If you start TODAY depositing $100 per month, and continue to do so each month for...
If you start TODAY depositing $100 per month, and continue to do so each month for the next 20 years, in an account that pay 8% interest compounded monthly, how much will you have in 20 yeas? Please use FV function in excel
Homework Answers
Hi frnd
For Ur reference I am attaching one example that has done in excel you can use same function
Sorry currently I am doing in mobile otherwise I should have provided in excel only
Thanks
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If you start TODAY depositing $100 per month, and continue to do
so each month for...
Now that you are going to save 100 €/month, you decided to save those 100€ per...
Now that you are going to save 100 €/month, you decided to save those 100€ per month in a bank account that offers a 2% interest rate compounded monthly, till the day you retire (that is to say, in 20 years). Please answer the following questions: If you decide to do your deposits at the beginning of every month (so your first deposit will be done today) in a bank account that offers a 2% interest rate compounded monthly, and...
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You plan to save $240 per month starting today for the next 33 years "just to...
You plan to save $240 per month starting today for the next 33 years "just to start the month off right." You feel that you can earn an interest rate of 10 percent compounded monthly. How much will there be in the account 33 years from today? Multiple Choice O $747618.00 O $690,761.90 $741.439.34 5640,084.45 $704.092.89
For your retirement planning, you are currently depositing $350 per month into an account that earns...
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1. You start working this month and plan to save $67 at the end of each...
1. You start working this month and plan to save $67 at the end of each month into the bank account that pays 6.91% compounded monthly. How much do you expect to have at the end of 7 years? Please round your answer to the second decimal without dollar sign. (e.g. 0.00) 2. If you plan to buy a LV bag for your mother's 60th birthday, which will cost you $4,690, in 3 years. How much do you need to...
23. What is the future value at the end of year 28 of depositing $5,000 today, $3,500 at the end of years 1, 2 and 3, $...
23. What is the future value at the end of year 28 of depositing $5,000 today, $3,500 at the end of years 1, 2 and 3, $5,000 at the end of years 4, 5, 6 and 7 and $4,250 at the end of years 8, 9, 10, 11 and 12 into an account that pays 9.5% p.a.? (No deposits will be made into the account after year 12). 24. If you wanted to fund a scholarship that would pay $12,500...
You begin to save for your newborn child's college education by depositing $200 per month in...
You begin to save for your newborn child's college education by depositing $200 per month in an account paying 4% interest per year. You increase the amount you deposit each month by 5% each year. With continuous investment and compounding ... incipal will have been investe (nearest $100) B. What would be the average monthly payment over those 18 years? (nearest $1) C. How much will have accumulated in the account by the time your child enters college 18 years...
The good news - saving $10 per month We continue with the same example: you deposit $10 per month into a savings account with an annual interest rate of 30%, compounded monthly. Use your formula f(r)...
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what are the Financial Calculator Inputs? Today, you start putting $100 into the bank every month...
what are the Financial Calculator Inputs? Today, you start putting $100 into the bank every month for the next 40 years. The account pays annual interest of 3.5%. A month after your last deposit, you will have about $92,837 in the account. A. True B. False
You are considering an investment by depositing $25,000 to an account today and making monthly contributions...
You are considering an investment by depositing $25,000 to an account today and making monthly contributions of $300 into the account for 10 years. If you want to have $100,000 in the account after 10 years, what annual interest rate must you earn from the account? If you go ahead with the investment and decide to increase the monthly contribution to $400 after 5 years (deposit $25,000 today, $300 monthly for the first 5 years), how much will you have...
You plan to save $240 per month starting today for the next 33 years "just to start the month off right." You feel that you can earn an interest rate of 10 percent compounded monthly. How much will there be in the account 33 years from today? Multiple Choice O $747618.00 O $690,761.90 $741.439.34 5640,084.45 $704.092.89
23. What is the future value at the end of year 28 of depositing $5,000 today, $3,500 at the end of years 1, 2 and 3, $5,000 at the end of years 4, 5, 6 and 7 and $4,250 at the end of years 8, 9, 10, 11 and 12 into an account that pays 9.5% p.a.? (No deposits will be made into the account after year 12). 24. If you wanted to fund a scholarship that would pay $12,500...
You begin to save for your newborn child's college education by depositing $200 per month in an account paying 4% interest per year. You increase the amount you deposit each month by 5% each year. With continuous investment and compounding ... incipal will have been investe (nearest $100) B. What would be the average monthly payment over those 18 years? (nearest $1) C. How much will have accumulated in the account by the time your child enters college 18 years...
The good news - saving $10 per month We continue with the same example: you deposit $10 per month into a savings account with an annual interest rate of 30%, compounded monthly. Use your formula f(r) to answer the following questions. (a) Determine the amount in the account after 1 year. How much is interest? (b) Determine the amount in the account after 10 years. How much is interest? (c) Determine the amount in the account after 45 years. How...
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