Question

Herbert plans to deposit 10 year-end amounts of $4,500 each into a savings account starting in exactly 3 years from today.. If he earns 4% p.a., how much will he have after the 10th deposit? Select one: a. $52,889.46 b. $53,998.54 c. $54,027.48 d. $55,112.68

Answer #1

**Hence the correct option is c.$54,027.48**

Colin has an inheritance that promises to pay him 7 year-end
amounts of $5,000 starting exactly 2 years and 3 months from today.
If he earns 4.4% p.a., how much is the inheritance worth in
present-day dollars? Select one: a. $27,151.62 b. $28,022.03 c.
$26,841.03 d. $25,558.17

Peter has an inheritance that promises to pay him 11 year-end
amounts of $5,000 starting exactly 3 years and 3 months from today.
If he earns 4.2% p.a., how much is the inheritance worth in
present-day dollars?
Select one:
a. $39,502.38
b. $37,910.15
c. $41,154.33
d. $42,258.17

At the end of each year, you plan to deposit $3,100 in a savings
account. The account will earn 7% annual interest, which will be
added to the fund balance at year-end. The first deposit will be
made at the end of Year 1. (FV of $1, PV of $1, FVA of $1, and PVA
of $1) (Use the appropriate factor(s) from the tables
provided.)
Required:
1. Prepare the required journal entry at the
end of Year 1. (If no...

Blanca plans to make equal annual payments into a savings
account at the end of each year for 5 years. She would like to have
$28,185 at the end of 5 years in order to invest in a new fishing
boat. If the savings account earns 6%, what annual payment will be
required for Alexis to reach her goal (round to nearest
dollar)?

Michael plans to retire in 40 years. He is now trying to decide
how much to save for his retirement. He plans to deposit equal
amount at the beginning of each month in a retirement account for
40 years, with his first saving made today. Assume the retirement
account pays him an interest rate of 6.6% p.a., compounded monthly
and Michael would like to have $2,000,000 in his retirement account
40 years later
a) How much will he have to deposit...

Mr. Gonzales has made beginning-of-year deposits into an
investment account for the past 21 years. Each deposit was $5500,
and the account earned interest at a rate of 4.5% APR, compounded
quarterly, each year. Having made his last deposit one year ago, he
now plans to transfer all of the accumulated funds today into a
money-market account that earns an APR of 1.50% compounded
quarterly. If he plans to withdraw $4000 from the account at the
end of each quarter...

PS5.
Derek will deposit $936.00 per year into an account starting
today and ending in year 12.00. The account that earns 9.00%. How
much will be in the account 12.0 years from today?
Answer format: Currency: Round to: 2
decimal places.

A) A deposit of $1,100 is planned for the end of each year into
an account paying 10%/year compounded annually. The deposits were
not made for the 10th and 11th years. All other deposits were made
as planned. What amount will be in the account after the deposit at
the end of year 25?
B) Financial planners (and engineering economists)
unanimously encourage people to seek out the highest rate of return
possible within their personal level of risk tolerance. To
illustrate...

If Jackson deposits $50 at the end of each month in a savings
account earning interest at a rate of 3%/year compounded monthly,
how much will he have on deposit in his savings account at the end
of 3 years, assuming he makes no withdrawals during that period?
(Round your answer to the nearest cent.)

How much money must you deposit into a savings account at the
end of each year at 4% interest compounded annually in order to
earn $9,778.08 interest during a 20-year period?

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