Question

An inheritance of $25,00,000 is invested at 5% compounded monthly. If $25000 is withdrawn at the end of each month, how long will it be until the account balance is $0? The answer is 129.5 rounded to 130 months. I need the work to solve

Answer #1

An inheritance of $200,000 is invested at 6% compounded
quarterly. If $450 is withdrawn at the end of each quarter, how
long will it be until the account balance is $0. The answer is 73.8
rounded to 74 quarters, I need to see to the work.

1.
a) I invested $5,000 into an account earning 5% interest
compounded monthly and left it there for 5 years. After the 5 years
were up I transferred the money from that account into a new
account that earned 6% interest compounded quarterly for the next
10 years. How much total money would I have at the end of the 15
years?
b) If I had left the $5,000 in the initial account
earning 5% compounded monthly how long, to...

Jennifer has
$7,000
invested in a money market account
that pays 1.5% interest compounded monthly at the end of
each month. She makes deposits at the end of each month
of
$150
. How much will she have in the account
after 3 years?

Sophie invested $12,000 into a fund earning 6.50% compounded
monthly. She plans to withdraw $850 from the fund at the end of
every quarter. If the first annuity withdrawal is to be made 4
years from now, how long will it take for the fund to be
depleted?
Express the answer in years and months, rounded to the next
period

You can afford monthly deposits of $210 into an account that
pays 2.4% compounded monthly. How long (number of months) will it
be until you have $7,400 to buy a boat?(Round to the next-higher
month if not exact.)

You have invested money in a savings account that pays a fixed
monthly interest on the account balance. The following table shows
the account balance over the first 5 months. Time in months Savings
balance (0,$1600.00) (1,$1628.80) (2, $1658.12) (3, $1687.97) (4,
$1718.35) (5, $1749.28)
(a) How much money was originally invested? $
(b) Show that the data are exponential. (Round your answer to
three decimal places.) Each successive ratio of new/old is , which
shows that the data is...

You
can afford monthly deposits of $90 into an account that pays 2.7%
compounded monthly. How long will it be until you have $7,700 to
buy a boat?
Type the number of months:____
(round to the next-higher month if not exact.)

A couple received a $122,000 inheritance the year they turned 47
and invested it in a fund that earns 7.4% compounded semiannually.
If this amount is deferred for 15 years (until they retire), how
much will it provide at the end of each half year (in dollars) for
the next 20 years after they retire? (Round your answer to two
decimal places.)

Suppose that
$ 5,700
is invested at
5.3 %
annual interest rate, compounded monthly. How much money will be
in the account in
6 months?
24 years?

Finance. Suppose that $ 3, 300 is invested at 5.1 % annual
interest rate, compounded monthly. How much money will be in the
account in (A) 10 months? (B) 8 years?

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