How much would you have to deposit in years 7 , 8 and 9 to be able to withdraw $1,000 in years 9 and 10 if your bank account earns 6% APR compounded annually?
(Hint: bring all the cash-flows back to today and then solve from there)
Question 4 20 pts If you deposit $1,000 in periods 9, 10 and 11 how much will you be able to withdraw (the same amount in each period) in periods 11 and 12 to just empty your bank account, if your account earns 2% compound annually? (Hint: Bring all the cash-flows to today and then solve from there) 0 $1,040 O $1,485 O $1,560 0 $1,623 0 $1,545
9. How much would you need to deposit in an account now in order to have $6,000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. 13. Jose has determined he needs to have $800,000 for retirement in 30 years. His account earns 6% interest. a. How much would he need to deposit in the account each month? b. How much total money will he put into the account? c. How much total interest will...
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...
37. You can earn 8 percent interest, compounded monthly. How much must you deposit today to withdraw $10,000 in 6 years? 38. If you invest $10,000 in an account expected to earn 5.0% compounded annually, how long do you need to invest for the account to have grown to $40,000? 42. A bank is offering a CD which it will sell to its customers for $10,000 paying them back $14,000 in 4 years. What annual rate of return will a...
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
4 Question6 LO1 How much would you have to invest in years 1 and 2 in order to have $5,000 in 4 years if your account earns 2% compounded annually? O $2.379.13 O $2,33248 o $2,450.50 O $2.426.71 Question 7 4 pts LO1 How much would y 5.00% APR, ou have to invest today in an account that pays compounded monthly, to have $3,000 in 4 months?
How much does Constance need to have on deposit at retirement if she plans to withdraw $15,000.00 annually for 20 years assuming that the retirement fund earns 6%, compounded annually?
If you deposit $4,000 4 years from today, how much can you withdraw 10 years from today if interest is 7 percent per year compounded annually? $: Round entry to the nearest dollar. Tolerance is t3.
1. You deposit $400 each month into an account earning 7% interest compounded monthly. a) How much will you have in the account in 35 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn? $ 2. Suppose you want to have $300,000 for retirement in 35 years. Your account earns 8% interest. a) How much would you need to deposit in the account each month? $ b)...
Suzane is 30 years old and would like to maximize the amount she cam deposit into her retirement account, however she is limited in the amount she can deposit. The IRS limits the maximum deposit amount and she has leftover student debt that also limits her deposit rate. The IRD limit ius $18,500 today and is expected to rise by the cost of iunflation at 2.5% per year. Because of her student debt Suzanne can only deposit $6,000 per year...