Question

Future Value of an Annuity: Stone will deposit $9,000 at the end of each year for...

Future Value of an Annuity:

Stone will deposit $9,000 at the end of each year for 10 years in a fund that earns 6%, compounded annually. What is the total amount of the fund at the end of 10 years?

Please show formula and work!

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Find the future value of an annuity of $1800 paid at the end of each year...
Find the future value of an annuity of $1800 paid at the end of each year for 5 years, if interest is earned at a rate of 5%, compounded annually. (Round your answer to the nearest cent.)
What is the future value of an annuity of 11 deposits of $6,447 at the end...
What is the future value of an annuity of 11 deposits of $6,447 at the end of each year with a nominal rate of interest of 6%, compounded continuously, in 21 years?
You deposit $4,000 in the bank at the end of each year for 30 years. If...
You deposit $4,000 in the bank at the end of each year for 30 years. If the bank pays interest of 5.25% per annum, what amount will you have accumulated if interest is compounded: a. Annually b. Semi-Annually c. Quarterly d. Monthly e. Daily Please show all your work and explain your answers.
What is the future value of $5,000 set aside each year for 20 years at 10%...
What is the future value of $5,000 set aside each year for 20 years at 10% compounded annually? What is the total investment income for the period? show work
) What is the future value at the end of year 13 of a series of...
) What is the future value at the end of year 13 of a series of deposits that starts at $6,000 in year 1 and shrinks by 7% per year for 13 years (last deposit occurs at the end of year 13)? The annual interest rate is 7% compounded annually. please answer in excel
A) Suppose payments were made at the end of each quarter into an ordinary annuity earning...
A) Suppose payments were made at the end of each quarter into an ordinary annuity earning interest at the rate of 10% per year compounded quarterly. If the future value of the annuity after 5 years is $50,000, what was the size of each payment? B) The Pirerras are planning to go to Europe 3 years from now and have agreed to set aside $150/month for their trip. If they deposit this money at the end of each month into...
Calculate the future value of the following annuity streams: a. $4,000 received each year for 6...
Calculate the future value of the following annuity streams: a. $4,000 received each year for 6 years on the last day of each year if your investments pay 5 percent compounded annually. b. $4,000 received each quarter for 6 years on the last day of each quarter if your investments pay 5 percent compounded quarterly. c. $4,000 received each year for 6 years on the first day of each year if your investments pay 5 percent compounded annually. d. $4,000...
Future Value Computation You deposit $4,000 at the end of every year for 4 years. How...
Future Value Computation You deposit $4,000 at the end of every year for 4 years. How much will accumulate in 4 years if you earn 6% compounded annually? Use Excel or a financial calculator for computation. Round your answer to nearest dollar.
​(Future value of an ordinary​ annuity) What is the future value of ​$480 per year for...
​(Future value of an ordinary​ annuity) What is the future value of ​$480 per year for 8 The future value of ​$480 per year for 8 years compounded annually at 11 percent is ​$nothing. ​(Round to the nearest​ cent.)
You want to deposit an equal amount of money every year at the end of each...
You want to deposit an equal amount of money every year at the end of each of the next 30 years into an account that pays 6.5% annually compounded interest, in order to be able to retire comfortably. During your retirement years, you want to have the ability to withdraw at the end of each of the 15 years, the amount of $32,000. During your retirement years, you will keep your money in an account that earns 3% annually compounded...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT