After 6 years from today, what will be the purchasing power of the money in your bank account, expressed in today's dollars? Your bank pays interest at 2.5000% compounded yearly and inflation is expected to be 1.1250% per year.
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- You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264You will deposit money into a bank account according to the following schedule: today $425,000 1 year from today $55,000 11 years from today $56,500 17 years from today $22,000 $124,300 19 years from today After 19 years from today, what will be the purchasing power of the money in your bank account, expressed in today's dollars? Your bank pays interest at 4.0000% compounded yearly and inflation is expected to be 3.5000% per year.
- K You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns 7% interest per year, what will be the balance in the account right after you make the second deposit? ... The balance in the account right after you make the second deposit will be $ (Round to the nearest dollar.)Suppose that you deposit $750 into a bank account today. If the bank pays 8 percent APR per year, compounded quarterly, how much will be in the account at the end of 4 years.A. $812 84B. $750.00C. $1,029.59D. $927.52E. $1.020.37You have $200.00 in your bank account today. Your bank offers a nominal annual rate of 16%, compounded quarterly. Assuming you do not make any deposits or withdrawals, how much total money do you expect to have in your bank account 8 years from now? A $61 B $702 C $656 D $274 E $57
- 1. Your goal is to have $10,000 in your bank account by the end of eight years. If the interest rate remains constant at 10% and you want to make annual identical deposits, what amount will you have to deposit into your account at the end of each year to reach your goal? $787.00 $961.88 $874.44 $612.11 2. If your deposits were made at the beginning of each year rather than an at the end, what is the amount your deposit would change by if you still wanted to reach your financial goal by the end of eight years? $75.52 $99.38 $67.58 $79.50Your goal is to have $12,500 in your bank account by the end of eight years. If the interest rate remains constant at 8% and you want to make annual identical deposits, how much will you need to deposit in your account at the end of each year to reach your goal? (Note: Round your answer for PMT to two decimal places.) $1,292.71 $1,175.19 $940.15 $822.63If your deposits were made at the beginning of each year rather than an at the end, by how much would the amount of your deposit change if you still wanted to reach your goal by the end of eight years? (Note: Round your answer for PMT to two decimal places.) $87.05 $82.70 $108.81 $65.29Find the equivalent present worth of the cash receipts in the accompanyingdiagram, where i = 8% compounded annually. In other words, how much doyou have to deposit now (with the second deposit in the amount of $600 at the end of the first year) so that you will be able to withdraw $300 at the end of the second year through the fourth year, and $800 at the end of the fifth year, where the bank pays you 8% annual interest on your balance?