K-Suppose you start saving today for a $25.000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after theinitial deposit. For the account described below, how much would you have to deposit now to reach your $25,000 goal in 5 yearsAn account with daily compounding and an APR of 6%You should invest $20787.15(Do not round on the final answer. Then round to two decimal places as needed.)That's incorrect.Use the compound interest formula, where A is accumulated balance after Y years,P is starting principal, APR is annual percentage rate (as a decimal), nis numberof compounding periods per year, and Y is number of years, to determine theamount, P, that you will have to investAPRY)A=P 1+OKX

Suppose you start saving today for a $25.000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $25,000 goal i years An account with daily compounding and an APR of 6% You should invest $ 20767.15 (Do not round until the final answer. Then round to two decimal places as needed.) That's incorrect. * Use the compound interest formula, where A is accumulated balance after Y years, Pis starting principal, APR is annual percentage rate (as a decimal), nis number of compounding periods per year, and Y is number of years, to determine the amount, P, that you will have to invest A=P(1. APR OK X

Suppose you start saving today for a $25.000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $25,000 goal i years An account with daily compounding and an APR of 6% You should invest $ 20767.15 (Do not round until the final answer. Then round to two decimal places as needed.) That's incorrect. * Use the compound interest formula, where A is accumulated balance after Y years, Pis starting principal, APR is annual percentage rate (as a decimal), nis number of compounding periods per year, and Y is number of years, to determine the amount, P, that you will have to invest A=P(1. APR OK X

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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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?
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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. 2,0000.9264
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Suppose you start saving today for a $50,000 down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $50,000 goal in 5 years. An account with daily compounding and an APR of 6% You should invest $ (Do not round until the final answer. Then round to two decimal places as needed.)
Suppose you want to withdraw $20,000 at the end of year 3 and another $20,000 at the end of year 5. The account's interest rate is 5% compounded annually. A How much should you deposit now? B) Suppose you realize you can only deposit $10,000 today, but you expect to have more funds available in 1 year. How much must you deposit into the account at the end of year 1 so that you can still make the necessary withdrawals at the end of years 3 and 5?
Suppose you invest $130 a month for 5 years into an account earning 8% compounded monthly. After 5 years, you leave the money, without making additional deposits, in the account for another 29 years. How much will younhave in the end? Suppose instead you didn't invest anything for the first 5 years, then deposited $130 a month for 29 years into an account earning 8% compounded monthly. How much will you have in the end? Question Help: D Video Submit Question
suppose you start saving today for a 40000 down payment that you plan to make on a house in 8 years. assume that you make no depsits into the account after the initial deposit how much would you have to deposit now to reach that goal of 40000 in 8 years account has daily compunding intrest with an 6 apr rate how much should you invest
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Suppose you invest $190 a month for 7 years into an account earning 9% compounded monthly. After 7 years, you leave the money, without making additional deposits, in the account for another 26 years. How much will you have in the end?$Suppose instead you didn't invest anything for the first 7 years, then deposited $190 a month for 26 years into an account earning 9% compounded monthly. How much will you have in the end?$ 0-0-00------------------0-0-0-0-0-----------------0-0-0---------------0