Homework Answers
Future value of annuity=Annuity[(1+rate)^time period-1]/rate
=$5000[(1.12)^18-1]/0.12
=$5000*55.74971496
which is equal to
=$278,749(Approx).
Your grandmother has been putting $2,000 into a savings account on every birthday since your first...
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7.) Your grandmother has been putting $ 1 comma 000 into a savings account on every...
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Your grandmother has been putting $2,000 into a savings account on every birthday since your first...
Your grandmother has been putting $2,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 9%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is $(Round to the nearest dollar.)
Since your birth, your grandparents have been depositing $100 into a savings account every month. The...
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Since your birth, your grandparents have been depositing $130 into a savings account every month. The...
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Your grandmother has been putting $4,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 11%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is S(Round to the nearest dollar.)
Your grandmother has been putting $2,000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 9%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is $(Round to the nearest dollar.)
Since your birth, your grandparents have been depositing $120 into a savings account every month. The account pays 12% interest annually. Immediately after your grandparents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to: O A. $109,132 OB. $127,320 O C. $90,943 OD. $54,566
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