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You are saving for a down payment on an apartment. Every 6 months you plan to...
You just graduated from college and decide to start saving for a down payment to buy...
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You estimate you will need $20,000 in 5 years for the down payment. (Note: a down payment is a deposit a home buyer must make in order to get a mortgage loan from a bank to buy the house.) 3a. Assume you can earn 6% interest (APR) on your savings, and you make a deposit in your savings...
In order to buy a house you want to accumulate a down payment of $15,000. You...
In order to buy a house you want to accumulate a down payment of $15,000. You can do that by putting a certain sum of money every month in a savings account for the next four years. The account credits interest at the rate of six percent. What is your required monthly deposit? Relevant Periods= Relevant Rate= Deposit Amount=
Suppose you start saving today for a $40,000 down payment that you plan to make on...
Suppose you start saving today for a $40,000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $40,000 goal in 5 years. An account with daily compounding and an APR of 7% You should invest $ (Do not round until the final answer. Then round to two...
3. a) b) You plan to save money for a down payment of $42,000 to purchase...
3.
a)
b)
You plan to save money for a down payment of $42,000 to purchase an apartment. You can only afford to save $1,250 at the end of every quarter int an account that earns interest at 4.50% compounded annually. How long wil it take you to save the planned amount? months O years Express the answer in years and months, rounded to the next payment period Lush Gardens Co. bought a new truck for $54,000. It paid $4,860...
Justin is saving for his retirement 22 years from now by setting up a savings plan....
Justin is saving for his retirement 22 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $119.00 at the end of every three months for the next 15 years. Interest is 10% compounded quarterly (a) How much money will be in his account on the date of his retirement? (b) How much will Justin contribute? (c) How much will be interest?
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You est...
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You estimate you will need $20,000 in 5 years for the down payment. (Note: a down payment is a deposit a home buyer must make in order to get a mortgage loan from a bank to buy the house.) 1. Assume you can earn 6% interest (APR) on your savings, and you want to make a single deposit...
Answer Question 5 (1 point) You decide to begin saving for your retirement. Each month you...
Answer Question 5 (1 point) You decide to begin saving for your retirement. Each month you will deposit $400 in to an account that earns J12 = 10%. How much money will you have in 6 years if your first payment in one month? Your Answer: Answer Question 6 (1 point) You decide to begin saving for a vacation. Each month you will deposit $250 in to a account that earns J12 = 10%. How much interest will you earn...
What is the value today of a money machine that will pay $1,417.00 every six months...
What is the value today of a money machine that will pay $1,417.00 every six months for 27.00 years? Assume the first payment is made six months from today and the interest rate is 11.00%. What is the value today of a money machine that will pay $4,146.00 per year for 35.00 years? Assume the first payment is made today and that there are 35.0 total payments. The interest rate is 6.00%. Derek will deposit $3,988.00 per year for 19.00...
6 a. You plan to make 5 deposits of $1,000 each, one every 6 months, with...
6
a. You plan to make 5 deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 5 % nominal interest, compounded semiannually,how much will be in your account after 3 years? Round your answer to two decimal places at the end of the calculations. For example, if your answer is $345.667 enter as 345.67 and if your answer is .05718 or...
30. You plan to make five deposits of $1,000 each, one every 6 months, with the...
30. You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 6% nominal interest, compounded semiannually, how much will be in your account after 3 years? Do not round intermediate calculations. Round your answer to the nearest cent. $ One year from today you must make a payment of $9,000. To prepare for this payment, you plan...
Suppose you start saving today for a $40,000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $40,000 goal in 5 years. An account with daily compounding and an APR of 7% You should invest $ (Do not round until the final answer. Then round to two...
3.
a)
b)
You plan to save money for a down payment of $42,000 to purchase an apartment. You can only afford to save $1,250 at the end of every quarter int an account that earns interest at 4.50% compounded annually. How long wil it take you to save the planned amount? months O years Express the answer in years and months, rounded to the next payment period Lush Gardens Co. bought a new truck for $54,000. It paid $4,860...
Answer Question 5 (1 point) You decide to begin saving for your retirement. Each month you will deposit $400 in to an account that earns J12 = 10%. How much money will you have in 6 years if your first payment in one month? Your Answer: Answer Question 6 (1 point) You decide to begin saving for a vacation. Each month you will deposit $250 in to a account that earns J12 = 10%. How much interest will you earn...
6
a. You plan to make 5 deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. You will then make no more deposits. If the bank pays 5 % nominal interest, compounded semiannually,how much will be in your account after 3 years? Round your answer to two decimal places at the end of the calculations. For example, if your answer is $345.667 enter as 345.67 and if your answer is .05718 or...
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