1. In order to accumulate enough money for a down payment on a house, a couple deposits $507 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 5 years?
2. A company estimates that it will need $125,000 in 16 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 3.3% compounded monthly, how much should each payment be?
1. In order to accumulate enough money for a down payment on a house, a couple deposits $507 per month into an account...
In order to accumulate enough money for a down payment on a house, a couple deposits $435 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years?
In order to accumulate enough money for a down payment on a house, a couple deposits $407 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 5 years? Type the account in the account: $_______
In order to accumulate enough money for a down payment on a house, a couple deposits $624 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 3 years? What is the amount in the account after 3 years? $ (Round to the nearest cent as needed.)
1. In order to accumulate enough money for a down payment on a house, a couple deposits $745 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years? 2. Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $14,000; quarterly payments...
del 5629 per month into an account paying In order to accumulate enough money for a down payment on a house, a couple deposits $629 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 6 years? What is the amount in the account after 6 years? in 6 years $07 Round to the nearest cent as needed.)
A company estimates that it will need $71,000 in 14 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 4.2% compounded monthly, how much should each payment be? The amount of each payment should be$ (Round to the nearest cent.)
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period. $80,000; money earns 4.2% compounded monthly for 1 years $2131.89 51994.94 51968.15 56539.30
1. a) A company estimates that it will need $53,000 in 17 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 4.8% compounded monthly, how much should each payment be? b) American General offers a 8-year annuity with a guaranteed rate of 6.05% compounded annually. How much should you pay for one of these annuities if you want to receive payments of $1400 annually over the 8 year period?...
4.The Weidmans want to save $20,000 in 4 years for a down payment on a house. If they make monthly deposits in an account paying 12%, compounded monthly, what is the size of the payments that are required to meet their goal? 5. (a) Patty Stacey deposits $2200 at the end of each of 5 years in an IRA. If she leaves the money that has accumulated in the IRA account for 25 additional years, how much is in her account at the...
A couple wants to save $14,000 for a down payment for a house in 4 years. For four years they will make deposits at the end of each month into an account which earns 7% compounded semiannually. Determine the size of the payments needed.