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Find the future value of $10,000 placed in an account earning 82% per year for...
Fill this You deposit $300 in an account earning 4% compound interest for 3 years. Find...
Fill this
You deposit $300 in an account earning 4% compound interest for 3 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places if necessary. PY C/Y N I/Y Frequency Annually: Semiannually: % Quarterly: % Monthly: Daily: % Frequency PV PMT FV Interest Earned Annually: $ $ $ Semiannually: $ $ $ Quarterly: $ $ $ Monthly: $ $ $ $ Daily: $ $ $ $
A current value of $50,000 is held in an account earning 12% APR. Equal payments are...
A current value of $50,000 is held in an account earning 12% APR. Equal payments are to be paid out quarterly until the account is depleted after 8 years. How much would the equal quarterly payments be under each of the following interest compounding scenarios? (Hint: first find the effective interest for each scenario to the nearest 10,000th of a percent. Then, find the value of the equal payments to the nearest $0.01.) A. 12% APR Compounded Quarterly (4 quarters...
Problem 1 Part A: What is the future worth an investment, before taxes, if $10,000 is...
Problem 1 Part A: What is the future worth an investment, before taxes, if $10,000 is placed in a savings account for 10 years, earning a nominal interest rate of 6%year compounded monthly? Part B: How many years will be required for the original principle amount to double in value? For Part B, assume biannual interest compounding is applied with the same nominal interest rate of 6%/year. Part C: What is the shortest time in years to double the original...
Show the excel formulas used Ex. 1 You have $5,000 in your savings account that pays...
Show the excel formulas used
Ex. 1 You have $5,000 in your savings account that pays 4% interest. How much will you have in your account after 20 years, a) if your bank pays annually compounded interest? b) if your bank pays monthly compounded interest? c) if your bank pays daily compounded interest? Current balance Interest Years Compounding Annually Monthly Daily a) FV b) FV c) FV Ex. 2 If you need $10,000 in 7 years and you can earn...
Suppose $10,000 is deposited into a savings account earning 2% interest compounded quarterly. Find the balance...
Suppose $10,000 is deposited into a savings account earning 2% interest compounded quarterly. Find the balance in the account 5 years, rounded to the nearest cent. Use one of the formulas below to solve the problem. Future Value: Present Value: A = P (143) P = (1+ht $14,859.47 $51 097.53
Ali contributed $1,500 per year for the past 8 years into an RRSP account, earning 3.8%...
Ali contributed $1,500 per year for the past 8 years into an RRSP account, earning 3.8% compounded annually. If he leaves the accumulated contributions for another 5 years in the RRSP at the same rate of interest, a) How much will Ali have in total in his RRSP account? b) How much did Ali contribute? c) How much will be the interest?
8. Problem 5.15 (Present Value of an Annuity) eBook Find the present values of these ordinary...
8. Problem 5.15 (Present Value of an Annuity) eBook Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. $200 per year for 16 years at 6%. b. $100 per year for 8 years at 3%. C. $200 per year for 8 years at 0%. d. Rework previous parts assuming they are annuities due. Present value of $200 per year for 16 years at...
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 solve these i. You deposit $6000 in an account earning 2% interest compounded monthly. How...
Please solve these i. You deposit $6000 in an account earning 2% interest compounded monthly. How much will you have in the account in 10 years? ii. Find the time required for an investment of 5000 dollars to grow to 7900 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places Your answer is t= iii. You currently have $2,800 (Present Value) in an account that has an interest rate of...
QUESTION 2 You deposit $10,000 in an account earning 5% interest compounded weekly. How much will...
QUESTION 2 You deposit $10,000 in an account earning 5% interest compounded weekly. How much will you have in the account after 17 years? How much of the amount was interest earned?
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You deposit $300 in an account earning 4% compound interest for 3 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places if necessary. PY C/Y N I/Y Frequency Annually: Semiannually: % Quarterly: % Monthly: Daily: % Frequency PV PMT FV Interest Earned Annually: $ $ $ Semiannually: $ $ $ Quarterly: $ $ $ Monthly: $ $ $ $ Daily: $ $ $ $
Problem 1 Part A: What is the future worth an investment, before taxes, if $10,000 is placed in a savings account for 10 years, earning a nominal interest rate of 6%year compounded monthly? Part B: How many years will be required for the original principle amount to double in value? For Part B, assume biannual interest compounding is applied with the same nominal interest rate of 6%/year. Part C: What is the shortest time in years to double the original...
Show the excel formulas used
Ex. 1 You have $5,000 in your savings account that pays 4% interest. How much will you have in your account after 20 years, a) if your bank pays annually compounded interest? b) if your bank pays monthly compounded interest? c) if your bank pays daily compounded interest? Current balance Interest Years Compounding Annually Monthly Daily a) FV b) FV c) FV Ex. 2 If you need $10,000 in 7 years and you can earn...
Suppose $10,000 is deposited into a savings account earning 2% interest compounded quarterly. Find the balance in the account 5 years, rounded to the nearest cent. Use one of the formulas below to solve the problem. Future Value: Present Value: A = P (143) P = (1+ht $14,859.47 $51 097.53
8. Problem 5.15 (Present Value of an Annuity) eBook Find the present values of these ordinary annuities. Discounting occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. $200 per year for 16 years at 6%. b. $100 per year for 8 years at 3%. C. $200 per year for 8 years at 0%. d. Rework previous parts assuming they are annuities due. Present value of $200 per year for 16 years at...
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...
QUESTION 2 You deposit $10,000 in an account earning 5% interest compounded weekly. How much will you have in the account after 17 years? How much of the amount was interest earned?
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