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EXAMPLE:At the beginning of each month, you deposit K lesson8b 4ngs account that earns 2.4% annual...
Cindy and Mike managed to save $522,000 in their retirement account, which earns 4.1 percent annual...
Cindy and Mike managed to save $522,000 in their retirement account, which earns 4.1 percent annual interest. They plan to live on this money and will begin withdrawing $6,000 per month out of the account until the money in the account is gone. How long, in months, will their money last? (Show your answer to two decimals, e.g., 12.34; fractional months are okay) Please show using Excel functions. Nper Rate PV FV PMT Nper Rate PV FV PMT
Today you deposit 100$ today an account that earns 12% annual interest. If you do not...
Today you deposit 100$ today an account that earns 12% annual interest. If you do not make any additional deposits or withdrawals how long does it take to double your money ?
You agree to deposit $500 at the beginning of each month into a bank account for...
You agree to deposit $500 at the beginning of each month into a
bank account for the next 24 months. At the end of the 24th month,
you will have $13,000 in your account. If the bank compounds
interest monthly, what annual interest rate will you have
earned?
Note: Only use the formula listed and show the steps of how you
reached the answer, I don't need to know just the answer, I'm
trying to learn. Thank you. Don't use...
You agree to deposit $500 at the beginning of each month into a bank account for...
You agree to deposit $500 at the beginning of each month into a
bank account for the next 24 months. At the end of the 24th month,
you will have $13,000 in your account. If the bank compounds
interest monthly, what annual interest rate will you have
earned?
Note: Please post the formula used to solve the question and
list the steps taken to reach the answer, please don't use excel. I
provided a list of formulas, please state the...
JAVA PLEASE! Suppose you save $100 each month into a savings account with the annual interest...
JAVA PLEASE! Suppose you save $100 each month into a savings account with the annual interest rate 5%. So, the monthly interest rate is 0.05/12 = 0.00417. After the first month, the value in the account becomes 100 * (1 + 0.00417) = 100.417 After the second month, the value in the account becomes (100 + 100.417) * (1 + 0.00417) = 201.252 After the third month, the value in the account becomes (100 + 201.252) * (1 + 0.00417)...
3. A person saves 100 in a bank account at the beginning of each month. The...
3. A person saves 100 in a bank account at the beginning of each month. The bank offers a return of 24% compounded monthly i. Determine the total value of savings after 12 months ii. After how many months does the amount saved exceed €4000?
1)You plan to deposit $100 in a savings account at the end of each month for...
1)You plan to deposit $100 in a savings account at the end of each month for the next 10 years. How much will you have in 10 years, assuming a 2% annual interest rate. 2)You wish to purchase a car that costs $22,000 today. You will put $2,000 down and borrow the remaining $20,000. The interest will be 2.00% and you will make monthly payments (end of month) over 5 years. What will your monthly payment be? I need help...
4- Beginning 1 month from today David B. will deposit each month $200 into an account...
4- Beginning 1 month from today David B. will deposit each month $200 into an account paying 15 6% nominal interest. He will make a total of 240 deposits (20 years). After the last deposit the money in the account will begin to earn 4% interest compounded annually. After another 10 years David will begin to withdraw annual amounts for a total of 10 years. How much can be withdrawn each year if the account is to be depleted (zero...
You are planning to take a four-month trip. You will withdraw $1000 from your account at...
You are planning to take a four-month trip. You will withdraw
$1000 from your account at the beginning of each of the four
months. All money for the trip must be in the account when it
starts, and you will make no other deposits or withdrawals. You may
assume each month is 1/12 of a year.
Assume your account has an annual interest rate of 2.4%,
compounded continuously. Let the beginning of your trip be at time
t = 0,...
Question 8 0/9 pts Leona opens a savings account with an initial deposit of $150. She...
Question 8 0/9 pts Leona opens a savings account with an initial deposit of $150. She then deposits $150 into that savings account at the end of every subsequent month. This savings account pays an annual interest rate of 3.6% and is compounded monthly. How much does Leona have in her account at the end of each of the first 3 years? not ((1+5)* - 1 B(t)= P. (5) Round your answer to the nearest penny. Input the dollar sign...
You agree to deposit $500 at the beginning of each month into a
bank account for the next 24 months. At the end of the 24th month,
you will have $13,000 in your account. If the bank compounds
interest monthly, what annual interest rate will you have
earned?
Note: Only use the formula listed and show the steps of how you
reached the answer, I don't need to know just the answer, I'm
trying to learn. Thank you. Don't use...
You agree to deposit $500 at the beginning of each month into a
bank account for the next 24 months. At the end of the 24th month,
you will have $13,000 in your account. If the bank compounds
interest monthly, what annual interest rate will you have
earned?
Note: Please post the formula used to solve the question and
list the steps taken to reach the answer, please don't use excel. I
provided a list of formulas, please state the...
3. A person saves 100 in a bank account at the beginning of each month. The bank offers a return of 24% compounded monthly i. Determine the total value of savings after 12 months ii. After how many months does the amount saved exceed €4000?
4- Beginning 1 month from today David B. will deposit each month $200 into an account paying 15 6% nominal interest. He will make a total of 240 deposits (20 years). After the last deposit the money in the account will begin to earn 4% interest compounded annually. After another 10 years David will begin to withdraw annual amounts for a total of 10 years. How much can be withdrawn each year if the account is to be depleted (zero...
You are planning to take a four-month trip. You will withdraw
$1000 from your account at the beginning of each of the four
months. All money for the trip must be in the account when it
starts, and you will make no other deposits or withdrawals. You may
assume each month is 1/12 of a year.
Assume your account has an annual interest rate of 2.4%,
compounded continuously. Let the beginning of your trip be at time
t = 0,...
Question 8 0/9 pts Leona opens a savings account with an initial deposit of $150. She then deposits $150 into that savings account at the end of every subsequent month. This savings account pays an annual interest rate of 3.6% and is compounded monthly. How much does Leona have in her account at the end of each of the first 3 years? not ((1+5)* - 1 B(t)= P. (5) Round your answer to the nearest penny. Input the dollar sign...
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