Homework Answers
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So,
2000 = 1000 + (1000*9*3)/100 + x + (2*9*(18/12)/100)
x = 146,000 / 227 = $643.17
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Question 21 (1 point) You would like to save $2000 for a trip at the end...
1. You would like to save $70 000 in 10 years. To accumulate this amount, you...
1. You would like to save $70 000 in 10 years. To accumulate this amount, you plan to make a regular deposit with an equal amount of cash into a saving account at the end of each year. This account will earn 6% p.a interest compounded annually. Your first payment will be made at the end of this year. a. How much must you deposit annually to accumulate this amount in 10 years? b. If you decide to make a...
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Module 4 Hand- in Assignment a. 1. You deposit $1000 into a bank account that pays...
Module 4 Hand- in Assignment a. 1. You deposit $1000 into a bank account that pays 10% simple. How much interest would you earn if: You left the money in for 6 years. b. You left the money in for 9 months. c. Your deposit was on April 6 and you withdrew the money on December 23 the same year d. You made a deposit October 28, and withdrew the money September 21, the next year. 2. 18 months ago...
1. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in...
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...
1.Next summer you are planning a trip to Ibiza that will set you back roughly $4100....
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Moving to another question will save this response Question 3 of 22 Question 3 10 points...
Moving to another question will save this response Question 3 of 22 Question 3 10 points Save Answer Your older sister deposited $5,000 today at 7 percent interest for 5 years. You would like to have just as much money at the end of the next 5 years as your sister will have. However, you can only earn 8.75 percent interest. How much more (less) money must you deposit today than your sister dad if you are to have the...
Un July 1, a man borrowed $2000 at 6% simple interest. He paid $500 on August...
Un July 1, a man borrowed $2000 at 6% simple interest. He paid $500 on August 30 and $600 on September 29. Find the balance on October 29 of the same year. A man owes $100, due in two months, and $400, due in eight months. His creditors have agreed to settle his debts by two equal payments in four months and ten months, respectively. Find the size of each payment if the rate of interest is 6% and the...
Please answer all If you can't answer all then please don't answer just one question. i...
Please answer all If you can't answer all then please don't answer just one question. i need all 2. You would like to buy a house in in 16 years and estimate that you will need a deposit of $73,014. You plan to make bi-weekly deposits into an account that you hope will earn 7.05%. How much do you have to deposit every two weeks? 3. You have accumulated $1,085.55 in debt by buying things on Amazon during quarantine. The minimum...
Question 10 (1 point) You estimate you will need $5,000 for you vacation next year. How...
Question 10 (1 point) You estimate you will need $5,000 for you vacation next year. How much should you deposit today if your vacation will be in 18 months and your investments will earn 14 = 9%
1. You would like to save $70 000 in 10 years. To accumulate this amount, you plan to make a regular deposit with an equal amount of cash into a saving account at the end of each year. This account will earn 6% p.a interest compounded annually. Your first payment will be made at the end of this year. a. How much must you deposit annually to accumulate this amount in 10 years? b. If you decide to make a...
You decide to save for your dream vacation to Europe (London, Paris, and Rome). You want to be able to travel in 9 years. If you believe your trip will cost $5,845 and you can earn 9.2 percent annual interest on your savings, how much must you deposit today so you can afford your trip in 9 years? DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR.
Module 4 Hand- in Assignment a. 1. You deposit $1000 into a bank account that pays 10% simple. How much interest would you earn if: You left the money in for 6 years. b. You left the money in for 9 months. c. Your deposit was on April 6 and you withdrew the money on December 23 the same year d. You made a deposit October 28, and withdrew the money September 21, the next year. 2. 18 months ago...
Moving to another question will save this response Question 3 of 22 Question 3 10 points Save Answer Your older sister deposited $5,000 today at 7 percent interest for 5 years. You would like to have just as much money at the end of the next 5 years as your sister will have. However, you can only earn 8.75 percent interest. How much more (less) money must you deposit today than your sister dad if you are to have the...
Un July 1, a man borrowed $2000 at 6% simple interest. He paid $500 on August 30 and $600 on September 29. Find the balance on October 29 of the same year. A man owes $100, due in two months, and $400, due in eight months. His creditors have agreed to settle his debts by two equal payments in four months and ten months, respectively. Find the size of each payment if the rate of interest is 6% and the...
Question 10 (1 point) You estimate you will need $5,000 for you vacation next year. How much should you deposit today if your vacation will be in 18 months and your investments will earn 14 = 9%
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