Find the accumulated value of an investment of $32,000 for 7 years at an interest rate of 4.2% if the money is compounded monthly. Round to the nearest cent. DO NOT use a dollar sign.
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- You decide to invest $7,500 into an account that pays 1.1% annual compound interest. Write an equation for the balance of the account (B) after t years.What is the future value of $400 deposited for one year earning an interest rate of 9 percent per year? (Do not round intermediate calculations. Enter your answer as a whole number.)You wish to receive an annuity of $1,000 at the end of each quarter for 5 years. The quarterly interest rate (not the annual interest rate) is 2.5%. How much will you have to invest? (Hint: Looking for present value) Entering your answer: . No dollar signs. . Round to the nearest cent (2 decimal places) . Use commas as appropriate. Only enter the numerical value, no variables, no equal signs
- You deposit $650 in an account paying 7.8% simple interest. Find the future value of the investment after 3 years. (Round your answer to two decimal places.)Use the TVM Calculator to solve the following compound interest problem. Round your result to two decimal places as needed.You invest $15,000in an account. The interest is compounded monthly at an annual rate of 10.6%. The ending account balance will be $81,174.68. How many months was the investment accruing interest?Enter the values you need to put in the TVM calculator. Put the letter xfor the unknown value. Remember that money paid to the bank is negative and money received from the bank is positive.PV= Present ValueN=Number of Compounding PeriodsPMT= Payment I%= Annual Interest Rate as a PercentFV= Future ValueP/Y and C/Y= Payments per Year and/orCompoundings per YearUse the link to the TVM Calculator below to solve the problem. The investment was accruing interest for months.You deposit $400 at the end of each month into an account earning 3.7% interest compounded monthly. a) How much will you have in the account in 30 years? P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ (round to the nearest cent) b) How much will be the total amount of money deposited into the account after 30 years? Total Deposited = $ (enter a positive value) c) How much total interest will you earn? Total Interest= $ (enter a positive value, and round to the nearest cent) ( Explain all point of question with proper step by step Answer. )
- Find the accumulated value of an investment of $20,000 for 5 years at an interest rate of 4.5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent. Click the icon to view some finance formulas. *** a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent.) InFind the accumulated value of an investment of $25,000 for 5 years at an interest rate of 5% if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent. Click the icon to view some finance formulas. ..... a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent.) Formulas In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. nt A A: P = A =Pert Y = -1 nt 1+ Print DoneClassify the financial problem. Assume a 4% interest rate compounded annually. Find the value of a $1,000 certificate in 6 years. A. amortizationB.ordinary annuity C.present valueD. sinking fundE.future value Answer the question. (Round your answer to the nearest cent.)
- Suppose you invest in an annuity that pays 6% interest, compounded annually. You contribute $4,500 each year for 10 years, what is the value of the annuity at the end of 10 years? Enter your answer rounded to the nearest hundred dollars. Omit the dollar sign and comma ($42,570.21 should be entered as 42600.)Suppose you invest S11.570.00 into an account earming an interest rate of 2.484% compounded continuously for 2 yeart and thereafter earning an interest rate of 3.417% compounded weekly. How much money is in the account after 9 years? The amount in the account is (Note: Your answer should have a dollar sign and be accurate to two decimal places)Suppose that $10,000 is deposited into a saving account that earns 6% interest, compounded annually.a) Assuming that no additional deposits or withdrawals are made, use the appropriate compound interestfactors to determine how much the account will be worth:i) After 5 years;ii) After 20 years. b) Verify that your answers in part (a) are correct by constructing a table or spreadsheet that shows howthe initial deposit will grow each year over 20 years. At a minimum, your table or spreadsheet shouldinclude a row for each year and show: the amount of money in the savings account at the start of each year. the amount of interest earned each year; and the amount of money in the savings account at the end of each year, after interest is paid.Be sure to briefly explain how your table or spreadsheet verifies your results from part (a). c) Again assuming that no additional deposits or withdrawals are made, how many years will it take untilthere is at least $50,000 in the account?