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
what are the Financial Calculator Inputs? Today, you start putting $100 into the bank every month...
You decide to deposit $100 in the bank today and to make 10 additional deposits every 6 months beginning 6 months from now, the first of which will be $75 and increasing $25 per deposit after that. A few minutes after making the last deposit, you decide to withdraw all the money deposited. If the bank pays 6% nominal interest compounded semiannually, how much money will you receive?
You decide to deposit $50 in the bank today and to make 10 additional deposits every 6 months beginning 6 months from now, the first of which will be $50 and increasing $10 per deposit after that. A few minutes after making the last deposit, you decide to withdraw the all the money deposited. If the bank pays 8% nominal interest compounded semiannually, how much money will you receive? You decide to deposit $50 in the bank today and to...
Derek can deposit $211.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 12.00% and compounds interest monthly. Derek can deposit $2,450.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after...
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
Today is your 25th birthday (Happy Bday!). You plan on retiring 35 years from today. Every month you work, starting today (t=0), you wish to put an equal amount of money into a savings account with your last deposit on the day you retire. After you retire, you will need to withdraw $10,000 a month with your last withdrawal on your 80th birthday (first withdrawal is one month after you retire). Also when you turn 80, you plan on giving...
1. Derek can deposit $272.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 14.00% and compounds interest monthly. Derek can deposit $2,542.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts...
Derek wants to withdraw $12,560.00 from his account 5.00 years from today and $12,875.00 from his account 15.00 years from today. He currently has $2,845.00 in the account. How much must he deposit each year for the next 15.0 years? Assume a 5.02% interest rate. His account must equal zero by year 15.0 but may be negative prior to that. Submit Answer format: Currency: Round to: 2 decimal places. Derek currently has $14,502.00 in an account that pays 5.00%. He...
1. If you deposit $350 in an account today at 6% annual interest rate, 6 years from today you will have ______ in your account. a. $496.48 b. $ 2,226.00 c. $371.00 d. $386.00 2. How much do you need to deposit in your account today if you want to have $12,000 accumulated in your account in 5 years. assume 7% interest rate? a. $2,400.00 b. $8,528.18 c. $8,555.83 d. $16,830.62 3. We can omit the negative sign when inputting...
You decided to quit smoking today. Now that you are going to save 300 €/month, you decided to save those 300€ per month in a bank account that offers a 5% interest rate compounded monthly, till the day you retire (that is to say, in 20 years). Please answer the following questions: 1. If you do your deposits at the end of every month (so your first deposit will be in one month from today) in a bank account that...
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...