Your bank will pay you an interest rate of .077 percent compounded weekly. You want to...
Your bank will pay you an interest rate of .077 percent compounded weekly. You want to have $20,000 in 6 years. How much will you have to deposit today? Assume 52 weeks per year.
Homework Answers
Annual interest rate = 0.077%
Weekly interest rate = 0.077% / 52
Weekly interest rate = 0.001481%
Future value = $20,000
Period = 6 years or 312 weeks
Present value = Future value / (1 + Weekly interest
rate)^Period
Present value = $20,000 * (1 / 1.00001481)^312
Present value = $20,000 * 0.995390
Present value = $19,907.80
So, you have to deposit today is $19,907.80
Add Answer to:
Your bank will pay you an interest rate of .077 percent
compounded weekly. You want to...
Your bank will pay you an interest rate of .137 percent compounded weekly. You want to...
Your bank will pay you an interest rate of .137 percent compounded weekly. You want to have $26,000 in 8 years. How much will you have to deposit today? Assume 52 weeks per year. $14,906.72 $24,213.38 $15,037.48 $14,992.67 $14,710.57
Your bank will pay you an interest rate of .127 percent per week. You want to...
Your bank will pay you an interest rate of .127 percent per week. You want to have $25,000 in 6 years. How much will you have to deposit today? Assume 52 weeks per year.
Your bank will pay you an interest rate of .112 percent per week. you want to...
Your bank will pay you an interest rate of .112 percent per week. you want to have $23,500 in 8 years. How much will you have to deposit today? Assume 52 weeks per year.
MC algo 5-20 Calculating Present Values Your bank will pay you an interest rate of 157...
MC algo 5-20 Calculating Present Values Your bank will pay you an interest rate of 157 percent compounded weekly. You want to have $28000 in 9 years How much will you have to deposit today? Assue 52 weeks per year Your bank will pay you an interest rate of 157 percent compounded weekly. You want to have $28,000 Multiple Choice 48 o ) $25,806.56 o $13,735.72 o $13,43712 o $13,616.28 o $13,816.99
help!!! Your bank will pay you an interest rate of .097 percent per week. You want...
help!!!
Your bank will pay you an interest rate of .097 percent per week. You want to have $22,000 in 10 years. How much will you have to deposit today? Assume 52 weeks per year Multiple Choice $13,465.52 $13,583.64 $13,449.62 $13.288.34 $20.918.35 A project will generate annual cash flows of $237,600 for each of the next three years, and a cash flow of $274,800 during the fourth yoar. The initial cost of the project is $763,600. What is the internal...
1. You are going to deposit $3,400 in an account that pays .40 percent interest compounded...
1. You are going to deposit $3,400 in an account that pays .40 percent interest compounded monthly. How much will you have in 5 years? a. $4,320.18 b. $4,337.46 c. $4,298.19 d. $4,324.50 e. $4,302.97 2. Your bank will pay you an interest rate of .102 percent per week. You want to have $22,500 in 10 years. How much will you have to deposit today? Assume 52 weeks per year. a. $13,418.45 b. $13,419.42 c. $13,536.16 d. $21,338.27 e. $13,241.89...
You want to save for your child’s college. Your child will start to college in 18...
You want to save for your child’s college. Your child will start to college in 18 years and you want to have $152698 at that time. You find a saving plan that will pay 6.0% compounded weekly (52 times per year). How much will you have to deposit weekly to accomplish this?
48. It’s Friday, and you decide to save your change from your pockets each day for...
48. It’s Friday, and you decide to save your change from your pockets each day for the coming week and, take the amount each Friday to save in the bank. If you save $20 a week for 10 years at 6 percent interest? Assume the first payment occurs at the end of the first week and that there are exactly 52 weeks in a year, how much will you have saved in 10 years? 49. The Hippie Food Store is...
You Save Bank has a unique account. If you deposit $5,750 today, the bank will pay...
You Save Bank has a unique account. If you deposit $5,750 today, the bank will pay you an annual interest rate of 6 percent for 3 years, 6.6 percent for 2 years, and 7.3 percent for 6 years. How much will you have in your account in 11 years?
Streamsong Credit Bank is offering 6.4 percent compounded daily on its savings accounts. Assume that you...
Streamsong Credit Bank is offering 6.4 percent compounded daily on its savings accounts. Assume that you deposit $6,100 today. Use 365 days in a year. a. How much will you have in the account in 3 years? b. How much will you have in the account in 6 years? c. How much will you have in the account in 12 years?
MC algo 5-20 Calculating Present Values Your bank will pay you an interest rate of 157 percent compounded weekly. You want to have $28000 in 9 years How much will you have to deposit today? Assue 52 weeks per year Your bank will pay you an interest rate of 157 percent compounded weekly. You want to have $28,000 Multiple Choice 48 o ) $25,806.56 o $13,735.72 o $13,43712 o $13,616.28 o $13,816.99
help!!!
Your bank will pay you an interest rate of .097 percent per week. You want to have $22,000 in 10 years. How much will you have to deposit today? Assume 52 weeks per year Multiple Choice $13,465.52 $13,583.64 $13,449.62 $13.288.34 $20.918.35 A project will generate annual cash flows of $237,600 for each of the next three years, and a cash flow of $274,800 during the fourth yoar. The initial cost of the project is $763,600. What is the internal...
Most questions answered within 3 hours.
-
Write the ionic equations for the first stage of salts
hydrolysis.
Anion, Cation?
Na2S
NiSO4
K2SO4...
asked 49 minutes ago -
suppose there is a normally distributed population with a mean of
250 and a standard deviation...
asked 1 hour ago -
Question Three
Suppose you as project manager are using the Waterfall
development methodology on a large...
asked 2 hours ago -
Which statement is not true about welfare in Canada?
A.Benefits typically vary based on one's ability...
asked 3 hours ago -
Please help me with FLOWCHART and UML diagram for class,
thank you!
#include <iostream>
#include <fstream>...
asked 3 hours ago -
3. Describe the “logic circuit” of the Lac operon. Which
proteins are bound or not to...
asked 3 hours ago -
Ayesha’s adjusted gross income is $60,000 in 2019. She donated a
piece of artwork with a...
asked 3 hours ago -
For Dijkstra’s shortest path algorithm:
a. Give the Big-O time for Dijkstra’s shortest path algorithm
and...
asked 4 hours ago -
Phosphorus violates the 'octet rule' in biological molecules,
forming more covalent bonds than expected based on...
asked 4 hours ago -
A 1.3 eV electron has a 10-4 probability of tunneling
through a 2.4 eV potential barrier....
asked 4 hours ago -
What is the one ingredient that is common to being successful
with all stakeholders?
profit
trust...
asked 4 hours ago -
Write an assembly language 32 bit program that reads in lines of
text by a .txt...
asked 4 hours ago