If Sabrina puts $1,000 in the bank today at 6%, what amount will she have in 3 years? a. 1,060.00 b. 1,121.10 c. 1,191.10 d. 1,241.10
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If Sabrina puts $1,000 in the bank today at 6%, what amount will she have in 3 years?
a. 1,060.00
b. 1,121.10
c. 1,191.10
d. 1,241.10
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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. 2,0000.9264You 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.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.
- 6. Erika opened a savings account today and she immediately put $10,000 into it. She plans to contribute another $20,000 one year from now, and $50,000 two years from now. The savings account pays a 6 percent annual interest rate. If she makes no other deposits or withdrawals, how much will she have in the account 10 years from today? a.$ 8,246.00 b.$116,937.04 c$131,390.46 d.$164,592.62 e.$190,297.04 2/43. Jeff has one savings account with the interest rate of 3.3% in a bank. If he deposits 1200 pesos to the savings account, how much money will he have after 6 years? A. PhP 1437.60 C. PhP 1337.60 B. PhP 1237.60 D. PhP 1137.60What amount will Miley need to put in the bank today at 4% interest in order to have $20,000 in 5 years? a. 16,000 b. 16,439 c. 17,439 d. 20,000
- How much money does Suzie need to have in her retirement savings account today if she wishes to withdraw $25,000 a year for 3 years? She expects to earn an average rate of return of 13 percent. A. $59,028.81 OB. $65,419.81 OC. $71,533.33 OD. $85,160.98 E. $87,391.34Suppose you receive $500 in graduation money. You decide to put it into an account paying 5%. If you deposit $175 into that same account every month for 7 years, how much money will you have at the end? $14,700.00 B $15,200.00 $16,195.49 $18,266.53 (E) $25,482.80Abby Mia wants to know how much must be deposited in her local bank today so that she will receive yearly payments of $18,000 for 20 years at a current rate of 9% compounded annually. (Use the tables found in the textbook.) A. $1,085.82 B. $163,313 C. $1,463.13 D. $164,313
- Lily has an account that pays 3.48% simple interest per year and wants to accumulate $4,000 in interest from it over the next 12 years. How much money should Lily invest in this account to meet her goal? (Use I = Prt) a. $2,000.00 b. $1.670,40 $9.578.54 d. $6,030.27How much money should you deposit in your account now if you are looking to have $7000 after 5 years. The bank pays 7% interest rate per year? Select one: O a. P= $6990.90 O b. P= $9990.90 O c. P= $4990.90 O d. P= $3374.482. Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to make annual deposits of PhP 40,000 for 10 years with the first payment being today. Determine the present worth of Ms. Perez's savings account. A. PhP 256,706.31 B. PhP 356, 706.31 C. PhP 279,809.88 D. PhP 289,908.88
