7, what amount should be deposited at 6% in order to draw out $400 at the...
An investor needs $16,000 in 16 years. (a) What amount should be deposited in a fund at the end of each quarter at 6% compounded quarterly so that there will be enough money in the fund? (b) Find the investor's quarterly deposit if the money is deposited at 9.6% compounded quarterly. (a) The deposit should be $ - (Do not round until the final answer. Then round to the nearest cent as needed.)
3. What equal annual amount must be deposited for 10 years in order to provide withdrawals of $300 at the end of second year, S600 at the end of third year, $900 at the end of fourth year, and so on, up to the tenth year? The interest rate is 10% compounded annually.
Instructor-created question How much money should be deposited each year fr 13 years if you wish to with draw S298 each year tr te years, beging at the end of the 14th year? Let i:7% per year The annual deposit amount should equal S (Round to the nearest cent.)
The nominal interest rate is 10% compounded semiannually. What amount will need to be deposited every six months to be able to have enough money to pay three annuity payments of $5,000 for three years beginning at the end of year seven? The deposits begin now and continue every six months until six deposits have been made. The amount to be deposited every six months is?
ey should be deposited each year for 13 years if you wish to withdraw $305 each year for five years, begining at the end of the 14th year? Let i-6% per year. The annual deposit amount should equal $T719 (Round to the nearest cent)
What sum deposited today at 5% compounded annually for 8 years will provide the same amount as $2400 deposited at the end of each year for 8 years at 8% compounded annually? What sum would have to be deposited today at 5% interest compounded annually? (Round to the nearest cent.)
How much money should be deposited each year for 13 years if you wish to withdraw $296 each year for five years, beginning at the end of the 14th year? Let i=7% per year The annual deposit amount should equal S 60.28. (Round to the nearest cent.) You answered: 63.40 Correct answer: 60.26 to 60.280.05 Get answer feedback
6 Suppose you deposited on amount o p in a bank squings account today. at 3% fnterestcampaunded anwally. What would be total the sum of the compound amant of this deposit at the end of a years) Deurlop a formula for the sum of the compound amount (F)
7. Use the present value formula or the future value table to determine the rate of return for each of the specified investments. A. Assume an investment of$30,000 today is expected to mature in ten years with a value of $59,010. What is the annual rate of return (r) that will be earned on this investment? B. Assume a business is considering an investment of $20,000 that will grow to $36,000 in eight years. The business requires a 7 percent...
6 Q097 Sinking Fund Veronica wants to set up a sinking fund in order to have $16,300. in 14 years. she can obtain an annual interest rate of 3.65%. Find the amount of payment she should pay into the fund at the end of each period in order to achieve this goal. Assume that the interest on the fund is compounded monthly and the payments are at the end of each month. Round your final answer to the nearest penny....