Question

How much money should be deposited annually in a bank account for five years if you wish to withdraw $5,500 each year for three years, beginning five years after the last deposit? The interest rate is 5% per year.

Answer #1

How much money should be deposited annually in a bank account
for five years if you wish to withdraw $5,000 each year for three
years, beginning five years after the last deposit? The interest
rate is 3% per year

How much will be in an account at the end of five years the
amount deposited today is $10,000 and interest is 8% per year,
compounded semi-annually?

4. How much money needs to be deposited into a certificate of
deposit (CD) account to be able to withdraw 50,000.00 from the
account at the end of 10 years if the interest rate is 2%
compounded monthly?

Fifteen years ago, you deposited $12,500 into an investment
fund. Five years ago, you added an additional $20,000 to that
account. You earned 8%, compounded semi-annually, for the first ten
years, and 6.5%, compounded annually, for the last five years.
Required:
a) What is the effective annual interest rate (EAR) you would
get for your investment in the first 10 years?
b) How much money do you have in your account today?
c) If you wish to have $85,000 now,...

Fifteen years ago, you deposited $12,500 into an investment
fund. Five years ago, you added an additional $20,000 to that
account. You earned 8%, compounded semi-annually, for the first ten
years, and 6.5%, compounded annually, for the last five years.
Required: 1. a) What is the effective annual interest rate (EAR)
you would get for your investment in the first 10 years?
2. b) How much money do you have in your account today?
3. c) If you wish to...

5. Steven has just deposited $ 10,000 in a bank
account that has
a 12 percent monthly interest rate.
How much will there be in the
account within three years?
6. Suppose you borrow $ 10,000 for four years at 18
interest cent. How much will the monthly payment of the
loan?
7. You want to withdraw $ 3,000 annually for three years, if the
rate of
interest is 8
percent biannually, how...

A woman deposited $ 1000 in her bank account. The money remained
on the account for 10 years. During the first 5 years, the monthly
compound processed an annual nominal 15% interest. After this
period, the bank changed its interest policy and quarterly compound
processed 18% nominal interest rate annually. Calculate the money
accumulated in the account after 10 years.

How much money must be deposited in saving account each month to
accumulate $25,000 at the end of 6 years , if the bank pays
interest at the rate of 8% per year compounded Monthly? Quarterly
?

If you deposit $9,000 in a bank account that pays 4% interest
annually, how much will be in your account after 5 years? Round
your answer to the nearest cent.

You have deposited $10,000 in a bank earning interest at 7% p.a.
compounded quarterly for four years and five months. At that time,
the interest rate changes to 6% p.a. compounded monthly. What is
the value of the deposit three years after the change in the rate
of interest?
What nominal annual rate compounded quarterly is equivalent to
7.5% p.a. compounded monthly?
You have decided to deposit $500 in the Montreal bank at the end
of each quarter for seven...

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