Question 4 0.5 pts You deposit $321 at the end of each quarter into an account...

Question

Question

Question 4 0.5 pts You deposit $321 at the end of each quarter into an account that pays a nominal annual rate of 16% compoun

Answer 1

Answer #1

I = 16% / 4 = 4% per quarter

t = 15 yrs = 15 * 4 = 60 quartes

Future worth = 321 * (F/A, 4%,60)

= 321 * 237.990685

= 76395.00

Answer 2

Similar Homework Help Questions

You deposit $258 at the end of each quarter into an account that pays a nominal annual rate of 16% compounded quarterly...

You deposit $258 at the end of each quarter into an account that pays a nominal annual rate of 16% compounded quarterly. How much will you have in the account at the end of 15 years? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point("").
Question 6 0.75 pts For retirement planning, you decide to deposit $1,156 at the end of...

Question 6 0.75 pts For retirement planning, you decide to deposit $1,156 at the end of every quarter and increase your deposit by $31 each quarter. How much will you have at the end of 25 years if the bank pays a nominal annual rate of 6% compounded quarterly? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas (',') or a decimal point (":").
For retirement planning, you decide to deposit $1,119 at the end of every quarter and increase...

For retirement planning, you decide to deposit $1,119 at the end of every quarter and increase your deposit by $54 each quarter. How much will you have at the end of 25 years if the bank pays a nominal annual rate of 6% compounded quarterly? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ()") or a decimal point ("").

For retirement planning, you decide to deposit $924 at the end of every quarter and increase...

For retirement planning, you decide to deposit $924 at the end of every quarter and increase your deposit by $2 each quarter. How much will you have at the end of 25 years if the bank pays a nominal annual rate of 6% compounded quarterly? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("') or a decimal point("").
I NEED ABSOLUTELY CORRECT ANSWERS FOR THESE. Question 5 0.4 pts You have $792,065 in a...

I NEED ABSOLUTELY CORRECT ANSWERS FOR THESE. Question 5 0.4 pts You have $792,065 in a retirement account that pays a nominal annual interest rate of 9%, compounded quarterly. If you plan to take a quarterly distribution for the next 12 years, how much could you withdraw each quarter? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point (":"). Question 6 0.5 pts Kreskin deposits $6,011...
You make a deposit of $927 into a savings account at the end of each year...

You make a deposit of $927 into a savings account at the end of each year for the next 9 years. How much can you withdraw immediately after your last deposit if your savings account pays 7% compounded annually? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), commas() or a decimal point (""

You have $783,278 in a retirement account that pays a nominal annual interest rate of 9%,...

You have $783,278 in a retirement account that pays a nominal annual interest rate of 9%, compounded quarterly. If you plan to take a quarterly distribution for the next 14 years, how much could you withdraw each quarter? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point (":").
You make a quarterly deposit of $116 into a savings account for the next 12 years....

You make a quarterly deposit of $116 into a savings account for the next 12 years. How much can you withdraw immediately after your last deposit if your savings account pays 2% per quarter? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point ("!").
You make a quarterly deposit of $141 into a savings account for the next 27 years. How much can you withdraw immediatel...

You make a quarterly deposit of $141 into a savings account for the next 27 years. How much can you withdraw immediately after your last deposit if your savings account pays 9% per quarter? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas ("") or a decimal point("").

For retirement, you decide to deposit $8805 at the end of each year and you will...

For retirement, you decide to deposit $8805 at the end of each year and you will increase your deposit by $214 per year. How much will you have at the end of 20 years if the bank pays 2.5% compounded annually? Enter your answer as follows: 12345 Round your answer. Do not use a dollar sign ("$"), any commas(") or a decimal point")