If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent. 24

Q: You plan to deposit $6,000 at the end of each of the next 25 years Into an account paying 10.3…

A: Perodic Payment(PMT) is $6,000 Per Year Interest rate is 10.3% Time Period 25 years & 50 Years…

Q: First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City…

A: given, first bank simple interest=6%second bank compound interest =6%p=$7500n=10 years

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

A: Given: Future value = $50,000 Time =8 years Monthly period = 8*12 = 96 Interest = 4.5% So, monthly…

Q: A depositor currently has $6,000 and plans to invest it in an account that accrues interest…

A: Formula: Future value = Present value x ( 1 + r )N R = Rate of interest N = Number of years

Q: You want to be able to withdraw $3,500 each month for 20 years. Your account earns 10% interest. How…

A: Present value of annuity is the value of recurring regular interval future cashflow discounted to…

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: The future value of a present sum of money after n periods is given by the formula Future…

Q: Suppose you want to have $2,000,000 in 45 years. Calculate how much you need to deposit per nonth in…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: If you deposit $10 000 in a bank account that pays 10 interest annually, how much will be in your…

A: Present Value is a current value of a future amount that is receivable or payable. While, Future…

Q: Each day, you deposit $4.79 into a bank account whose annual rate is 1.6% with daily compounding.…

A: Daily deposit (P) = $4.79 Interest rate = 1.6% Daily interest rate (r) = 1.60%/365 =…

Q: If you deposit $5,000 in a bank account that pays 6% interest annually, how much will be in your…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: compounded

A: Formula to calculate preset value: PV = FV/(1+r/n)^nt Where PV is the present value, FV is the…

Q: You deposit $24,000.00 in an account that pays 6% compounded quarterly and immediately start making…

A: In this problem you have to find out present value FACTOR and find out quarterly deposits.

Q: a. You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being…

A: Using excel FV function

Q: You plan to deposit $4,900 at the end of each of the next 15 years into an account paying 11.3…

A: Solution- Given that P=$4900 r=11.3% n=15 years Future value of Annuity- =P * [ (1+r)^n -1] /r

Q: You plan to make five deposits of $1,000 each, one every 6 months, with the first paymentbeing made…

A:

Q: If the bank is paying 8% interest compounded quarterly, how much must you deposit today in your…

A: The formula to calculate the present value of future cash inflow is C/(1+r)n, where C is the cash…

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: formula to be used = Future value=PMT(1+r/n)n*t-1)/r/n   PMT= Monthly payment R= interest rate N=…

Q: If you deposit $8,000 in a bank account that pays 4% interest annually, how much will be in your…

A: Deposit=$8000Interest rate=4%Number of years=5

Q: You can earn .51 percent per month at your bank. If you deposit $3,400, how long must you wait until…

A: The number of months can be calculated with the help of future value function

Q: Suppose you currently have $4,800 in your savings​ account, and your bank pays interest at a rate of…

A: Present value is the sum of money that must be invested to achieve a specific future goal. Future…

Q: You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made…

A: Hi there, Thanks for posting the question. But, per Q&A honor code, The solution for the first…

Q: How much would you need to deposit in an account now in order to have $6,000 in the account in 8…

A: In order to solve this question one has to solve for the present value to know how much to save into…

Q: The bank is paying 9% interest compounded quarterly. If you deposit P5,000 at the beginning of each…

A: Interest rate (r) = 9% per annum = 2.25% per quarter Quarterly deposit (Q) = P 5000 n = 10 years =…

Q: You have a bank deposit now worth $5000. How long will it take for your deposit to be worth more…

A: Interest is an additional amount which is earned on deposited amount for the period. It increases…

Q: Suppose you deposit $22.000 in an account today that pays 6% interest, compounded annually. How long…

A: Information Provided: Initial deposit = $22,000 Future value = $76,000 Interest rate = 6% compounded…

Q: You plan to deposit $1,500 per year for 4 years into a money market account with an annual return of…

A: Future value of annuity=C×1+in-1iC=Cash flow per periodi=Interest raten=Number of payments

Q: Suppose you have $8,675,309 to deposit into a savings account for one year. The bank lets you choose…

A: Here Investor has $8,675,309 to deposit for 1 year @ 12% in two options: Compounded annually…

Q: Suppose you decide to deposit $11,000 in a savings account that pays a nominal rate of 6%, but…

A: The interest rate that did not take inflation, any fees on the loans, and compounding of the…

Q: You initially deposit $3,000 in to a savings account for 5 years, paying 6% compounded annually.…

A: Savings accounts is referred to as an interest bearing deposit account, which used to held at the…

Q: how much do you need to deposit now in a bank paying 6% interest compounded monthly if you want to…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: How much would be in your savings account in seven years after depositing $290 today if the bank…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: You deposit $296 today into a bank account that earns 12% annually.  How much will be in your…

A:

Q: How much would be in your savings account in 9 years after depositing $190 today if the bank pays 9…

A: Deposit amount (P) = $190 Interest rate (r) = 9% Period (n) = 9 Years

Q: If you put $259 into a bank account that pays 3.5% interest, compounded 9 times per year, how much…

A: Workings:

Q: You deposit $500 each month into an account earning 3% interest compounded monthly. Round to the…

A: We need to use future value of annuity formula to calculate money in account after 25 years Future…

Q: how much should you deposit in a bank paying 2% compounded quarterly to accumulate an amount of…

A: Present value of annuity is the current value of the future payments that are calculated using the…

Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…

A: Future value is the expected value of annual deposit to be made at specified interest rate. Given:…

Q: How much must you deposit in the bank today if you want to have $1,500 after 4 years?  Interest rate…

A: Time value of money (TVM) refers to the concept which proves that the value of money today is higher…

Q: If a Commercial Bank A offers its savers a 10.3% annual interest rate and pays interest annually,…

A: ASSUMING THE PRESENT VALUE (INVESTMENT)= 1000 FIND OUT FUTURE VALUE OF INVESTMENT    ANNUALLY…

Q: If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your…

A: In the given question we require to compute the future value from following details: Present value =…

Q: In order to have $373,010 in 29 years, how much needs to be deposited each month into a bank account…

A: Information Provided: Future value = $373,010 Years = 29 Interest rate = 1.1% compounded monthly…

Q: Suppose you decide to deposit $18,000 in a savings account that pays a nominal rate of 6%, but…

A: In order to take investment decisions, the investor will look forward for evaluation. The evaluation…

Q: How much would be in your savings account in 7 years after depositing $350 today if the bank pays 10…

A: To calculate the future value we will use the below formula   Future value = P*(1+r)t Where P -…

Q: how much would you have saved at the end of six years?  Round your answer to the nearest one dollar.

A: Future Value of Annuity = P x [{(1 + r)^n} - 1] / r Here, P = Periodic Deposit i.e. $46904 annually…

Q: You deposit $2000 in an account earning 8% interest, compounded quarterly. How much will you have in…

A: Principle P :- $2000 Time t :- 11 years Rate of interest r = 8% Compounded quaterly No. of intervals…