Rachel still wants that new camera that costs $3800 for her photography business. Her savings account earns .89% compou...
- Rachel still wants that new camera that costs $3800 for her
photography business. Her savings account earns .89% compounded
monthly.
- Rachel wants to know how long it will take her to save for the camera if she makes monthly deposits of $75.
- How much will she pay in the long run for the camera if she makes monthly deposits of $75?
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Rachel still wants that new camera that costs $3800 for her photography business. Her savings account earns .89% compou...
Brooke wants to open her first savings account, in order to save money for college tuition....
Brooke wants to open her first savings account, in order to save money for college tuition. She goes to the bank and opens an account that pays 8% interest compounded annually. She deposits $3,000 initially into the account. How much money will she have in 5 years, when she will be entering college?
Adele deposited $25,000 into her savings account on September 17, 2018. (a) If Adele's account earns...
Adele deposited $25,000 into her savings account on September 17, 2018. (a) If Adele's account earns an effective annual interest rate of 3.5%, how much money will Adele have in her account on September 17, 2025? account to accumulate to $40,000? effective annual interest rate she earns on her deposit? (b) If Adele's account earns an effective annual interest rate of 3.5%, how long will it take her (c) Suppose that Adele will have $30,000 in her account by September...
Francis Fray is saving for her retirement fund. She wants to have $450,000 in 30 years...
Francis Fray is saving for her retirement fund. She wants to have $450,000 in 30 years when she turns 75 . She expects the APR to be 6% compounded monthly a. How much should she deposit each month? b, She has decided to save even more each month to get to her goal and is planning to deposit $550 each month. How long will it take her to achieve her goal of $450,000? Thank you
Question 8 0/9 pts Leona opens a savings account with an initial deposit of $150. She...
Question 8 0/9 pts Leona opens a savings account with an initial deposit of $150. She then deposits $150 into that savings account at the end of every subsequent month. This savings account pays an annual interest rate of 3.6% and is compounded monthly. How much does Leona have in her account at the end of each of the first 3 years? not ((1+5)* - 1 B(t)= P. (5) Round your answer to the nearest penny. Input the dollar sign...
Lady Gaga is 30 and already worried about her future. She wants to make sure that...
Lady Gaga is 30 and already worried about her future. She wants to make sure that she’ll be able to keep up with the life standard she got used to – at the end of the day, she was born this way and wants to die this way, too. She has couple of goals that she wants to achieve after she retires. First, she wants to be able to withdraw $150,000 each month to cover her clothing and make-up expenses...
Question 4 Question Value: 7 Rinku has just finished her first year of university. She wants...
Question 4 Question Value: 7 Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part- time job through the school year and a summer job during the summer, she plans to make regualr weekly deposits into a savings account, which bears 15% interest, compounded monthly (Assume there are four weeks in every month for this question). (a) If Rinku deposits $10 per week, how much will...
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save...
1. Shirley wants to go on a trip to Hawaii. She budgets that she can save $108 at the end of every month, and interest in her account is 8% compounded biweekly. By looking at prices, she knows that the trip will cost her $4813 total. How long in years (round to two decimal places) will it take before she can go on her trip? 2. Joey buys a new Honda civic for $18997. He agrees to payments at the...
1. Calculate the accumulated value of an ordinary annuity of $4,200 a year for 6 years...
1. Calculate the accumulated value of an ordinary annuity of $4,200 a year for 6 years if the money is worth 71 2 %. 2. Find the future value of the cash flow of $600 a month for 5 years at 9% interest compounded monthly. 3. If Gabe makes a $450 deposit into his savings fund at the end of each quarter for 6 years, how much will he be able to collect at the end of the sixth year...
Christy Reed made a $2,400 deposit in her savings account on her 21st birthday, and she...
Christy Reed made a $2,400 deposit in her savings account on her
21st birthday, and she has made another $2,400 deposit on every
birthday since then. Her account earns 10 percent compounded
annually.
How much will she have in the account after she makes the
deposit on her 32nd birthday? Use Appendix C for an approximate
answer, but calculate your final answer using the formula and
financial calculator methods. (Do not round intermediate
calculations. Round your final answer to 2...
1. Alex has a circular pasture; she wants to plant new grass for her horses. First,...
1. Alex has a circular pasture; she wants to plant new grass for her horses. First, she needs to know the area of the pasture. She has determined the radius to be twenty feet (20ft) 2. The grass seed is sold in bags that covers 30 square feet. How many bags would Alex need? 3. Alex got a quote from a landscaper for $3,500 to seed this area. Alex knows she can buy each bag for $85. Which is the...
Adele deposited $25,000 into her savings account on September 17, 2018. (a) If Adele's account earns an effective annual interest rate of 3.5%, how much money will Adele have in her account on September 17, 2025? account to accumulate to $40,000? effective annual interest rate she earns on her deposit? (b) If Adele's account earns an effective annual interest rate of 3.5%, how long will it take her (c) Suppose that Adele will have $30,000 in her account by September...
Francis Fray is saving for her retirement fund. She wants to have $450,000 in 30 years when she turns 75 . She expects the APR to be 6% compounded monthly a. How much should she deposit each month? b, She has decided to save even more each month to get to her goal and is planning to deposit $550 each month. How long will it take her to achieve her goal of $450,000? Thank you
Question 8 0/9 pts Leona opens a savings account with an initial deposit of $150. She then deposits $150 into that savings account at the end of every subsequent month. This savings account pays an annual interest rate of 3.6% and is compounded monthly. How much does Leona have in her account at the end of each of the first 3 years? not ((1+5)* - 1 B(t)= P. (5) Round your answer to the nearest penny. Input the dollar sign...
Question 4 Question Value: 7 Rinku has just finished her first year of university. She wants to tour Europe when she graduates in 3 years. By having a part- time job through the school year and a summer job during the summer, she plans to make regualr weekly deposits into a savings account, which bears 15% interest, compounded monthly (Assume there are four weeks in every month for this question). (a) If Rinku deposits $10 per week, how much will...
Christy Reed made a $2,400 deposit in her savings account on her
21st birthday, and she has made another $2,400 deposit on every
birthday since then. Her account earns 10 percent compounded
annually.
How much will she have in the account after she makes the
deposit on her 32nd birthday? Use Appendix C for an approximate
answer, but calculate your final answer using the formula and
financial calculator methods. (Do not round intermediate
calculations. Round your final answer to 2...
1. Alex has a circular pasture; she wants to plant new grass for her horses. First, she needs to know the area of the pasture. She has determined the radius to be twenty feet (20ft) 2. The grass seed is sold in bags that covers 30 square feet. How many bags would Alex need? 3. Alex got a quote from a landscaper for $3,500 to seed this area. Alex knows she can buy each bag for $85. Which is the...
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