You deposit an equal amount "A" at the beginning of each year for the next 6...
You deposit an equal amount "A" at the beginning of each year for the next 6 years at a 10% interest rate, and then you stop. At the end of year 10, you withdraw all the money and get $3,250. Please determine "A".
Group of answer choices
$245.35
$261.125
$325.35
$261.53
Homework Answers
FV = $ 3250
i = 10%
A x (1 + 10%)10 + A x (1 + 10%)9 + .... + A x (1 + 10%)5 = 3250
A x 12.426 = 3250
A = $ 261.53
Add Answer to:
You deposit an equal amount "A" at the beginning of each year
for the next 6...
8-One year from now, you deposit $300 in a savings account. You deposit $1,800 the next...
8-One year from now, you deposit $300 in a savings account. You deposit $1,800 the next year. Then you wait two more years (until 4 years from now) and deposit $1,000. If your account always earns 6% annual interest and you make no withdrawals, how much will be in the account 11 years from now? 9-You deposit $5000 for 5 years at 4% annual interest. In 5 years, you add $15,000 to your account, but the rate on your account...
You deposit $5,000 per year at the end of each of the next 25 years into...
You deposit $5,000 per year at the end of each of the next 25 years into an account that pays 8% compounded annually. How much could you withdraw at the end of each of the 20 years following your last deposit if all withdrawals are the same dollar amount? (The twenty-fifth and last deposit is made at the beginning of the 20-year period. the first withdrawal is made at the end of the first year in the 20-year period. A....
How much money should be deposited each year for 13 years if you wish to withdraw...
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
Time Value of Money Calculation How much do you have to deposit today so that beginning...
Time Value of Money Calculation How much do you have to deposit today so that beginning 11 years from now you can withdraw $10,000 a year for the next 5 years (periods 11 through 15) plus an additional amount of $15,000 in that last year (period 15)? Assume an interest rate of 9%. Please show steps on how to work on calculator
In Year 0, you deposit $4,000 into an account with an interest rate of 4%. Three...
In Year 0, you deposit $4,000 into an account with an interest rate of 4%. Three years later, the interest rate increases to 6%. Four years after that, the interest rate drops to 5%. You plan to withdraw all the money at the end of Year 15. a. At the end of Year 2, how much money is in the account? b. At the end of Year 7, how much money is in the account? c. At the end of...
In Year 0, you deposit $5,000 into an account with an interest rate of 6%. Two...
In Year 0, you deposit $5,000 into an account with an interest rate of 6%. Two years later, the interest rate increases to 8%. Five years after that, the interest rate drops to 7%. You plan to withdraw all the money at the end of Year 15. a. At the end of Year 2, how much money is in the account? b. At the end of Year 7, how much money is in the account? c. At the end of...
If you deposit $2,300 at the end of each year for each of the next 20...
If you deposit $2,300 at the end of each year for each of the next 20 years into your account which pays 9% interest, how much money will you have in 20 years? Show your work.
Case 2: By the end of each year, you contribute an equal amount of $3,300 per...
Case 2: By the end of each year, you contribute an equal amount of $3,300 per year to your retirement fund portfolio, which earns an annual nominal return of 11.25% averagely in the long term. The annual contribution continues for 36 years until you retire. (Note: All tax concerns are ignored.) (a) Ignoring the annual inflation. By the time of your retirement, how much nominal money value would you have in your portfolio? (b) Again, ignoring the annual inflation. For...
If you deposit $5,000 at the end of each year for the next 20 years into...
If you deposit $5,000 at the end of each year for the next 20 years into an account paying 10.1% interest, how much money will you have in the account in 20 years? How much will you have if you make deposits for 40 years?
(Present value of complex cash flows) How much do you have to deposit today so that...
(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $13,000 a year for the next 5 years (periods 11 through 15) plus an additional amount of $26,000 in the last year (period 15)? Assume an interest rate of 6 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.)
8-One year from now, you deposit $300 in a savings account. You deposit $1,800 the next year. Then you wait two more years (until 4 years from now) and deposit $1,000. If your account always earns 6% annual interest and you make no withdrawals, how much will be in the account 11 years from now? 9-You deposit $5000 for 5 years at 4% annual interest. In 5 years, you add $15,000 to your account, but the rate on your account...
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
In Year 0, you deposit $5,000 into an account with an interest rate of 6%. Two years later, the interest rate increases to 8%. Five years after that, the interest rate drops to 7%. You plan to withdraw all the money at the end of Year 15. a. At the end of Year 2, how much money is in the account? b. At the end of Year 7, how much money is in the account? c. At the end of...
(Present value of complex cash flows) How much do you have to deposit today so that beginning 11 years from now you can withdraw $13,000 a year for the next 5 years (periods 11 through 15) plus an additional amount of $26,000 in the last year (period 15)? Assume an interest rate of 6 percent. The amount of money you have to deposit today is $ (Round to the nearest cent.)
Most questions answered within 3 hours.
-
The x component of the velocity of an object vibrating
along the x-axis obeys the equation...
asked 1 hour ago -
A junction box contains two trade size 2 raceways on the left
side, and two trade...
asked 1 hour ago -
Atmospheric Mass
Venus and Earth have about the same mass and radius, but the
atmospheric pressure...
asked 2 hours ago -
5. Discuss the use of fault tree analysis (FTA) for risk
assessment (maximum one paragraph).
asked 3 hours ago -
Given that a sample of aluminium oxide has a Young's modulus of
393 GPa and a...
asked 4 hours ago -
At a certain temperature, the equilibrium constant, Kc, for this
reaction is 53.3.
H2(g)+I2(g)−⇀↽−2HI(g)Kc=53.3
At this...
asked 6 hours ago -
Question1 ) The STL provides similiar classes called stack and
queue, both of which gave functions...
asked 7 hours ago -
For Questions 1-4, assume you have 5 bits available:
1. For (positive) integers: What is the...
asked 7 hours ago -
convert grams into vloume with the density of water being at
.997514 g/cm^3 at 23.1 Celsuis...
asked 9 hours ago -
Foreman company obtained a $20,000, 6% loan on May 1, 2018.
Principal and interest will be...
asked 9 hours ago -
5. Problem 11.05 (Discounted Payback)
eBook
Project L costs $60,000, its expected cash inflows are $14,000
per...
asked 9 hours ago -
1. Which of the following is true about politics and health
organizations?
A. Health organizations are...
asked 10 hours ago