Question

Axel intends to invest $15,000 each year for 6 years at an expected interest rate of...

Axel intends to invest $15,000 each year for 6 years at an expected interest rate of 7% per year. If Axel invests monthly, then he intends to invest $______ each month for ____ months at an expected interest rate of ____% per month.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. Calculate the PV of an annuity due if the periodic cash flow = $9,200, the...
1. Calculate the PV of an annuity due if the periodic cash flow = $9,200, the time frame = 5 years and the annual interest rate = 8%. 2. Calculate the PV of an ordinary annuity if the periodic cash flow = $11,000, the time frame = 4 years, and the annual interest rate = 10%. 3. Mary intends to invest $15,000 each year for 6 years at an expected interest rate of 7% per year. If Mary invests monthly,...
1. If you deposit $15,000 per year for 23 years (each deposit is made at the...
1. If you deposit $15,000 per year for 23 years (each deposit is made at the end of each year) in an account that pays an annual interest rate of 12%, what will your account be worth at the end of 23 years? 2. You plan to buy a car that has a total "drive-out" cost of $21,100. You will make a down payment of $2,321. The remainder of the car's cost will be financed over a period of 4...
Suppose a person has contributed $2,000 per year for 30 years at 6% interest rate and...
Suppose a person has contributed $2,000 per year for 30 years at 6% interest rate and then retired. The balance in the account is then used to purchase an annuity which will make a payment at the end of each month for the following 20 years, completely exhausting the account. The annuity pays 7.29% compounded monthly. What will the amount of the monthly payment be? PLEASE SHOW WORK
19. I have an opportunity to invest $20,000 today at a compound interest rate of 6.4%...
19. I have an opportunity to invest $20,000 today at a compound interest rate of 6.4% p.a compounded monthly. I intend to withdraw the total account balance when it reaches $106,000. How long do I need to hold the investment? Answer in months to two decimal places.   20. Greg makes an investment which is expected to pay 4% p.a. interest, compounded annually. He invests $4,000 today. The value of the investment at the end of nine years, if you make...
What is the present value of $200 to be received two years from now, with an...
What is the present value of $200 to be received two years from now, with an interest rate of 5%? You deposit $2000 today at 6% interest. How much will you have in 5 years? You invest $5,000 today. You will earn 8% interest. How much will you have in 4 years? You have $450,000 to invest. If you think you can earn 7%, how much could you accumulate in 10 years? You deposit $300 each year for 15 years...
You invest $1,300 at a 6% annual interest rate, stated as an APR. Interest is compounded...
You invest $1,300 at a 6% annual interest rate, stated as an APR. Interest is compounded monthly. How much will you have in 1 year? In 1.5 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
suppose you invest £105 savings at the start of each month with interest paid monthly and...
suppose you invest £105 savings at the start of each month with interest paid monthly and compounded with a savings rate of 3%. Work out total savings for 6 and 12 months. Must use formulae for compound interest and Geometric series to calculate total investment
6. You are planning to invest $2,500 today for three years at a nominal interest rate...
6. You are planning to invest $2,500 today for three years at a nominal interest rate of 9 percent with annual compounding. a. What would be the future value of your investment? b. Now assume that inflation is expected to be 3 percent per year over the same three-year period. What would be the investment’s future value in terms of purchasing power? c. What would be the investment’s future value in terms of purchasing power if inflation occurs at a...
David decided to invest an amount of money in a bank that pays 20.00% nominal interest,...
David decided to invest an amount of money in a bank that pays 20.00% nominal interest, compounded monthly, to provide him with an annuity of $10,800 (per year) for 6 years, starting 12 years from now. If the interest rate remains constant over this entire period. What amount should he invest?
You want to invest $15,000 in government securities for the next two years. You can either...
You want to invest $15,000 in government securities for the next two years. You can either invest in a security that pays an interest rate of 7.5% per year for the next two years, or invest in a security that matures in one year but pays 5.5%. If you decide to invest in the security that matures in one year, you would then reinvest your savings for another one year. What should be the one year interest rate next year...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT