Question

o   How much can be accumulated if $250 is deposited at the end of each month...

o   How much can be accumulated if $250 is deposited at the end of each month for the next 35 years and the account earns 6% APR (i.e. 0.5% per month).
0 0
Add a comment Improve this question Transcribed image text
Request Professional Answer

Request Answer!

We need at least 10 more requests to produce the answer.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)


All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
o   How much can be accumulated if $250 is deposited at the end of each month...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  • 5. Your broker promises that if you give her $15,000 today she will return $30,000 to...

    5. Your broker promises that if you give her $15,000 today she will return $30,000 to you in five years. To the nearest percent, what annual interest rate is being offered? 6. How much money would you have to put away at the end of each year to have $1,250,000 when you retire 42 years from now if you can earn 5% on your money? 7. How much can be accumulated if $500 per month is deposited for the next...

  • 2.) If you initial deposit $1500, and $250 is deposited at the end of each month....

    2.) If you initial deposit $1500, and $250 is deposited at the end of each month. The interest is at an annual nominal rate of 6% with monthly compounding. How much is on deposit after 2 year?

  • our broker promises that if you give her $15,000 today she will return $30,000 to you...

    our broker promises that if you give her $15,000 today she will return $30,000 to you in five years. To the nearest percent, what annual interest rate is being offered? 6. How much money would you have to put away at the end of each year to have $1,250,000 when you retire 42 years from now if you can earn 5% on your money? 7. How much can be accumulated if $500 per month is deposited for the next 35...

  • answers only please How much must be deposited at the beginning of each year an account...

    answers only please How much must be deposited at the beginning of each year an account that pays 7%, compounded annually so that the account will contain $32,000 at the end of 5 years? (Round your answer to the nearest cent) $ Need Help? What is the size of the payments that be deposited at the beginning of each 6-month period in an account that pays 5.2%, compounded semiannually, so that the account will have a future value of $140,000...

  • Sophie wants to deposit $440 at the end of each month into an investment account. At...

    Sophie wants to deposit $440 at the end of each month into an investment account. At the end of 5 years she wants to stop depositing and start withdrawing an equal amount at the end of each month for the next 4 years. The investment earns 6.0% compounded monthly. a. How much did Sophie have accumulated in five years? Round to the nearest cent E Activate Window SAVE PROGRESS SUBMIT ASS a. How much did Sophie have accumulated in five...

  • How much must be deposited at the end of each month for 9.5 years to accumulate...

    How much must be deposited at the end of each month for 9.5 years to accumulate to $3678.00 at 5% compounded monthly? The required deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

  • how much must be deposited

    how much must be deposited today into the following account in order to have $40,000 in 5 years for a down payment on a house? Asssume no additional deposits are made. An account with monthly compounding and an APR of 6%. how much should be deposited today?

  • c.)“Give me $10,000 today and I'll return $16,000 to you in five years," offers your investment...

    c.)“Give me $10,000 today and I'll return $16,000 to you in five years," offers your investment broker. To the nearest tenth of a percent, what annual interest rate is being offered? d.)How much money would you have to put away at the end of each year to have $1,600,000 when you retire 26 years from now if you can earn 4% on your money? e.)How much can be accumulated if $2,375 is deposited at the end of each month for...

  • 9- Sally deposited $250 a month in her savings account for 36 months. For the next...

    9- Sally deposited $250 a month in her savings account for 36 months. For the next 6 years she 2 made no deposits. What is the future worth in Sally's savings account at the end of the 9 years, A if the account earned 2% annual interest, compounded monthly?

  • How much interest is earned in an account by the end of 5 years if $30,000...

    How much interest is earned in an account by the end of 5 years if $30,000 is deposited and interest is 4% per year, compounded semi-annually? What is the balance in an account at the end of 10 years if $6,500 is deposited today and the account earns 3% interest compounded annually? If you wish to accumulate $50,000 in 10 years, how much must you deposit today in an account that pays annual interest rate of 8%, with semi-annual compounding...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT