ZuoTi.Pro
Question

Question 7 Six years from today you need $20,000. You plan to deposit $3,000 annually, with the first payment to be made a ye
business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

D8 Year : X fic =+D10-SUM(D3:07) A B C D Cash flows FVIF@8% Future value 0 $ - 1.587 $ 1 $ 3,000 1.469 $ 4,407.98 2 $ 3,000 1

*Please rate thumbs up

1 0
Add a comment
Know the answer?
Add Answer to:
Question 7 Six years from today you need $20,000. You plan to deposit $3,000 annually, with...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Six years from today you need $10,000. You plan to deposit $1,600 annually, with the first...

    Six years from today you need $10,000. You plan to deposit $1,600 annually, with the first payment to be made a year from today, in an account that pays a 6% effective annual rate. Your last deposit, which will occur at the end of Year 6, will be for less than $1,600 if less is needed to reach $10,000. How large will your last payment be? Do not round intermediate calculations. Round your answer to the nearest cent. Anser using...

  • You plan to make six equal, end-of-year deposits over the next six years into an account...

    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...

  • You need to accumulate $10,000. To do so, you plan to make deposits of $1,950 per...

    You need to accumulate $10,000. To do so, you plan to make deposits of $1,950 per year - with the first payment being made a year from today - into a bank account that pays 8.05% annual interest. Your last deposit will be less than $1,950 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? How large will the last deposit be?

  • You need to accumulate $10,000. To do so, you plan to make deposits of $1,950 per...

    You need to accumulate $10,000. To do so, you plan to make deposits of $1,950 per year - with the first payment being made a year from today - into a bank account that pays 8.05% annual interest. Your last deposit will be less than $1,950 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? How large will the last deposit be?   

  • Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make...

    Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,900 per year - with the first payment being made a year from today - into a bank account that pays 10.7% annual interest. Your last deposit will be less than $1,900 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number....

  • You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per...

    You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per year - with the first payment being made a year from today - into a bank account that pays 8.81% annual interest. Your last deposit will be less than $1,000 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number. year(s) How large will...

  • You need to accumulate $10,000. To do so, you plan to make deposits of $1,750 per...

    You need to accumulate $10,000. To do so, you plan to make deposits of $1,750 per year - with the first payment being made a year from today - into a bank account that pays 11.46% annual interest. Your last deposit will be less than $1,750 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number. year(s) How large will...

  • Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make...

    Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,800 per year - with the first payment being made a year from today - into a bank account that pays 11.25% annual interest. Your last deposit will be less than $1,800 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number....

  • Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make...

    Reaching a Financial Goal You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per year - with the first payment being made a year from today - into a bank account that pays 7.15% annual interest. Your last deposit will be less than $1,000 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number.__________...

  • ou need to accumulate $10,000. To do so, you plan to make deposits of $1,150 per...

    ou need to accumulate $10,000. To do so, you plan to make deposits of $1,150 per year - with the first payment being made a year from today - into a bank account that pays 8.62% annual interest. Your last deposit will be less than $1,150 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Round your answer up to the nearest whole number. 7.year(s) How large will...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT