% annually? (Express your answer to two decimal places.) Your Answer: Answer Question 12 (1 point) How many years will it take to accumulate $7200 if you are able to deposit $426 quarterly into a bank account that is paying 3% annually?...
Answer Question 36 (1 point) How much should you deposit into a bank account semiannually in order to buy a property that you expect to cost $21800 in 8 years if the account pays 4% annual interest? (Express your answer as a positive number and to two decimal places.) Your Answer: Answer Question 37 (1 point) Saved What is the expected annual rate of return on a property which you purchased 13 years ago for $777.400 and it pays you...
a. You deposit $1,800 in your bank account. If the bank pays 5% simple Interest, how much will you accumulate in your account after 8 years? Future value b. What if the bank pays compound Interest (annually? (Do not round Intermediate calculations. Round your answer to 2 decimal places) Compound Interest c. How much of your earnings will be interest on Interest? (Round your answer to 2 decimal places.) Interest on Interest
You deposit $1,900 in your bank account. If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years? Future value $ b. What if the bank pays compound interest (annually)? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Compound interest $ c. How much of your earnings will be interest on interest? (Round your answer to 2 decimal places.) Interest on interest $
In this question, you have $27,609.98 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $280,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.
Answer in Excel If I deposit $8,000 in a bank account that pays interest of 1.5%, compounded annually, how much will I have in the account after 10 years? If I deposit $8,000 in a bank account that pays simple interest of 1.5%, how much will I have in the account after 10 years? How would you explain the difference in the answers to the foregoing two problems, given that both banks pay interest at the same rate? Be specific....
You have $5,547.44 in a brokerage account, and you plan to deposit an additional $6,000 at the end of every future year until your account totals $240,000. You expect to earn 13% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations
Future value If you deposit $6,000 in a bank account that pays 3% interest annually, how much would be in your account after 5 years? Round your answer to the nearest cent.
(1 point) If you make a deposit into a bank account, at what interest rate (compounded daily) should you invest if you would like to double your investment in 98 days? % (Note: Your answer should be accurate to two decimal places)
(1 point) If you make a deposit into a bank account, at what interest rate (compounded monthly) should you invest if you would like to double your investment in 64 months? % (Note: Your answer should be accurate to two decimal places)