Question

Derek will deposit $3,997.00 per year for 13.00 years into an account that earns 12.00%. Assuming the first deposit is made 5.00 years from today, how much will be in the account 31.00 years from today? round 2 decimals

Answer #1

Value at year 4 = Annuity * [1 - 1 / (1 + r)^n] / r

Value at year 4 = 3997 * [1 - 1 / (1 + 0.12)^13] / 0.12

Value at year 4 = 3997 * [1 - 0.229174] / 0.12

Value at year 4 = 3997 * 6.423548

Value at year 4 = 25,674.92302

Value today = Future value / (1 + r)^n

Value today = 25,674.92302 / (1 + 0.12)^4

Value today = 25,674.92302 / 1.573519

Value today = 16,316.8774

Value in 31 years = Present value (1 + r)^n

Value in 31 years = 16,316.8774 (1 + 0.12)^31

Value in 31 years = 16,316.8774 * 33.555113

**Value in 31 years = $547,514.66**

Derek will deposit $3,768.00 per year for 13.00 years into an
account that earns 13.00%. Assuming the first deposit is made 6.00
years from today, how much will be in the account 37.00 years from
today?

Derek will deposit $3,269.00 per year for 13.00 years into an
account that earns 8.00%. Assuming the first deposit is made 6.00
years from today, how much will be in the account 32.00 years from
today?

1.Derek will deposit $3,788.00 per year for 14.00 years into an
account that earns 12.00%. Assuming the first deposit is made 6.00
years from today, how much will be in the account 33.00 years from
today?
2.Derek will deposit $6,480.00 per year for 11.00 years into an
account that earns 8.00%, The first deposit is made next year. He
has $12,685.00 in his account today. How much will be in the
account 43.00 years from today?

Derek will deposit $3,816.00 per year for 9.00 years into an
account that earns 12.00%. Assuming the first deposit is made 6.00
years from today, how much will be in the account 37.00 years from
today?

Derek will deposit $4,576.00 per year for 15.00 years into an
account that earns 10.00%. Assuming the first deposit is made 6.00
years from today, how much will be in the account 37.00 years from
today?

Derek will deposit $1,880.00 per year for 15.00 years into an
account that earns 8.00%. Assuming the first deposit is made 7.00
years from today, how much will be in the account 36.00 years from
today?

Derek will deposit $4,641.00 per year for 28.00 years into an
account that earns 14.00%. The first deposit is made next year. How
much will be in the account 28.0 years from today?
Answer format: Currency: Round to: 2
decimal places.

Derek will deposit $9,231.00 per year for 30.00 years into an
account that earns 11.00%, The first deposit is made next year. How
much will be in the account 37.00 years from today?
Submit
Answer format: Currency: Round to: 2
decimal places

Derek will deposit $6,593.00 per year for 26.00 years into an
account that earns 14.00%, The first deposit is made next year. He
has $12,195.00 in his account today. How much will be in the
account 49.00 years from today?
Answer format: Currency: Round to: 2 decimal places.

Derek will deposit $2,211.00 per year for 22.00 years into an
account that earns 8.00%. The first deposit is made today. How much
will be in the account 22.0 years from today? Note that he makes
22.0 total deposits.
Answer format: Currency: Round to: 2
decimal places.

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 2 minutes ago

asked 11 minutes ago

asked 13 minutes ago

asked 21 minutes ago

asked 28 minutes ago

asked 40 minutes ago

asked 45 minutes ago

asked 53 minutes ago

asked 53 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago