want to buy a condo 5 years from now, and plant to save $5000 per year,...
want to buy a condo 5 years from now, and plant to save $5000 per year, beginning one year from today. the money will be deposited in an account that pays 6% interest. how much will you have just after you make the 5th deposit, 5 years from now
Homework Answers
Future value of annuity= payment per period * [(1+i)^n-1]/i
i = interest rate per period
n = number of periods
=>
Future value = 5000 * [(1+0.06)^5 - 1]/0.06
= 28185.47
Add Answer to:
want to buy a condo 5 years from now, and plant to save $5000
per year,...
You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year,...
You want to buy a new sports car 3 years from now, and you plan to save $4,200 per year, beginning one year from today. You will deposit your savings in an accountthat pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?
Assume that you plan to buy a condo 5 years from now, and you estimate that...
Assume that you plan to buy a condo 5 years from now, and you estimate that you can save $3 ,500 per year. You plan to deposit the money in a bank that pays 4% interest, and you will make the first deposit at the end of the year. How much will you have after 5 years? How will your answer change if the interest rate is increased to 6% or lowered to 3%?
You want to go to Europe 5 years from now, and you can save $7,300 per...
You want to go to Europe 5 years from now, and you can save $7,300 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 8.5% per year. Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now? a. $50,608.61 b. $51,906.27 c. $46,715.64 d. $32,873.97 e. $43,255.22
Question 7 5 pts You want to go to Europe 5 years from now, and you...
Question 7 5 pts You want to go to Europe 5 years from now, and you can save $3.500 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 7.3% per year. Under these conditions, how much would you have just after you make the 5th deposit. 5 years from now? Your answer should be between 18,055.00 and 24,575.00, rounded to 2 decimal places, with no special characters....
e $7,000 per year, count that pays 2.0% 10. You want to buy a new ski...
e $7,000 per year, count that pays 2.0% 10. You want to buy a new ski boat 2 years from now, and you plan to save $7,000 per beginning one year from today. You will deposit your savings in an account that pay interest. How much will you have lust after you make the 2nd deposit, 2 years from now? a. S14,140 b. S16,063 c. $16,480 d. S14,210 e. $14,350
ASSESSMENT 5. You want to buy a condo 5 years from now, and you plan to...
ASSESSMENT 5. You want to buy a condo 5 years from now, and you plan to save $3,000 per year, beginningat the end of each year. You will make 5 deposits in an account that pays 6 % interest. Under these assumptions, how much will you have 5 years from today? a. $16,110,34 b. $16,911.28 c. $17,513.68 d. $15,976.84 e. $18,349.15 6. You have the opportunity to buy a perpetuity that pays $1,000 annually. Your required rate of return on...
MINDTAP Q Search this n. 5 Quiz Submit Test for Grading Save MC.05.091 Question 4 of...
MINDTAP Q Search this n. 5 Quiz Submit Test for Grading Save MC.05.091 Question 4 of 5> You want to buy a new sports car 3 years from now, and you plan to save $6.200 per year, beginning one year from today. You will deposit your savings in an account that pays 5.2% interest. How much will you have just after you make the grd deposit, 3 years from now? O a. $19,583.96 O b. $24,284,12 O C $22,521.56 d....
You want to go to grad school 3 years from now and you can save $5,000...
You want to go to grad school 3 years from now and you can save $5,000 per year. De immediately. You plan to deposit the funds in a mutual fund which you expect to retur Under these conditions, how much will you have just after you make the 3rd deposit, 3 years in a. $14,976.84 6. $16,110.34 * using a financcu calculator c. $17,513.68 d. $17,865.65 e. $18,349.15 You have a chance to buy an annuity that pays $1,000 at...
Problem 1- Saving Money You want to deposit money into a bank account that pays 1.5%...
Problem 1- Saving Money You want to deposit money into a bank account that pays 1.5% compounded monthly. Answer the following questions: f depositing $4000, how much is avaiable in the account at the end of S years? .How much do you have to deposit now in order to have $5000 available at the end of 5 years? Instead of depositing one sum of money at the beginning of the 5-year period, suppose you wish to make monthly payments. How...
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You est...
You just graduated from college and decide to start saving for a down payment to buy a house 5 years from today. You estimate you will need $20,000 in 5 years for the down payment. (Note: a down payment is a deposit a home buyer must make in order to get a mortgage loan from a bank to buy the house.) 1. Assume you can earn 6% interest (APR) on your savings, and you want to make a single deposit...
Question 7 5 pts You want to go to Europe 5 years from now, and you can save $3.500 per year, beginning one year from today. You plan to deposit the funds in a mutual fund that you think will return 7.3% per year. Under these conditions, how much would you have just after you make the 5th deposit. 5 years from now? Your answer should be between 18,055.00 and 24,575.00, rounded to 2 decimal places, with no special characters....
e $7,000 per year, count that pays 2.0% 10. You want to buy a new ski boat 2 years from now, and you plan to save $7,000 per beginning one year from today. You will deposit your savings in an account that pay interest. How much will you have lust after you make the 2nd deposit, 2 years from now? a. S14,140 b. S16,063 c. $16,480 d. S14,210 e. $14,350
ASSESSMENT 5. You want to buy a condo 5 years from now, and you plan to save $3,000 per year, beginningat the end of each year. You will make 5 deposits in an account that pays 6 % interest. Under these assumptions, how much will you have 5 years from today? a. $16,110,34 b. $16,911.28 c. $17,513.68 d. $15,976.84 e. $18,349.15 6. You have the opportunity to buy a perpetuity that pays $1,000 annually. Your required rate of return on...
MINDTAP Q Search this n. 5 Quiz Submit Test for Grading Save MC.05.091 Question 4 of 5> You want to buy a new sports car 3 years from now, and you plan to save $6.200 per year, beginning one year from today. You will deposit your savings in an account that pays 5.2% interest. How much will you have just after you make the grd deposit, 3 years from now? O a. $19,583.96 O b. $24,284,12 O C $22,521.56 d....
You want to go to grad school 3 years from now and you can save $5,000 per year. De immediately. You plan to deposit the funds in a mutual fund which you expect to retur Under these conditions, how much will you have just after you make the 3rd deposit, 3 years in a. $14,976.84 6. $16,110.34 * using a financcu calculator c. $17,513.68 d. $17,865.65 e. $18,349.15 You have a chance to buy an annuity that pays $1,000 at...
Problem 1- Saving Money You want to deposit money into a bank account that pays 1.5% compounded monthly. Answer the following questions: f depositing $4000, how much is avaiable in the account at the end of S years? .How much do you have to deposit now in order to have $5000 available at the end of 5 years? Instead of depositing one sum of money at the beginning of the 5-year period, suppose you wish to make monthly payments. How...
Most questions answered within 3 hours.
-
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 5 minutes ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 55 minutes ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 1 hour ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 3 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 2 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 4 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 5 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 5 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 5 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 5 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 5 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 6 hours ago