Amishi deposited $600, at the end of each six months for 19 years in a savings account. If the account paid 4% interest, compounded semiannually, use the appropriate formula to find the future value of her account. (Round your answer to the nearest cen
Q: A man deposited $10,000 in a savings account when his son was born. The nominal interest rate was 8%…
A: The future value t is the estimated value of the deposit on a future date with an estimated interest…
Q: Kim deposits $1,000 in a savings account. Four years after the deposit, half the account balance is…
A: Compounding is a technique through which future value of present amount is computed at given rate of…
Q: Laura deposited $1,100 at the end of every month into an RRSP for 6 years. The interest rate earned…
A: Future Value of Annuity formula will be used to calculate the value of monthly instalments at the…
Q: Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n…
A: Future value of present sum depends on whether it is simple interest or compounded…
Q: Amishi deposited $800, at the end of each six months for 19 years in a savings account. If the…
A: The future value of an annuity is the value of a series of equal payments each period calculated at…
Q: Jane Adele deposits $1,700 in an account at the beginning of each 3-menth period for 12 years. If…
A: If the amount is deposited at end of each period, then such annuity is called ordinary annuity. If…
Q: Shelley Katz deposited $30,000 in a savings account at 5% interest compounded semiannually. At the…
A: Present value is the current worth of the future expected cash flows that an investor obtain from…
Q: Sammi deposits $12000 at the beginning of each 6-month period into a special savings account. This…
A: Annuity due refers to the series of equal payments that are made at the beginning of each period at…
Q: Thomas's retirement fund has an accumulated amount of $55,000. If it has been earning interest at…
A: Accumulated Value in retirement Account "FV" is $55,000 Interest rate is 2.44% Compounded monthly…
Q: Sophia deposits 130,000 pesos at the end of each year in a savings account that pays a nominal rate…
A: Compounding that is constant is referred to as continuous compounding. Some people imagine…
Q: If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much…
A: Business loan = $205,000.00 Interest Rate = 4.67% compounded semi-annually Time Period = 30 Years
Q: Since the birth of his granddaughter, 18 years ago, Luis has deposited $250 at the beginning of…
A:
Q: Lauren deposited $1,200 at the end of every month into an RRSP for 7 years. The interest rate earned…
A: Deposit = 1200 per month END OF PERIOD DEPOSITS Time Period = 7 Years × 12 = 84 Months Semi…
Q: Edward borrowed an amount to his friend and promised to pay the principal amount and accumulated…
A: Let the amount borrowed be "x" Simple rate = 15.118% Amount paid at the end of 3 years = P15.855.…
Q: value of the investment after 5 years b) How much interest was earned
A: An annuity is the fixed amount that is deposited at a fixed interval of time over a predetermined…
Q: What is the interest on interest if interest is compounded
A: Calculate the compound interest amount as follows:- Total amount after 3 years =P x (1+R/100)n…
Q: Jasmine invested a certain amount in a bank compounded semi-anually. The bank told her that the…
A: First we need to calculate the interest rate. Given, Amount will be doubled in 5 years and it is…
Q: Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the…
A: Future value (FV) refers to the sum value of current assets of the company which is evaluated at a…
Q: At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8%…
A: Using FV function of excel
Q: On Juan’s 26th birthday, he deposited $7,500 in a retirement account. Each year thereafter he…
A: formula for future value of annuity growth: FVAG=Pr-g×1+rn-1+gnwhere,p=first paymentr=rate of…
Q: Julia Roberts deposits 4600 dollars in an account paying an effective rate of interest of 5.2…
A: Simple Interest formula is Amount = Principal + (Principal*rate*time)
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The future value of an investment is the amount accumulated in the account after a period of time.…
Q: Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the…
A: The value of money differs with the time passage and the value of it at present is worth more than…
Q: An individual makes five annual deposits of $2,000 in a savings account that pays interest at a rate…
A: Interest is the amount which is calculated on the amount of borrowings or finance. The amount of…
Q: Alexandra had a balance of $2,000 in her RRSP. In addition to this, she invested $300 at the end of…
A: Given,
Q: Quinn opened an account with an initial deposit of $2500. At the end of the 2nd and 8th years, he…
A: Initial Deposit = $2500 2nd Year Deposit = $3,000 8th Year Deposit = $5,050 Withdraw = $3,000…
Q: An individual makes five annual deposits of Php 2,000 in a savings account that pays interest at a…
A: Given: Number of annual deposits "n"= 5 Amount of annual deposits "PMT"= 2000 Rate per year during…
Q: Mohammed deposited RO25,000 in a savings account at 9% interest compounded semi-annually. At the…
A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per periodn = no. of compounding…
Q: Lucas made a single deposit into a savings account. At the end of saving for 18 years, Lucas has…
A: We need to use continuous compounding formula to solve this problem A=P(e)rn where A=future…
Q: Minu deposits $950 at the end of each quarter for 6 years in an account that earns 1.8% per year…
A: As the number of compounding period increase than the effective interest rate increases and more…
Q: Samantha deposits $1,500 into the Park Street Bank. The account pays 1.12% annual interest,…
A: To determine the future value of $1500 after 3 non leap years at 1.12% annual interest, compounded…
Q: Mrs. Santos deposits P5,500 at the end of every six months in a savings account for her daughter's…
A: Deposit = 5500 every 6 months End of month deposits Interest rate = 4% semi annual period N = 21…
Q: Kia deposited $1,200, at the beginning of each year for 30 years in a credit union account. If the…
A: The series of payments to be paid at the beginning of every period is called annuity due.
