Please refer to below spreadsheet for calculation and answer. Cell reference also provided.
Cell reference -
Hope this will help, please do comment if you need any further explanation. Your feedback would be highly appreciated.
Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account earned interest at th...
Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account earned interest at the rate of 10% per year. Assuming the end-of-the-year convention, what is the amount of equal annual withdrawals that can be made to completely deplete the fund 15 years from now if the first withdrawal will be made one year from today?
please solve in word format instead of excel Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account earned interest at the rate of 10% per year. Assuming the end-of-the-year convention, what is the amount of equal annual withdrawals that can be made to completely deplete the fund 15 years from now if the first withdrawal will be made one year from today? I B Fi Initial Deposit $100,000,00 (P)
Pete Frost made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $20,500. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? terly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) Annually (b) Semiannually (c) Quarterly
Rick deposited $2,850 into an account 7 years ago for an emergency fund Rick deposited $2,850 into an account 7 years ago for an emergency fund. Today, that account is worth $4,160. What annual rate of return did Rick eam on this account assuming no other deposits and no withdrawals? Multiple Choice o 5.18 percent o 5.55 percent o 4.15 percent o 533 percent
Rick deposited $3,000 into an account 12 years ago for an emergency fund. Today, that account is worth $4,460. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?
Rick deposited $3,050 into an account 9 years ago for an emergency fund. Today, that account is worth $3,950. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is $62,625. How long ago did she make the initial deposit if the annual interest rate on the account is 5 percent? Multiple Choice 29.51 years 0 29.72 years 29.72 years 30.13 years 30.00 years 29.67 years
Please show work and explain 18) Exactly 5years ago, Carlos deposited $75 l into a savings account that has earned 1% annual interest, compounded quarterly. There have been no other deposits and no withdrawals. What is the account balance today?
1) If $4000 is deposited in a savings account that earns interest at an annual rate of 2.5% interest compounded continuously, what is the value of the account at the end of two years? 2) A trust fund for a 11-year-old child is being set up by a single payment so that at age 21 the child will receive $37,000. Find how much the payment is if an interest rate of 9% compounded semiannually is assumed. 3) A bank account...
In 2008, Harold deposited $100,000 in an account paying 12.1% annual interest. Harold wants to make six equal annual withdrawals from the account starting with the first withdrawal in 2018. Further, Harold wants to have exactly $140,000 left in the account in 2025. How large can each of the annual withdrawals be? $61,084.74 $50,976.92 $33,627.22 $81,878.74 $54,491.29