6 Suppose you deposited on amount o p in a bank squings account today. at 3%...
Suppose you want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today make that happen? You can use the following formula, which is known as the present value formula, to find out: P = F / (1+ r)^n The terms in...
please help with questions 14-15 and 16...
14-what will $9000 deposited into a bank today be worth 6 years from now assuming you earn 5% interest? 15- what will the $3000 you deposit EVERY year (annually) be worth at the end of 20 years assuming you earn 6%? 16-if you are promised $80,000 to be received 6 years from now, assuming 5% interest, what amount would you accept today instead of the future payment?
A sum of $5000 is deposited in a bank today. What will the final amount be in 20 months if the bank pays 9% and the interest is compounded monthly?
Suppose that you deposited $461.26 in a bank account last year that earns 7.04%. How much will you have $ on deposit in another five years? Round your answer to two decimal places.
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.)
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...
How much money should be deposited today in an account that earns 5% compounded semiannually so that it will accumulate to $8000 in three years? The amount of money that should be deposited is $ (Round up to the nearest cent.) You deposit $14,000 in an account that pays 5% interest compounded quarterly A. Find the future value after one year B. Use the future value formula for simple interest to determine the effective annual yield. A. The future value...
$5,000 is deposited today into a bank account. The account earns 4.5% per annum compounded half yearly for the first 6 years, then 4.8% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made, (a) Calculate the account balance six months from today. (b) Calculate the account balance 6 years from today. (c) Calculate the account balance 6.5 years from today. (d) Calculate the account balance 10 years from today.
Kavin deposited 30,000 into a saving account today and will keep this amount for five years. This account earns 10% interest compounded annually. What will be the balance in this account be at the end of 5th year?
Suppose that today you deposit the amount of $550 in a bank. How much would the deposit grow to at the end of year 16 if the interest rate is 7.00%? $ Place your answer in dollars and cents. Do not include a dollar sign or comma in your answer. Work your analysis with at least four decimal places of accuracy.