At the end of every 6 months, Tomas deposits $20,000 into a savings account, which pays an annual interest rate of 12.3% compounded semiannually. How much will the savings account have in 7 years? (Round your answer to the nearest cent.)
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At the end of every 6 months, Tomas deposits $20,000 into a savings account, which pays an annual interest rate of 12.3% compounded semiannually.
How much will the savings account have in 7 years?
(Round your answer to the nearest cent.)
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityIf Jackson deposits $120 at the end of each month in a savings account earning interest at a rate of 3%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 years, assuming he makes no withdrawals during that period? (Round your answer to the nearest cent.)
- If Jackson deposits 100 dollars at the beginning of each month in a savings account earning interest at the rate of 8%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 yr, assuming that he makes no withdraws during that period?Peter deposits $500 at the end of every month for 3 years in a savings account. The account pays 12% interest, compounded monthly. Peter calculates that the future value of the ordinary annuity is $21,538.44. What would be the future value if deposits were made at the beginning of each period rather than the end? (Calculate the future value by formula)Harry Morgan plans to make 30 quarterly deposits of P200 into a savings account. The first deposit will be made immediately. The savings account pays interest at an annual rate of 8%, compounded quarterly. How much will Harry have accumulated in the savings account at the end of the seven and a half-year period? (Use the appropriate table in the text.) *
- Sam deposits $900 at the end of every 6 months in an account that pays 6%, compounded semiannually. How much will he have at the end of 4 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. ordinary annuity annuity due (b) Solve the problem. (Round your answer to the nearest cent.)An investor deposits $100 into his credit union account that pays interest at the rate of 3.25% per year (payable at the end of each year). He leaves the money and all accrued interest in the account for 7 years. How much will he have at the end of the 7 years? What is the future value in SEVEN years if you receive $300 in two years and $500 at the end of five years? Assume an annual compound rate of 8.5%. What is the value of $2000after one year, if bank compounding half yearly and offered rate is 10%? What is the value of $2000 after one year if bank compounding quarterly and offered rate is 10%? What is the value of $2000after one year if bank compounding monthly and offered rate is 10%?At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an Annuity) Suppose your opportunity cost (interest rate/year) is 11% compounded annually. How much must you deposit in an account today if you want to pay yourself $230 at the end of each of the next 15 years? How much must you deposit if you want to pay yourself $230 at the beginning of each of the next 15 years? Bruce invested $1,250 (present value - enter as a negative number) 10 years ago. Today, the investment is worth $3,550 (future value). If interest is compounded annually, what annual rate of return did Bruce earn on his investment? (Use Solving for r - Rate of Return- on a Lump Sum) Mario wants to take a trip that costs $4,750 (future value), but currently he only has $2,260…
- Mr. Santos will deposit P10, 000 at the ABC bank at the end of each quarter for 2 years. If the bank gives out 9% compounded quarterly, find the amount to his credit just after the last deposit?Harry plans to deposit $3,000 at the beginning of each year into a savings account earning 2.75% compounded annually. How much will be in the account after 25 years? Your Answer:Lydia deposits $900 at the end of each year for 9 years in a savings account. The account pays 8% interest, compounded annually. Lydia calculates that the future value of the ordinary annuity is $11,238.80. What would be the future value if deposits are made at the beginning of each period rather than the end?
