Calculate the future value of a retirement account in which you deposit $3,000 a year for 40 years with an annual intere...
Calculate the future value of a retirement account in which you deposit $3,000 a year for 40 years with an annual interest rate of 8 percent. Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
Homework Answers
Future value of annuity=Annuity[(1+rate)^time period-1]/rate
=3000[(1.08)^40-1]/0.08
=3000*259.057
=$777171.
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Calculate the future value of a retirement account in which you deposit $3,000 a year for 40 years with an annual intere...
Use future value and present value calculations to determine the following (a) The future value of...
Use future value and present value calculations to determine the following (a) The future value of a $400 savings deposit after eight years at an annual interest rate of 3 percent. Use Table 1. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value (b) The future value of saving $1,800 a year for five years at an annual interest rate of 4 percent. Use Table 2. (Round time value factor to 3...
Brenda plans to reduce her spending by $90 a month. Calculate the future value of this...
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Carla Lopez deposits $4,200 a year into her retirement account. If these funds have an average...
Carla Lopez deposits $4,200 a year into her retirement account. If these funds have an average earning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
(b) The future value of $1,200 saved each year for 10 years at 6 percent. (Round...
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(b) The future value of $900 saved each year for 10 years at 7 percent. (Round...
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Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds...
Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds have an average earnings of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.) Value of retirement account
33.33 A financial company advertises on television that they will pay you $75,000 now in exchange...
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Compute the future value in year 8 of a $3,500 deposit in year 1 and another...
Compute the future value in year 8 of a $3,500 deposit in year 1 and another $3,000 deposit at the end of year 3 using a 10 percent interest rate. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Future value =
Using a financial calculator or spreadsheet, calculate the following: a. The future value of a deposit...
Using a financial calculator or spreadsheet, calculate the following: a. The future value of a deposit of $380 left in an account paying 8% annual interest for 15 years. b. The future value at the end of 9 years of an annual end-of-year deposit of $500 into an account paying 11% annual interest a. The future value, FV, on a deposit of $380 left in an account paying 8% annual interest for 15 years is $ 1205.42. (Round to the...
needing help with these finacial problems Compute the present value of a $2,000 deposit in year...
needing help with these finacial problems
Compute the present value of a $2,000 deposit in year 1, and another $2.500 deposit at the end of year 4 using an 8 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value Assume that you contribute $150 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $350 per month for the next 25 years....
Use future value and present value calculations to determine the following (a) The future value of a $400 savings deposit after eight years at an annual interest rate of 3 percent. Use Table 1. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value (b) The future value of saving $1,800 a year for five years at an annual interest rate of 4 percent. Use Table 2. (Round time value factor to 3...
Brenda plans to reduce her spending by $90 a month. Calculate the future value of this increase in savings over the next 18 years. (Assume an annual deposit to her savings account, and an annual interest rate of 8 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value
(b) The future value of $1,200 saved each year for 10 years at 6 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value (c) The amount a person would have to deposit today (present value) at an Interest rate of 6 percent to have $1,200 five years from now. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Present value (d) The amount a person...
(b) The future value of $900 saved each year for 10 years at 7 percent. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future valueſ (c) The amount a person would have to deposit today (present value) at an interest rate of 8 percent to have $1,000 five years from now. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Present value (d) The amount a person...
Problem 1-9 (LO1.3) Carla Lopez deposits $1,600 a year into her retirement account. If these funds have an average earnings of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.) Value of retirement account
Using a financial calculator or spreadsheet, calculate the following: a. The future value of a deposit of $380 left in an account paying 8% annual interest for 15 years. b. The future value at the end of 9 years of an annual end-of-year deposit of $500 into an account paying 11% annual interest a. The future value, FV, on a deposit of $380 left in an account paying 8% annual interest for 15 years is $ 1205.42. (Round to the...
needing help with these finacial problems
Compute the present value of a $2,000 deposit in year 1, and another $2.500 deposit at the end of year 4 using an 8 percent interest rate. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value Assume that you contribute $150 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $350 per month for the next 25 years....
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