Question

How much should be deposited into an account today if it is to accumulate to $2700...

How much should be deposited into an account today if it is to accumulate to $2700 in 6 years if the account earns interest at the nominal annual rate of 4% compound monthly? Round your answer to two decimal places.

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
How much money must be deposited in saving account each month to accumulate $25,000 at the...
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 ?
How much money must be deposited in saving account each month to accumulate $25,000 at the...
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 a. monthly ? b. quarterly ?
How much will accumulate in an Individual Retirement Account (IRA) in 15 years if $5000 is...
How much will accumulate in an Individual Retirement Account (IRA) in 15 years if $5000 is deposited in the account at the end of each quarter during that time? The account earns 8% annual interest, compounded quarterly.
Q1) Suppose you invest $66,624 today in an account that earns 13.00% interest annually. How much...
Q1) Suppose you invest $66,624 today in an account that earns 13.00% interest annually. How much money will be in your account 11 years from today? Q2) What is the value today, of single payment of $51,252 made 13 years from today, if the value is discounted at a rate of 04.00%? Q3) How many years would it take an investment of $333 to grow to $10,789 at an annual rate of return of 11.00%? Q4) How much money would...
How much must be deposited today into the following account in order to have $40,000 in...
How much must be deposited today into the following account in order to have $40,000 in 6 years for a down payment on a house? Assume no additional deposits are made. An account with a monthly compounding and an APR of 4%
If you deposit today $6,929 in an account for 6 years and at the end accumulate...
If you deposit today $6,929 in an account for 6 years and at the end accumulate $26,193, how much compound interest rate (rate of return) you earned on this investment ?
How much must be deposited into an account to accumulate to $32,000 at 7% compounded semiannually...
How much must be deposited into an account to accumulate to $32,000 at 7% compounded semiannually a. at the beginning of each year for 20 years? __________ b. at the end of each month for 20 years? __________ c. If you wish to maximize the amount of interest earned, which option would you prefer?
A woman deposited $ 1000 in her bank account. The money remained on the account for...
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 will be in an account into which $500 per month is deposited for...
How much money will be in an account into which $500 per month is deposited for 8 years, if the interest rate is 6% compounded monthly?
A. Suppose you invest $83736 today in an account that earns 13% interest annually. How much...
A. Suppose you invest $83736 today in an account that earns 13% interest annually. How much money will be in your account 7 years from today? B. What is the value today of single payment of $36665, 18 years from today if the value is discounted at a rate of 19%? C. How many years would it take an investment of $172 to grow to $18096 at an annual rate of return of 15%? D. How much money would you...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT