If you earn 6.6% APR on your savings account compounded weekly, then how many years will...
If you earn 6.6% APR on your savings account compounded weekly, then how many years will it take for your balance of $1,000 to double to $2,000? Assume 52 weeks in a year. (What numbers do I put in for N, I/Y, PV, PMT and FV into the financial calculator?)
Homework Answers
![Home nert Page Layout Formulas Data Review View dd-Ins Cut Σ AutoSum ー E ゴWrap Text aCopy в 1 프 . Ej-., Δ. : rーー 逻锂函Merge & Center. $, % , 弼,8 C Paste Conditional Format CeInsert Delete Format Formatting as Table Styles2 Clear Sort &Find & Format Painter Clipboard AY152 AR Alignment Number Cells Edting AS AT AU AV AW AX AY AZ BA BC BD 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 COMOUNDED WEEKLY WE HAVE TO FIND OUT 0.126923077 [6.6/52] 1000 PV PMT FV 0 2000 AS IT IS GIVEN COMPOUNDED WEEKLY, WE WILL GET N IN WEEKS TO GET IN YEARS, WE HAVE TO DIVIDE THE ANSWER BY 52 546.4625 WEEKS 10.5089 YEARS ANSWER 10.51 YEARS (ROUNDED TO 2 DECIMALS) | CALCULATOR AN OPTIONS fv. ann CAP STRU VALUE BOX DILUTION DOLLAR COST AVGMORTGAGE EXPO Sheeti Sheet2 Shel 03:10 20-01-2019](http://img.homeworklib.com/questions/9e7ec440-74d7-11ea-8378-c7173a09f434.png?x-oss-process=image/resize,w_560)
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If you earn 6.6% APR on your savings account compounded weekly,
then how many years will...
You need $31,000 for a down payment on a house. You plan to make monthly payments...
You need $31,000 for a down payment on a house. You plan to make monthly payments of $266 into an account earning an APR of 6.3%. The deposits will be made at the end of each month. How many years will it take for you to save up the amount needed for the down payment? (What numbers do I put in for N, I/Y, PV, PMT, and FV into the financial calculator?)
To find how many years it will take for $250.00 deposited at the end of each...
To find how many years it will take for $250.00 deposited at the end of each quarter to amount to $11,453.40 at 6% compounded quarterly, you can enter the following in the financial calculator and find the number of years: P/Y = = C/Y 1/4 = PV = Choose... PMT = FV = Choose... CPT N = Choose... which rounds up to • quarterly payments so, the number of years is Choose... To find how many quarterly payments it will...
If you invest $1,000 every month and earn 12% APR compounded monthly, how many deposits must...
If you invest $1,000 every month and earn 12% APR compounded monthly, how many deposits must you make before you can start withdrawing $1,000 every month forever...assuming you live that long? Please answer using a financial calculator.
You want to by a house for $380,000. The bank will loan you 80% of the...
You want to by a house for $380,000. The bank will loan you 80% of the amount at the following terms: 40 years, monthly payments, and an APR of 8.7%. What will be your monthly payment on the mortgage loan? (What numbers do I put into the financial calculator for N, I/Y, PV, FV and PMT?)
1. If we place $7,654 in a savings account paying 7.5 percent interest compounded annually, how...
1.
If we place $7,654 in a savings account paying 7.5 percent interest
compounded annually, how much will our account accrue to in 8.5
years?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of...
Show the excel formulas used Ex. 1 You have $5,000 in your savings account that pays...
Show the excel formulas used
Ex. 1 You have $5,000 in your savings account that pays 4% interest. How much will you have in your account after 20 years, a) if your bank pays annually compounded interest? b) if your bank pays monthly compounded interest? c) if your bank pays daily compounded interest? Current balance Interest Years Compounding Annually Monthly Daily a) FV b) FV c) FV Ex. 2 If you need $10,000 in 7 years and you can earn...
please help Sophia invested $13,480 into an account that earns 3.34% interest compounded monthly. How long...
please help
Sophia invested $13,480 into an account that earns 3.34% interest compounded monthly. How long will it take (in years and days) to accumulate to $19,750. Round up the value of N to the next higher whole number (e.g. N = 5.31 rounds up to N = 6), similarly days are rounded up to the next days. If years is a whole number, you must enter a zero for days for the answer to be marked as correct. All...
A) If you delay saving by 5 years, what would the interest rate (APR) need to...
A) If you delay saving by 5 years, what would the interest rate (APR) need to be for you to hit the target amount ($349,881.67)? Use excel RATE function and show values for arguments (nper, pmt, pv, fv, type, guess).. B) Convert that APR to an EAR. Use excel EFFECT function and show values for arguments (nominal_rate, npery) C) Amount you need in your account at retirement in order to spend $5000 each period? Use excel PV function and show...
5. Suppose a CD (Certificate of Deposit) advertised an APR of 8%. Assuming the APR was...
5. Suppose a CD (Certificate of Deposit) advertised an APR of 8%. Assuming the APR was the result of monthly compounding, find the effective annual yield to the nearest tenth of a percent. 8. The going rate for a home mortgage with a term of 30 years is 3.8%. The lending agency says that based on your income, your monthly payment could be $900. How much can you borrow? 9. Suppose you invest $5,000 in a savings account that pays...
Now do an Amortization Schedule Bank A's offer is 15 years at 3.5% interest compounded monthly....
Now do an Amortization Schedule Bank A's offer is 15 years at 3.5% interest compounded monthly. Determine your monthly payment. Write in a complete sentence. Fill in what you would put on the calculator to show work. Calculator APPS / Finance / TVM Solver N = 180 I% = 3.5 PV = -1175000 PMT = Solve FV = 0 P/Y = 12 C/Y = 12 PMT: end/begin Alpha Solve My monthly Payments would be $8,399.87 What is the total amount...
To find how many years it will take for $250.00 deposited at the end of each quarter to amount to $11,453.40 at 6% compounded quarterly, you can enter the following in the financial calculator and find the number of years: P/Y = = C/Y 1/4 = PV = Choose... PMT = FV = Choose... CPT N = Choose... which rounds up to • quarterly payments so, the number of years is Choose... To find how many quarterly payments it will...
1.
If we place $7,654 in a savings account paying 7.5 percent interest
compounded annually, how much will our account accrue to in 8.5
years?
PLEASE SHOW ME EXACTLY HOW TO DO THE PROBLEM!!!! I INSERTED A
PICTURE FOR AN EXAMPLE!
Future Value after 9 years is calculated using EXCEL FUNCTION FV(rate, nper,pmt, pv,type) where rate-1.5%; nper-9; pmt-o; pe-3520000; type=0; Here, value for pv is negative as it denotes cash inflows; type as interest is compounded at the end of...
Show the excel formulas used
Ex. 1 You have $5,000 in your savings account that pays 4% interest. How much will you have in your account after 20 years, a) if your bank pays annually compounded interest? b) if your bank pays monthly compounded interest? c) if your bank pays daily compounded interest? Current balance Interest Years Compounding Annually Monthly Daily a) FV b) FV c) FV Ex. 2 If you need $10,000 in 7 years and you can earn...
please help
Sophia invested $13,480 into an account that earns 3.34% interest compounded monthly. How long will it take (in years and days) to accumulate to $19,750. Round up the value of N to the next higher whole number (e.g. N = 5.31 rounds up to N = 6), similarly days are rounded up to the next days. If years is a whole number, you must enter a zero for days for the answer to be marked as correct. All...
5. Suppose a CD (Certificate of Deposit) advertised an APR of 8%. Assuming the APR was the result of monthly compounding, find the effective annual yield to the nearest tenth of a percent. 8. The going rate for a home mortgage with a term of 30 years is 3.8%. The lending agency says that based on your income, your monthly payment could be $900. How much can you borrow? 9. Suppose you invest $5,000 in a savings account that pays...
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