Suppose you will need $53,000 in 11 years. If your bank compounds interest at an annual...
Suppose you will need $53,000 in 11 years. If your bank compounds interest at an annual rate of 9%, how much will you need to deposit into your account 2 year(s) from now to reach your goal? Enter your answer rounded to two decimal places.
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Suppose you will need $53,000 in 11 years. If your bank
compounds interest at an annual...
Your goal is to have $17,500 in your bank account by the end of eight years....
Your goal is to have $17,500 in your bank account by the end of eight years. If the interest rate remains constant at 9% and you want to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.) If your deposits were made at the beginning of each year rather than an at the end, by...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds int...
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...
Suppose your retirement goal is to accumulate $500 in 4.5 years. How much do you need...
Suppose your retirement goal is to accumulate $500 in 4.5 years. How much do you need to deposit in the bank today to meet your goal if the bank offers an simple interest rate 4.15%. $ You should set your calculator for at least four decimal places of accuracy. Place your answer in dollars and cents. Do not include a dollar sign or comma in your answer
Your annual salary at the beginning of the year was $53,000. During the year you received...
Your annual salary at the beginning of the year was $53,000. During the year you received raises totaling $1,500. During the same year, the rate of inflation was 2.9%. Taking into account your raise and the rate of inflation, how much did your purchasing power change during the year? Enter your answer as a percentage rounded to two decimal places (e.g., enter -1.34%, NOT -0.0134).
PLEASE ANSWER THIS TWO QUESTION THANK YOU Your parents will retire in 27 years. They currently...
PLEASE ANSWER THIS TWO QUESTION THANK
YOU
Your parents will retire in 27 years. They currently have $380,000 saved, and they think they will need $2,350,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. You have $36,948.61 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $280,000....
11-16 I need help quick 9. You are offered an annuity that will pay $24,000 per...
11-16 I need help quick
9. You are offered an annuity that will pay $24,000 per year for 11 years (the first payment will occur one year from today). If you feel that the appropriate discount rate is 13%, what is the annuity worth to you today? AnnPay - 24,000 DR = 13 S 134PMT -24,00 world tried It Yrs 86-59 CK NO 1 FV-O Current value of annuity in 136,486.59 10. If you deposit $16,000 per year for 12...
Suppose you have 25 years until you retire, and that you desire a retirement nest-egg of...
Suppose you have 25 years until you retire, and that you desire a retirement nest-egg of $2,500,000 on the day you retire. Suppose also that you’ve saved $100,000 toward your retirement so far, and that your investment account earns a nominal rate of 7.5% per year, compounded monthly. In addition, suppose you expect a windfall inheritance of $200,000 five years from now that you will invest in this account. a) What is the effective interest rate, or annual percentage yield,...
Please explain how they got 2.25% Suppose you are trying to save money for a vacation in two years. Bank A is offering s...
Please explain how they got
2.25%
Suppose you are trying to save money for a vacation in two years. Bank A is offering savings account with annual interest rate 2%. You are pretty sure interest rates will go up and next year savings account will pay 2.5%. Bank B is offering a two-year time deposit (CD). That is, if you deposit money now you can't withdraw for 2 years. How much annual interest on time-deposit accounts should Bank B offer...
1. Your goal is to have $20,000 in your bank account by the end of nine...
1. Your goal is to have $20,000 in your bank account by the end of nine years. If the interest rate remains constant at 10% and you want to make annual identical deposits, you'll have to deposit -----? into your account at the end of each year to reach your goal. 2. If your deposits were made at the beginning of each year rather than an at the end, the amount of your deposit would change by ----? if you...
7. Calculate annuity cash flows Your goal is to have $10,000 in your bank account by...
7. Calculate annuity cash flows Your goal is to have $10,000 in your bank account by the end of eight years. If the interest rate remains constant at 10% and you want to annual identical deposits, you'll have to deposit into your account at the end of each year to reach your goal. If your deposits were made at the beginning of each year rather than an at the end, the amount of your deposit would change by still wanted...
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...
PLEASE ANSWER THIS TWO QUESTION THANK
YOU
Your parents will retire in 27 years. They currently have $380,000 saved, and they think they will need $2,350,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. You have $36,948.61 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $280,000....
11-16 I need help quick
9. You are offered an annuity that will pay $24,000 per year for 11 years (the first payment will occur one year from today). If you feel that the appropriate discount rate is 13%, what is the annuity worth to you today? AnnPay - 24,000 DR = 13 S 134PMT -24,00 world tried It Yrs 86-59 CK NO 1 FV-O Current value of annuity in 136,486.59 10. If you deposit $16,000 per year for 12...
Please explain how they got
2.25%
Suppose you are trying to save money for a vacation in two years. Bank A is offering savings account with annual interest rate 2%. You are pretty sure interest rates will go up and next year savings account will pay 2.5%. Bank B is offering a two-year time deposit (CD). That is, if you deposit money now you can't withdraw for 2 years. How much annual interest on time-deposit accounts should Bank B offer...
7. Calculate annuity cash flows Your goal is to have $10,000 in your bank account by the end of eight years. If the interest rate remains constant at 10% and you want to annual identical deposits, you'll have to deposit into your account at the end of each year to reach your goal. If your deposits were made at the beginning of each year rather than an at the end, the amount of your deposit would change by still wanted...
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