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Show the excel formulas used
Ex. 1 You have $5,000 in your savings account that pays...
Show the excel formulas used and answer all questions Ex. 1 You have $5,000 in your...
Show the excel formulas used and answer all questions
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...
Question 1 Suppose you make a monthly contribution of $6,000 to your savings account at the...
Question 1 Suppose you make a monthly contribution of $6,000 to your savings account at the end of each month for five years. How much can be withdrawn at the end of five years, a) If your savings account earns 10% interest compounded monthly? b) If your savings account earns 10% interest compounded daily?
You have deposited your savings into an investment account each month. You are hoping to earn...
You have deposited your savings into an investment account each month. You are hoping to earn enough interest in order to make the down payment on a new car. If your account earns a nominal rate of 4% interest per year, then which compounding frequency will give you the highest future balance in your account over time? All of the above will give the same result if the nominal rate is always 4% Daily compounding Annual compounding Weekly compounding Monthly...
please answer all in full 1. On your 1st birthday, you received a $10 savings account...
please answer all in full 1. On your 1st birthday, you received a $10 savings account earning 6% annually. How much will you have in the account on your 30th birthday if you don't withdraw any money before then? 2. Your partner just promised to you that he/she will give you a graduation gift by paying half of of a new car when you receive an MBA degree in 2 years. Suppose that you also have $9,000 to invest today...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds int...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds interest annually, how much will you have in your account in four years? b. What would your balance be in four years if the bank used quarterly com- pounding rather than annual compounding? C. Suppose you deposited the $1,000 in four payments of $250 each year beginning one year from now. How much would you have in your account after...
If you deposit $1,067 per month into a savings account that pays an annual rate of...
If you deposit $1,067 per month into a savings account that pays an annual rate of 4.7 percent, compounded monthly, how much will you have in the account after 31 years? Show using Excel Functions. Nper Rate PV FV PMT
You have a savings account that earns 5% Interest, compounded annually. A friend has offered you...
You have a savings account that earns 5% Interest, compounded annually. A friend has offered you an investment opportunity, he says that if you invest In his new business, he will pay you $34,000 a year for the next five years. What is the maximum amount you would be willing to invest in your friend's business? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV...
Suppose you currently have $5,000 in your savings account, and your bank pays interest at a...
Suppose you currently have $5,000 in your savings account, and your bank pays interest at a rate of 0.5% per month. If you n how much will you have in the account in 5 years? In 5 years' time, you will have $ in the account. (Round to the nearest cent.)
Suppose you currently have $5,000 in your savings account, and your bank pays interest at a...
Suppose you currently have $5,000 in your savings account, and your bank pays interest at a rate of 0.5% per month. If you n how much will you have in the account in 5 years? In 5 years' time, you will have $ in the account. (Round to the nearest cent.)
M C CUNICU NU Tulure Value or savings account If you put $4,000 in a savings...
M C CUNICU NU Tulure Value or savings account If you put $4,000 in a savings account that pays Interest at the rate of 7 percent, compounded annually. a. how much will you have in three years? Round the answer to the nearest cent. Round PV-factor to three decimal places or use the Appendix A. (Hint: Use the future value formula.) b. how much interest will you earn during the three years? Round the answer to the nearest cent. c....
Show the excel formulas used and answer all questions
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...
Question 1 Suppose you make a monthly contribution of $6,000 to your savings account at the end of each month for five years. How much can be withdrawn at the end of five years, a) If your savings account earns 10% interest compounded monthly? b) If your savings account earns 10% interest compounded daily?
You have deposited your savings into an investment account each month. You are hoping to earn enough interest in order to make the down payment on a new car. If your account earns a nominal rate of 4% interest per year, then which compounding frequency will give you the highest future balance in your account over time? All of the above will give the same result if the nominal rate is always 4% Daily compounding Annual compounding Weekly compounding Monthly...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds interest annually, how much will you have in your account in four years? b. What would your balance be in four years if the bank used quarterly com- pounding rather than annual compounding? C. Suppose you deposited the $1,000 in four payments of $250 each year beginning one year from now. How much would you have in your account after...
You have a savings account that earns 5% Interest, compounded annually. A friend has offered you an investment opportunity, he says that if you invest In his new business, he will pay you $34,000 a year for the next five years. What is the maximum amount you would be willing to invest in your friend's business? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV...
Suppose you currently have $5,000 in your savings account, and your bank pays interest at a rate of 0.5% per month. If you n how much will you have in the account in 5 years? In 5 years' time, you will have $ in the account. (Round to the nearest cent.)
Suppose you currently have $5,000 in your savings account, and your bank pays interest at a rate of 0.5% per month. If you n how much will you have in the account in 5 years? In 5 years' time, you will have $ in the account. (Round to the nearest cent.)
M C CUNICU NU Tulure Value or savings account If you put $4,000 in a savings account that pays Interest at the rate of 7 percent, compounded annually. a. how much will you have in three years? Round the answer to the nearest cent. Round PV-factor to three decimal places or use the Appendix A. (Hint: Use the future value formula.) b. how much interest will you earn during the three years? Round the answer to the nearest cent. c....
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