On the day your daughter is born, you deposit $1,000 in a college savings account that earns 8% compounded annually. On each of her birthdays thereafter, up to and including her 18th birthday, you deposit an additional $1,000. How much money is in the college account the day after her 18th birthday? a. $37,450 b. $38,950 c. $41,450 d. $46,800.
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On the day your daughter is born, you deposit $1,000 in a college savings account that earns 8% compounded annually. On each of her birthdays thereafter, up to and including her 18th birthday, you deposit an additional $1,000. How much money is in the college account the day after her 18th birthday? a. $37,450 b. $38,950 c. $41,450 d. $46,800.
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- Ever since your first birthday, your parents have been depositing $1,000 into a college savings account on every one of your birthdays. The account pays 9% interest annually. Immediately after your parents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to which of the following? OA. $41,301.34 OB. $49,561.61 OC. $24,780.80 OD. $57,821.88Your parents contribute $180 monthly to a college savings plan for you that earns 5.4% compounded monthly. The first deposit was exactly 18 years ago. Find the account balance immediately after today’s monthly deposit and crediting of interest. a. $69,456 b. $65,975 c. $45,589 d. $59,689 e. $72,096A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $30,000 saved up for when she goes to college in 17 years, assuming the account earns a 4% return. Annual deposit: $
- On your first through fifth birthdays your parents placed $1,000 into your college fund (five total deposits of $1,000 each). The account has earned an average of 8.0% per year until today, your twentieth birthday. How much money is in the account today? 8/15 Qs Your choice: A: $11,733.20 B: $18,609.85 C: $17,219.70 D: $25,383.411. Find the simple interest earned on a deposit of $5,750 that is left on deposit for 3.5 years and earns anthe annual interest rate of 4.5%.2. Three years after investing $15,000, a retired couple received a check for $3,375 in simple interest. Findthe annual interest rate their money earned during that time.3. For their newborn child, parents deposit $10,000 in a college account that pays 8% interest,compounded annually. How much will be in the account on the child’s 17th birthday?4. If the parents in part c invested $10,000 in an account paying 8%, compounded quarterly, how muchmore money would they have after 17 years?5. What sum must be deposited today at 18% per year compounded monthly if the goal is to a compoundamount of $50, 000 six years from today? How much interest will be earned during this period?Melinda opened a savings account for her daughter on ? the day she was born, depositing $1,000: Each year on her birthday she deposits another $1,000 making the last deposit on her 21st birthday. The асcount рays 9.5% interest compounded annually. Find the total amount accumulated in the account at the end of the day on the daughters 21st birthday. (answer in whole number)
- 6 A father wants to set aside money for his 5-year old son's future college education. Money can be deposited in a bank account that pays 8.27 % per year, compounded annually. What equal deposits should be made by the father on his son's 6th through 17th birthday, in order to provide Php 5778 on the son's 18th, 19th, 20th, and 21st birthday? Round off to two decimal places.A father wants to set aside money for his son's future college education. Money can be deposited in a bank account that pays 8.1% per year, compounded annually. What equal deposits should be made by the father, on his son's 5th through 17th birthdays, in order to provide $6900 on the son's 18th, 19th, 20th, and 21st birthdays?On the day you were born, your parents opened than the amount deposited in the previous year Immediately after your parents make the deposit on your 18th birthday, the amount of money in your savings account will be closest to which of the following? OA $80,839 OB $27,958 OC. $99,002 a college savings account with an initial deposit of $2.200 On every one of your birthdays since, your parents have made an additional deposit that is 3% larger The account eams 6.7% interest annually OD $30,000 OE $29,050 The deposit made on your 18th birthday will be the final deposit made into the account You plan on using the balance in the account to fund your college education You will be attending a 4-year institution and you will assume that tuition costs will remain constant over the next four years. If the first annual tution payment wit be made on your 19th birthday, what is the maximum annual tabon expense that the balance in your account can sustain if you plan on attending college for four…
- On your child’s 1st birthday, you open an account to fund his college education. You deposit $300 to open the account. Each year, on hisbirthday, you make another deposit. Each subsequent deposit is 8% larger than the previous one. The account pays interest at 5%/year compounded annually. How much money is in the account immediately after the deposit on his 18th birthday?Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86Bella deposits $6400 in a savings account at a bank that offers interest of 1.8% on such accounts. What is the value of the money in her savings account in two year's time? Select one: a. $6,630.4 b. $6,632.5 C. $8,911 O d. d. $6,505.2 <