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How much would your parents have to deposit each month into an account that grows at...
How much would your parents have to deposit each month into an account that grows at...
How much would your parents have to deposit each month into an account that grows at a rate of 9% per year compounded semi-annually if they want to have $66,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ 6990.7 each month.
Problem 04.048 Equivalence When PP < CP How much would your parents have to deposit each...
Problem 04.048 Equivalence When PP < CP How much would your parents have to deposit each month into an account that grows at a rate of 6% per year compounded quarterly if they want to have $76,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ each month.
Thank you. Problem 04.048 Equivalence When PP < CP How much would your parents have to...
Thank you.
Problem 04.048 Equivalence When PP < CP How much would your parents have to deposit each month into an account that grows at a rate of 6% per year compounded quarterly if they want to have $76,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ each month.
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 ac...
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...
Question 6 20 pts How much would you have to deposit in your bank account in...
Question 6 20 pts How much would you have to deposit in your bank account in year 5 and year 6 (the same amount in each year) to have $5,000 in your account in year 8 if your bank account earns 3% compounded annually? 0 $2,288 O $2,322 0 $2,356 O $2,500
How much would you need to deposit in an account each month in order to have...
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.
Question 4 0/1pt Parents deposit $9,000 into a savings account at the end of each year...
Question 4 0/1pt Parents deposit $9,000 into a savings account at the end of each year for 22 years to help their child pay for college. The savings account pays 5% interest per year, compounded monthly. The child withdrawals an equal sum twice per year while in college (years 19 through 22). After the last withdrawal at the end of year 22, there is $6,000 remaining in the account. How much wa each semi-annual withdrawal in year 19 through 22?...
How much should you deposit at the end of each month into an investment account that...
How much should you deposit at the end of each month into an investment account that pays 6% compounded monthly to have $3 million when you retire in 40 years? How much of the $3 million comes from​ interest? In order to have $3 million in 40 years, you should deposit how much each month? ___ round to the nearest dollar. $___ of the $3 million comes from interest. use the answer from part a to find this answer round...
A) How much money will be in your savings account on January 1, 2023 if you...
A) How much money will be in your savings account on January 1, 2023 if you deposit $5,000 on January 1, 2020 and you earn 3.1% per year in interest? Interest is compounded annually on December 31 B) How much money would you have to deposit on January 1, 2020 to have $5,000 in your bank account on January 1, 2027 if the savings account paid 1.25% interest, compounded annually on December 31 of each year? C) Suppose your discount...
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...
How much would your parents have to deposit each month into an account that grows at a rate of 9% per year compounded semi-annually if they want to have $66,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ 6990.7 each month.
Problem 04.048 Equivalence When PP < CP How much would your parents have to deposit each month into an account that grows at a rate of 6% per year compounded quarterly if they want to have $76,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ each month.
Thank you.
Problem 04.048 Equivalence When PP < CP How much would your parents have to deposit each month into an account that grows at a rate of 6% per year compounded quarterly if they want to have $76,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ each month.
Question 6 20 pts How much would you have to deposit in your bank account in year 5 and year 6 (the same amount in each year) to have $5,000 in your account in year 8 if your bank account earns 3% compounded annually? 0 $2,288 O $2,322 0 $2,356 O $2,500
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.
Question 4 0/1pt Parents deposit $9,000 into a savings account at the end of each year for 22 years to help their child pay for college. The savings account pays 5% interest per year, compounded monthly. The child withdrawals an equal sum twice per year while in college (years 19 through 22). After the last withdrawal at the end of year 22, there is $6,000 remaining in the account. How much wa each semi-annual withdrawal in year 19 through 22?...
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