Question

What single deposit of size $X into a fund paying 5% compounded annually is required at...

What single deposit of size $X into a fund paying 5% compounded annually is required at t = 0 in order to make withdrawals of $630 each at t = 4, 5, 6, and 7 and a single withdrawal of $1,590 at t = 10?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

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
1. What single deposit of size $X into a fund paying 4% compounded annually is required...
1. What single deposit of size $X into a fund paying 4% compounded annually is required at t = 0 in order to make withdrawals of $810 each at t = 4,5,6, and 7 and a single withdrawal of $1020 at t = 10? $ 2. Using a 4% annual compound interest rate, what investment today is needed in order to withdraw $4,000 annually a). for 10 years? $ b). for 10 years if the first withdrawal does not occur...
10. Each year for 5 years, a deposit is made for $500.00 into a fund paying...
10. Each year for 5 years, a deposit is made for $500.00 into a fund paying 6 percent interest per year. How much will be accumulated in the fund at t = 5, and at t = 10?
Stacy Alvarez is investing $381,500 in a fund that earns 11% interest compounded annually. Click here...
Stacy Alvarez is investing $381,500 in a fund that earns 11% interest compounded annually. Click here to view factor tables What equal amounts can Stacy withdraw at the end of each of the next 16 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Yearly withdrawals $ Chris Inc. will deposit $56,600 in a 11% fund at the end of each year for 7 years beginning December 31, 2020. Click...
If $38000 is put in a savings account paying interest of 5% compounded annually, what amount...
If $38000 is put in a savings account paying interest of 5% compounded annually, what amount will be in the account at the end of 5 years? 1- $30878 2- $47500 3- $48120 4- $48499
A man aged 30 deposits $500 at the end of each month for 35 years into...
A man aged 30 deposits $500 at the end of each month for 35 years into a registered retirement savings account fund paying interest at 4% compounded annually. Starting on his 65th birthday, he makes 120 equal monthly withdrawals from the fund at the beginning of each month. During this period, the fund pays interest at 7% compounded annually. Calculate the amount of each withdrawal (annuity payment). A timeline may assist you in solving this calculation. (10 points)
1. If you deposit $1600 into an account paying 8% compounded monthly, how much will you...
1. If you deposit $1600 into an account paying 8% compounded monthly, how much will you have in 4 years? 2. if you deposit $1600 in an account paying 8% today and deposit $1600 every year into the account, how much will you have in 4 years? 3. The average price for a new car today is $29000. If the rate of inflation is expected to be 3.5% annually, what will a new car cost in 7 years? 4. You...
1. For the next 6 years, you pan to make equal quarterly deposits of $600.00 into...
1. For the next 6 years, you pan to make equal quarterly deposits of $600.00 into an account paying 8% compounded quarterly. How much will be the total you have at the end of the time? 2. How much money will you have to deposit now if you wish to have $5,000 at the end of 8 years. Interest is to be at the rate of 6% compounded semiannually? 3. In the California “Million Dollar Lottery” a winner is paid...
Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years...
Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years 1 and 2, and thereafter a continuous rate δ(t) = 2/(t + 1) (t ≥ 0). What is the value of the account after 5 years? Problem 1.11 Suppose an initial investment of $100 grows according to the accumulated amount function A(t) = 100(1 + 0.05t) (t ≥ 0). (a) Find the effective rate of interest earned during the 5th year i5. (b) Find...
What size donation should a person make to a scholarship fund in order for $600 annual...
What size donation should a person make to a scholarship fund in order for $600 annual scholarships to be awarded forever if the first scholarship is give out at the end of the first year? The scholarship fund earns 5.25% compounded annually.
You deposit $10,000 annually into a life insurance fund for the next 10 years, after which...
You deposit $10,000 annually into a life insurance fund for the next 10 years, after which time you plan to retire. a. If the deposits are made at the beginning of the year and earn an interest rate of 6 percent, what will be the amount in the retirement fund at the end of year 10? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))   Future value $    b. Instead of a lump sum, you...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT