Question

1. Derek currently has $11,028.00 in an account that pays 6.00%. He will withdraw $5,835.00 every other year beginning next year until he has taken 7.00 withdrawals. He will deposit $11028.0 every other year beginning two years from today until he has made 7.0 deposits. How much will be in the account 26.00 years from today?

**Answer format:** Currency: Round to: 2
decimal places.

2. Derek can deposit $293.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 14.00% and compounds interest monthly. Derek can deposit $2,462.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years?

**Answer format:** Percentage Round to: 4
decimal places (Example: 9.2434%, % sign required. Will accept
decimal format rounded to 6 decimal places (ex: 0.092434))

*3.* Suppose you deposit $1,027.00 into an account 4.00
years from today that earns 12.00%. It will be worth $1,802.00
_____ years from today.

**Answer format:** Number: Round to: 2 decimal
places.

Answer #1

1)

Derek currently has $11,714.00 in an account that pays 5.00%. He
will withdraw $5,458.00 every other year beginning next year until
he has taken 4.00 withdrawals. He will deposit $11714.0 every other
year beginning two years from today until he has made 4.0 deposits.
How much will be in the account 22.00 years from today?
Answer format: Currency: Round to: 2
decimal places.
Derek can deposit $294.00 per month for the next 10 years into
an account at Bank A....

1. Derek currently has $12,393.00 in an account that pays 6.00%.
He will withdraw $5,548.00 every other year beginning next year
until he has taken 5.00 withdrawals. He will deposit $12393.0 every
other year beginning two years from today until he has made 5.0
deposits. How much will be in the account 26.00 years from
today?
2. Derek can deposit $258.00 per month for the next 10 years
into an account at Bank A. The first deposit will be made...

Derek currently has $13,772.00 in an account that pays 6.00%. He
will withdraw $5,561.00 every other year beginning next year until
he has taken 6.00 withdrawals. He will deposit $13772.0 every other
year beginning two years from today until he has made 6.0 deposits.
How much will be in the account 27.00 years from today? Answer
format: Round to 2 decimal places

Derek currently has $11,305.00 in an account that pays 4.00%. He
will withdraw $5,156.00 every other year beginning next year until
he has taken 6.00 withdrawals. He will deposit $11305.0 every other
year beginning two years from today until he has made 6.0 deposits.
How much will be in the account 30.00 years from today? round
answer 2 decimal places

Derek currently has $14,222.00 in an account that pays 6.00%. He
will withdraw $5,045.00 every other year beginning next year until
he has taken 5.00 withdrawals. He will deposit $14222.0 every other
year beginning two years from today until he has made 5.0 deposits.
How much will be in the account 22.00 years from today?

Derek currently has $13,984.00 in an account that pays 6.00%. He
will withdraw $5,752.00 every other year beginning next year until
he has taken 8.00 withdrawals. He will deposit $13984.0 every other
year beginning two years from today until he has made 8.0 deposits.
How much will be in the account 25.00 years from today?

Derek currently has $12,640.00 in an account that pays 6.00%. He
will withdraw $5,725.00 every other year beginning next year until
he has taken 7.00 withdrawals. He will deposit $12640.0 every other
year beginning two years from today until he has made 7.0 deposits.
How much will be in the account 27.00 years from today?

Derek currently has $12,640.00 in an account that pays 6.00%. He
will withdraw $5,725.00 every other year beginning next year until
he has taken 7.00 withdrawals. He will deposit $12640.0 every other
year beginning two years from today until he has made 7.0 deposits.
How much will be in the account 27.00 years from today?

Derek currently has $10,906.00 in an account that pays 6.00%. He
will withdraw $5,571.00 every other year beginning next year until
he has taken 6.00 withdrawals. He will deposit $10906.0 every other
year beginning two years from today until he has made 6.0 deposits.
How much will be in the account 22.00 years from today? WITH
CALCULATOR

Derek currently has $11,449.00 in an account that pays 6.00%. He
will withdraw $5,445.00 every other year beginning next year until
he has taken 4.00 withdrawals. He will deposit $11449.0 every other
year beginning two years from today until he has made 4.0 deposits.
How much will be in the account 23.00 years from today?

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