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You are planning to deposit $100 in an account earning 6% interest rate. a. How much...
You are planning to deposit $100 in an account earning 6% interest rate. a. How much money do you have at the end of three years if interest is compounded annually? b. How much money do you have at the end of three years if interest is compounded semiannually? c. How much money do you have at the end of three years if interest is compounded quarterly? d. How much money do you have at the end of three years...
please answer question #2 better picture of the question ENGR 3970 Homework Assignment #2, Fall 2019...
please answer question #2
better picture of the question
ENGR 3970 Homework Assignment #2, Fall 2019 - Due Mon Sep 23 in Class Note: Show all of your work to arrive at a final result. 1) Using the amounts in the table below and an interest rate of 8% compounded annually, determine (a) the equivalent present amount (b) the equivalent annual amount Use the gradient conversion factor, if and where applicable, for full credit. EOY Deposit 1000 1000 1000 1000...
8.3-8.6. Using the Finance Formulas potage 2 of 21 15. Suppose you invest $5,000 in a...
8.3-8.6. Using the Finance Formulas potage 2 of 21 15. Suppose you invest $5,000 in a savings account that pays an annual interest rate of 4%. If the interest is compounded monthly, what is the balance in the account after 10 years? 16. You invest $5000 at 2.2% annual interest compounded quarterly. How much do you have after 5 years? 17. Against expert advice, you begin your retirement savings at age 40. You plan on retiring at age 65. How...
Exercise A3-20 (Algorithmic) Future Values of an Annuity Use Future Value Tables or your calculator to...
Exercise A3-20 (Algorithmic) Future Values of an Annuity Use Future Value Tables or your calculator to complete the requirements below. On December 31, 2020, you sign a contract to make annual deposits of $5,200 in an investment account that earns 10%. The first deposit is made on December 31, 2020. Required: 1. Calculate what the balance in this investment account will be just after the seventh deposit has been made if interest is compounded annually. Round your answer to the...
please answer these within aboit 30-50 min thank you! QUESTION 3 Incorrect Mark 0.00 out of 1.00 P Flag ques...
please answer these within aboit 30-50 min
thank you!
QUESTION 3 Incorrect Mark 0.00 out of 1.00 P Flag question Future Value Computation You deposit $3,000 at the end of every year for three years. How much will accumulate in three years if you earn 8% compounded annually? Use Excel or a financial calculator for computation. Round your answer to the nearest dollar. $ 10,518 Check QUESTION 4 Not complete Marked out of 1.00 P Flag question Present Value Computation...
1. You won $100 000 in a lottery and you want to set some of that...
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...
n1 Use the model A - Pe" or A-P where A is the future value of...
n1 Use the model A - Pe" or A-P where A is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $10,000 in an account with interest compounded continuously at 2.2%. How long will it take for him to earn $2000? Round to the nearest month. It will take approximately years and months for him to earn $2000. where A is the future value of P dollars...
please answer and explain Homework! Chapter 5 Homework Save Score: 0 of 1 pt 1 of...
please answer and explain
Homework! Chapter 5 Homework Save Score: 0 of 1 pt 1 of 12 (5 complete) HW Score: 25%, 3 of 12 pts P5-2 (similar to) IE Question Help Periodic interest rates. You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.045%, a weekly compounded rate of 0.325%, a monthly compounded rate of 1.15%,...
Use an online savings calculator or another computational device to assist you in answering this question...
Use an online savings calculator or another computational device to assist you in answering this question You invest $1700 in an account that pays 6% compounded annually. What is the balance after two years? The balance after two years is $
Exercise A3-14 Future Values and Long-Term Investments Use Future Value Tables or your calculator to complete...
Exercise A3-14 Future Values and Long-Term Investments Use Future Value Tables or your calculator to complete the requirement below. Portman Corporation engaged in the following transactions during 2020: On January 1, 2020, Portman deposited $12,000 in a certificate of deposit paying 6% interest compounded semiannually (3% per 6-month period). The certificate will mature on December 31, 2023. On January 1, 2020, Portman established an account with Lee County Bank. Portman will make quarterly payments of $2,500 to Lee beginning on...
please answer question #2
better picture of the question
ENGR 3970 Homework Assignment #2, Fall 2019 - Due Mon Sep 23 in Class Note: Show all of your work to arrive at a final result. 1) Using the amounts in the table below and an interest rate of 8% compounded annually, determine (a) the equivalent present amount (b) the equivalent annual amount Use the gradient conversion factor, if and where applicable, for full credit. EOY Deposit 1000 1000 1000 1000...
8.3-8.6. Using the Finance Formulas potage 2 of 21 15. Suppose you invest $5,000 in a savings account that pays an annual interest rate of 4%. If the interest is compounded monthly, what is the balance in the account after 10 years? 16. You invest $5000 at 2.2% annual interest compounded quarterly. How much do you have after 5 years? 17. Against expert advice, you begin your retirement savings at age 40. You plan on retiring at age 65. How...
please answer these within aboit 30-50 min
thank you!
QUESTION 3 Incorrect Mark 0.00 out of 1.00 P Flag question Future Value Computation You deposit $3,000 at the end of every year for three years. How much will accumulate in three years if you earn 8% compounded annually? Use Excel or a financial calculator for computation. Round your answer to the nearest dollar. $ 10,518 Check QUESTION 4 Not complete Marked out of 1.00 P Flag question Present Value Computation...
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...
n1 Use the model A - Pe" or A-P where A is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $10,000 in an account with interest compounded continuously at 2.2%. How long will it take for him to earn $2000? Round to the nearest month. It will take approximately years and months for him to earn $2000. where A is the future value of P dollars...
please answer and explain
Homework! Chapter 5 Homework Save Score: 0 of 1 pt 1 of 12 (5 complete) HW Score: 25%, 3 of 12 pts P5-2 (similar to) IE Question Help Periodic interest rates. You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.045%, a weekly compounded rate of 0.325%, a monthly compounded rate of 1.15%,...
Use an online savings calculator or another computational device to assist you in answering this question You invest $1700 in an account that pays 6% compounded annually. What is the balance after two years? The balance after two years is $
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