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- How much must be deposited today into the following account in order to have a $135,000 college fund in 11 years? Assume no additional deposits are made. An account with quarterly compounding and an APR of 7.32% $ should be deposited today. (Do not round until the final answer. Then round to the nearest cent as needed.) Enter your answer in the answer box. Type here to search 0 哥 同Aronscript Suppose someone wants to accumulate $50,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $140 per month into an account with an APR of 6% Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) is less than the goal of $50,000. A. No, because the amount that will be in the college fund, $ OB. Yes, because the amount that will be in the college fund, S is more than the goal of $50,000Find the amount of periodic payment necessary for the deposit to a sinking fund. (Round your answer to the nearest cent.) Amount Needed Frequency Rate Time A $120,000 quarterly 9% 25 yr Need Help? Read It Talk to a Tutor
- Kevin deposits $856.89 each quarter into an annuity account for his child's college fund in order to accumulate a future value of $75,000 in 16 years. How much of the $75,000 wilI Kevin ultimately deposit in the account, and how much is interest earned? Round your answers to the nearest cent, if necessary. Formulas 中 Answer(How to Enter) Keypad Present Value Formula Keyboard Shortcuts A PV = (1+) nt Annuity Formula for Finding Future Value nt FV = PMT . Annuity Formula for Finding Payment Amounts PMT = = FV . nt Prev NextK Suppose someone wants to accumulate $65,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $55 per month into an account with an APR of 7%. ... Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) O A. No, because the amount that will be in the college fund, $ is less than the goal of $65,000. OB. Yes, because the amount that will be in the college fund, $ is more than the goal of $65,000. 3What sum of money must be deposited in a trust fund to provide a scholarship of $1550, quarterly for infinite period, if interest is 7.2% compounded quarterly? (Money should be rounded to 2 decimal place) USE ONLY CALCULATOR TO CALCULATE YOUR ANSWERS. PMT VY CAY 1 PV 1550 0.072 4 0.018 86111.11 4
- PERFORMANCE TASK NO. 4 Solve the following problems completely. Read and understand the situation below, then answer the question or perform the tasks that follow. 1. A group of college students decided to invest the money they earned from the fund-raising project. After 6 months from today, they want to withdraw from this fund P 10,000.00 quarterly for 1 year to fund for community service. How much is the present total deposit if the interest rate is 4% converted quarterly? 2. A company offers a deferred payment option for the purchase of any furniture. Gladys plans to buy a dining table set with a monthly payment ofP 4,000.00 for 2 years. The payment will start at the end of 3 months. How much is the cash price of the dining set if the company will give 10% compounded monthly?My Blackboard MTH101 B01 - QUANTITATIVE LITERACY (Fall 2021 Credit Courses) Homework Homework 1.3 Homework 1.3 Score: 0/19 2/8 answered X Question 3 > Score on last try: 0 of 1 pts. See Details for more. > Next question 2 Get a similar question You can retry this question below You deposit $6000 in an account earning 5% interest compóunded monthly. How much will you have in the account in 15 years? $ 8,540.57 Question Help: Message instructor Submit Question МacBook Air 000 D00 F6 F5 F4 esc F2 F3 F1 %24 并OOR TEACHER PRACTICE ANOTHER Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $90,000 in a fund paying 3% per year, with quarterly payments for 20 years PMT = $ Need Help? Read It Watch It
- webwork / mat110e_oncampus_f/ finance.set.3/6 Finance.set.3: Problem 6 Previous Problem Problem List Next Problem Eugene began to save for his retirement at age 31, and for 15 years he put $ 425 per month into an ordinary annuity at an annual interest rate of 9% compounded monthly. After the 15 years, Eugene was unable to make the monthly contribution of $ 425, so he moved the money from the annuity into another account that earned 9% interest compounded monthly. He left the money in this account for 19 years until he was ready to retire. How much money did he have for retirement? Retirement amount = If Eugene had waited until he was 43 years old to start saving for retirement and then decided to put money into an ordinary annuity for 22 years earning 9% interest compounded monthly, what monthly payment would he have to make to accumulate the same amount for 2. retirement as you found in the first part of the question? Retirement amount = 3.B&F 209: Home work 1. Find the discounted value of an ordinary sinmple perpetuity paying S400 a year, if interest is (a) j1-8%, (b) j1=12,48%. 2. How much money is needed to establish a fund that pays a research scholarship of $10,000 each half year, if the fund can be invested at j2-10%, and if the first scholarship will be provided (a) a half-year from now? (b) immediately? (c) Four years from now? 3. On the assumption that a farm will net $1500 annually indefinitely, whatis the fair price(discounted value) for it, If money is worth (a)j1-8°o (b) j12-15%o.Clear my chOice Corry has an income of $80,000 that he is willing to spend over a year. If his bank account's interest rate is 3.05% and the cost associated for him to visit the bank is $5.00. What is Corry's average money holding? O a. $488.00 O b. $2,560.74 O c. $5,000.00 O d. $16.00 Previous page O Type here to search