Q: Natalia makes a deposit of $2,000 into a savings account at the end of the 1st year and another one…
A: Here, Deposit in year 1 and 3 by Natalia is $2,000 Deposit in Year 2 and 4 by Manuel is $2,000…
Q: how much will she have in her account after 11 years
A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…
Q: Your sister placed her graduation gifts amounting to P25,000 in a special savings account that…
A: Principal amount (P)= P25,000 Interest rate (R)= 2% Time period (T)= 8 months= 8/12= 0.67
Q: Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much…
A: This question is from time value of money. It is the concept that money you have now is worth more…
Q: Gabrielle obtained a business loan of $245,000.00 at 4.03% compounded semi-annually, how much should…
A: Loans are paid by the periodic payments that carry the payment for interest and payment for…
Q: Moxie Fox deposited $30,000 in a savings account at 6% interest compounded semiannually. At the…
A: As period goes on compounding interest increases with more compounding during the period.
Q: ica deposits her annual business profit into a savings account that pays 7% interest compounded…
A: Future Value refers to the value of the current asset or investment or cash flows at a specified…
Q: Lee Holmes deposited $15,300 in a new savings account at 8% interest compounded semiannually. At the…
A: Given Information: Amount deposited - $15,300 Rate of interest - 8% compounded semiannually Amount…
Q: Elin purchased a used car for $9,500. She wrote a check for $2,000 as a down payment for the car…
A: In this question Elin purchased a car for $ 9500 and pay down payment of $ 2000 & for balance of…
Q: Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the…
A: Annuity means finite no. of payments which are same in size and made in equal intervals for the…
Q: Jordan purchased an annuity that had an interest rate of 4.00% compounded semi-annually. It provided…
A: In this we need to calculate effective rate and than find out present value factor and from that we…
Q: In 6 years, Mrs. Fong must pay off a note with a face value of $14,000, and interest of 10% per…
A: Solution: 9 Face value of notes $14,000 Interest rate semiannually (10% / 2) 5% Period (6…
Q: ohn deposits Ghs|250 at the of each month for 5 years account that credits interests at a nominal…
A: Annuity means where regular payment is made at the end of regular period and full amount with…
Q: Direction: Compute the annual interest, total interest, and amount to be received or paid at the end…
A: Principal amount (P)= P25,000 Interest rate (R)= 2% Time period (T)= 8 months= 8/12= 0.67
Q: Irene makes six annual deposits of $2,000 in a savings account that pays interest at a rate of 4%…
A: Annual deposit (PMT) = $2,000 Interest rate = 4% Number of periods = 6
Q: Jennie invested a certain amount in a bank compounded semi-anually.The bank told her that the…
A: Solution:- When an amount is deposited somewhere, it earns interest on it. The amount invested is…
Q: Yolanda deposited $1,200 at the end of each six months for 2 years in a savings account. If the…
A: The question is based on the concept of Annuity
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- 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. 2,0000.9264Yolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the account paid 4% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.)Kia deposited $1,200, at the beginning of each year for 30 years in a credit union account. If the account paid 12% interest, compounded annually, use the appropriate formula to find the future value of her account.
- Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) qu Need Help? Read It Watch It Master ItShiraz deposited $500 at the end of each year for 18 years in a savings account. If the account paid 5% interest, compounded annually, find the future value of his account.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
- Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86Lorna deposited $1,400, at the beginning of every six months for 13 years, in an account at her credit union. If the account paid 8% interest, compounded semiannually, use Table 12-1 from your text to find the future value of her account. $58,304.27 $62,036.44 $64,517.90 $69,954.62At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Judy have accumulated? Round the answer to the nearest cent. A. $1823.20 B. $1920.96 C. $1930.25 D. $2072.31 .....
- Gilberto opened a savings account for his daughter and deposited $1000 on the day she was born. Each year on her birthday, he deposited another $1000. If the account pays 11% interest, compounded annually, how much is in the account at the end of the day on her 12th birthday? At the end of the day on her 12th birthday, the amount in the account is $ (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.)To prepare for his retirement in 13 years, Tekla deposited 10,000 in an account paying 9%. Nine years after, he deposited another 10,000. How much will be available at his retirement?* Find the simple interest earned in an account where 5,000 is on deposit from March 14, 2020 to your birthday next year at 5%. Write your birthday. Use all methods discussed.* For what rate it is possible for a deposit of 40,000 to earn 8,400 in simple interest if the money is to be left on deposit for 5½ years?* Find the principal necessary to earn 500 in simple interest if the money is to be left on deposit for 5 years and earns (A) 8.5%; (B) 8%; (c) 7.5%.* Michelle signs a note for 2,000 due in 9 months at 3%. Three months after the note is signed, the holder of the note sells it to Donita who charges 3.5%. How much does the holder receive?* Tekla owes 100 due in 5 months and 700 due in 9 months. What single payment in 6 months will discharge these obligations if the settlement is based on an interest…Imelda opens a savings account with $12,000, which pays an annual interest rate of 7.8%. If she reinvests the generated interest every month and also deposits $2,300 each month, how much will be in the account after 2 years? The interest is reinvested on the same day as the $2,300 deposit. Otions: 69177.89 71052.15 73548.61 70524.79