John deposits $2,000 per year at the end of the year for the next 20 years into an IRA account that pays 6%. How much will John have on deposit at the end of 20 years? $67,520 $73,572 $81,990 $75,686
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the debt in 3 annual installments at the end of each year, which would include interest at 14%. Draw a time line for the problem. Indicate what table to use. Look up the table value and place it in a brief formula. Solve.Derek will deposit $2,713.00 per year for 16.00 years into an account that earns 10.00 %, The first deposit is made next year. He has $14,955.00 in his account today. How much will be in the account 50.00 years from today? round answer 2 decimal places
- David deposits $2,000 per year at the end of the year for the next 20 years into an IRA account that currently pays 6%. How much will David have on deposit at the end of 20yearsAn 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%?Derek will deposit $1,169.00 per year into an account starting today and ending in year 5.00. The account that earns 7.00%. How much will be in the account 5.0 years from today?
- Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14% compounded quarterly. How much will he have in his account at the end of this time?Jane invests $700 at the end of each year for 5 years. If interest is paid at 7%/a compounded semiannually, how much will the investment be worth immediately after the last deposit is made? $28,183 $3.753 $8,211 $9,671How much Alex must deposit annually if he wants to have $800,000 in 25 years by making equal annual end-of-the-year deposits into an account paying 6% interest annually.
- Sammi deposits $12000 at the beginning of each 6-month period into a special savings account. This account will last for 7 years and pays the interest rate of 6% compounded semi-annually. What will be the balance when she closes the account in 7 years? $AnswerDaniel deposits $ 200 at the beginning of each month for 5 years in an account paying an interest rate of 10.5% compounded monthly. How much is in his account at the end of 5 years?Derek currently has S10,579.00 in an account that pays 6.00%. He will withdraw $5.474.00 every other year beginning next year until he has taken 6.00 withdrawals. He will deposit $10579.0 every other year beginning two years from today until he has made 6.0 deposits. How much will be in the account 23.00 years from today?
