Question

You have an account with annual interest rate 6% compounded monthly. You will deposit $120 at the end of each month for 10 years into this account, leave the account untouched for 5 years, and then withdraw equal amounts at the end of each month for the following 15 years, ending with a balance of $15,000. What will your monthly withdrawals be?

Answer #1

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1) You deposit $500 each month into an account earning 3%
interest compounded monthly.
a) How much will you have in the account in 25 years?
b) How much total money will you put into the account?
c) How much total interest will you earn?
2) Suppose you invest $190 a month for 6 years into an account
earning 7% compounded monthly. After 6 years, you leave the money,
without making additional deposits, in the account for another 21
years....

An account pays an annual rate of 8% percent compounded monthly.
What lump sum must you deposit into the account now so that in 10
years you can begin to withdraw $4000 each month for the next 20
years, drawing down the account to zero?

1. If you deposit $6,500 into an account paying 8% annual
interest compounded monthly, how much money will be in the account
after 7 years?
2. If you deposit $5,000 into an account paying 6% annual
interest compounded monthly, how long until there is $8,000 in the
account?
3. At 3% annual interest compounded monthly, how long will it
take to double your money?

6. You deposit $400 each month into an account earning 5%
interest compounded monthly.
a) How much will you have in the account in 35 years?
b) How much total money will you put into the account?
c) How much total interest will you earn?
7. Suppose you want to have $500,000 for retirement in 25 years.
Your account earns 7% interest.
a) How much would you need to deposit in the account each
month?
b) How much interest will...

You deposit $300 each month into an account earning 2% annual
interest compounded monthly
A. How much money will you have in your account in 35 years?
B. How much total money will you put into the account ?
C. How much total interest will you earn?

If you deposit $2000 in a savings account that pays an interest
equal to 6% Compounded continuously. Whats the balance at the end
of 3 years?

You want to make equal deposits at the end of each month for 10
years into an account with annual interest rate 8% compounded
monthly, and then withdraw $200 at the end of each month for the
following 15 years, ending with a zero balance. How much do your
monthly deposits need to be?

"If you deposit $1400 per MONTH into an account that earns an
ANNUAL nominal interest rate of 11%, compounded monthly, how much
money will you have in 10 years?"

FINANCE
5.
5A.
You deposit $5000 in an account earning 8% interest compounded
monthly. How much will you have in the account in 15
years?
5B.
You can afford a $350 per month car payment. You've found a 3
year loan at 2% interest. How big of a loan can you
afford?
5C.
You have $300,000 saved for retirement. Your account earns 5%
interest. How much will you be able to pull out each month, if you
want to be...

You deposit $2000 in an account earning 3% interest compounded
monthly
How much will you have in the account in 20 years?
How much interest will you earn?
You deposit $10,000 in an account earning 4% interest compounded
monthly.
How much will you have in the account in 25 years?
How much interest will you earn?

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