Suppose you plan on saving money at the end of each month in an account that earns 6.6 percent compounded monthly. How much do you need to deposit each month to have a balance of $60,235 at the end of 9 years? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.)
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Suppose you plan on saving money at the end of each month in an account that earns 6.6 percent compounded monthly. How much do you need to deposit each month to have a balance of $60,235 at the end of 9 years?
(Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.)
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- Suppose you deposit $ 1296 today and your account will accumulate to $ 5637 in 9 years. What is the rate of interest? Input your answer in decimals, not percentages. Round your answer to four decimals places.Suppose that you will deposit $184 at the end of each month for the next 24 years into an account with an APR of 11% and monthly compounding. How much money will be in the account at the end of the 24 years? Round your final answer to two decimals. Show formula in Excel.If you deposit $700 in a bank account that earns 5 percent per year, how much total interest will you have earned after the third year? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Total Interest =
- How much must you deposit into an account today so that you can have $25,000 in twelve years? Assume that the account earns 6% per year compounded quarterly. You should deposit $ (Round the final answer to the nearest cent as needed. Keep all decimal places as you work through the problem.)Suppose you deposit $10 every week into an account that earns 4% interest compounded weekly. How much money (to the nearest cent) will you have in the account after 5 years? Summarize the information provided, stating the interest rate in a decimal form. d = r = N = k = Solve the problem and give your answer hereYou plan to deposit $700 in a bank account now and $900 at the end of one year. If the account earns 2% interest per year, what will the balance be in the account right after you make the second deposit? There will be $ in the account right after the second deposit. (Type an integer or a decimal.)
- Assume you deposit $4,400 at the end of each year into an account paying 10.5 percent interest. a. How much money will you have in the account in 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 48 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)If you earn 5% per year on your bank account, how long will it take an account with $110 to double to $220? (Do not round intermediate calculations. Round your answer to 2 decimal places.)You deposit $320 each month into an account earning 2% interest compounded monthly. Use the TVM Solver on the TI calculator. Round to the nearest cent (two decimal places). a) How much will have accumulated in the account in 20 years? $ b) How much money will you have deposited in the account during this time? $ c) How much of the amount in the account will be interest?
- If you deposit #9989 into an account paying 3.6% annual interest compounded monthly, how much money will be in the account after 8 years? Round your answer to 2 decimal places.You want to be able to withdraw $4000 from an account at the end of each year for the next 19 years. How much money should you invest now into an account earning 6.6% interest per year, compounded annually, in order to fund the desired withdrawals? Assume the account is empty after the last withdrawal is made. Give the answer to 2 decimal places, and do not use the $ sign in the answer box. The amount to invest now is Blank 1. Calculate the answer by read surrounding text. dollars.You have $29,307.61 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $240,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations. ___years