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How much would you need to deposit in an account now in order to have $6000...
How much would you need to deposit in an account now in order to have $5000 in the account in 5 years? Assume the account earns 3% interest compounded monthly.
9. How much would you need to deposit in an account now in order to have $6,000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. 13. Jose has determined he needs to have $800,000 for retirement in 30 years. His account earns 6% interest. a. How much would he need to deposit in the account each month? b. How much total money will he put into the account? c. How much total interest will...
1. How much would you need to deposit in an account now in order to have $5000 in the account in 15 years? Assume the account earns 5% interest compounded monthly. 2. You currently have $7,700 (Present Value) in an account that has an interest rate of 3% per year compounded quarterly (4 times per year). You want to withdraw all your money when it reaches $18,480 (Future Value). In how many years will you be able to withdraw all...
How much would you need to deposit in an account each month in order to have $30,000 in the account in 9 years? Assume the account earns 2.5% interest. Round your answer to the nearest cent as needed.
You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 years?
i. You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 years? ii. Suppose you want to have $400,000 for retirement in 20 years. Your account earns 8% interest. How much would you need to deposit in the account each month?
How much must you deposit each year into your retirement account starting now and continuing through year 10 if you want to be able to withdraw $75,000 per year forever beginning 30 years from now? Assume the account earns interest at 15% per year.
How much must you deposit each year into your retirement account starting now and continuing through year 14 if you want to be able to withdraw $90,000 per year forever, beginning 28 years from now? Assume the account earns interest at 15% per year. The amount to be deposited is determined to be $ ____?
8-One year from now, you deposit $300 in a savings account. You deposit $1,800 the next year. Then you wait two more years (until 4 years from now) and deposit $1,000. If your account always earns 6% annual interest and you make no withdrawals, how much will be in the account 11 years from now? 9-You deposit $5000 for 5 years at 4% annual interest. In 5 years, you add $15,000 to your account, but the rate on your account...
1. You deposit $400 each month into an account earning 7% interest compounded monthly. a) How much will you have in the account in 35 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn? $ 2. Suppose you want to have $300,000 for retirement in 35 years. Your account earns 8% interest. a) How much would you need to deposit in the account each month? $ b)...