1. 2. You plan to make annual end-of-year deposits of $3,000 for the next 10 years...
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...
Starting at the end of this year, you plan to make annual deposits of $8,000 for the next 10 years followed by deposits of $9,000 for the following 10 years. The deposits earn interest of 7.0%. What will the account balance be by the end of 25 years? Round to the nearest cent.
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...
FV = $22,199.72 (1 +0.07)3 + $9,000 (1 +0.07)2 = $37,499.71 Practice question 2.28 Homework – Unanswered Starting at the end of this year, you plan to make annual deposits of $5,000 for the next 8 years followed by a final deposit of $10,000 in year 9. The deposits earn interest of 4.0%. What will the account balance be by the end of 13 years? Round to the nearest cent. Numeric Answer: Unanswered 2 attempts left Submit Deferred Annuities [...
You plan to make annual deposits of $8,000 into an account at the beginning of each year for the next 8 years. If you can earn 5.1% interest, what will your final balance be by the end of 8 years? Round to the nearest cent.
The owner of Oak Hill Squirrel Farm deposits $3,000 at the end of each quarter into an account paying 2.5% compounded quarterly. What is the value at the end of 5 years, 6 months? (Round your answer to the nearest cent.) X\
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.)
You plan to deposit $1,000 today, $5,000 in one year and $1,000 in two years in an account earning 6.0% interest. What will the account balance be in 4 years? Round to the nearest cent.
If Jackson deposits $100 at the end of each month in a savings account earning interest at a rate of 3%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 years, assuming he makes no withdrawals during that period? (Round your answer to the nearest cent.)
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...