Question 16 (1 point) How much money would you have at the end of five years...
Consider the scenario where you will make semi-annual deposits (i.e. deposits are made at the end of each six month period) of $6,000 for the next five years. How much money will you have accumulated at the end of this five year period if the interest rate is: a. [1 point] 6% compounded monthly b. [1 point] 4% compounded weekly b. [1 point] 4% compounded weekly
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
You want to have $282,000.00 when you retire 28 years for an annuity. How much money should be deposited at the end of monthly in an investment plan that pays 6.8% compounded monthly, so you will have the $282,000.00 in 28 years? The monthly payments need to be $. (Round to 2 decimal places.)
how much more would you need to deposit at end of every month to accumulate $287500 over 18 years if the interest rate earned is 4.5% compounded annually instead of 4.5% compounded monthly?
Show how to enter into EXCEL 1. You have decided to place $153 in equal deposits every month at the beginning of the month into a savings account earning 4.69 percent per year, compounded monthly for the next 15 years. The first deposit is made today. How much money will be in the account at the end of that time period? Round the answer to two decimal places 2. What is the present value of the following annuity? $4,765 every...
Suppose I have an annual gross income of $60,000. I want to invest 8% each month and my employer will match 4%. Liberty Mutual offers 3% annual interest compounded monthly. (14) How much money will be invested each month? (15) Now, in January the first investment is made with the amount you found in #14. How much is in the account at the end of 1 year based on this initial investment? (16) In February, a second investment is made...
3. a) b) Victoria invested her savings in a bank at 2.75% compounded monthly. How much money did she invest to enable withdrawals of $3,000 at the beginning of every 6 months from the investment for 8 years, if the first withdrawal is to be made in 12 years? Round to the nearest cent How much would a business have to invest in a fund to receive $13,000 at the end of every month for 5 years? The fund has...
You plan to buy the house of your dreams in 18 years. You have estimated that the price of the house will be $115,506 at that time. You are able to make equal deposits every month at the end of the month into a savings account at an annual rate of 4.17 percent, compounded monthly. How much money should you place in this savings account every month in order to accumulate the required amount to buy the house of your...
(1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4% compounded monthly? Answer $ b) How much will you have after 25 years if you put $1200 per month in the account that instead earns 5% compounded monthly? Answer $ (1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4%...
1. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in a savings plan earning 6% compounded monthly. If you want to withdraw $4,000 at the beginning of each month, how long before the savings plan is exhausted? 2. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in a savings plan earning 6% compounded monthly. If you want the plan to last 40 years, how much can you withdraw...