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