You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years. What is the gross amount actually placed in the account?
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You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years. What is the gross amount actually placed in the account?
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?You decide to deposit $126 monthly in a 3.2% annual interest bearing account over the next 18 years. How much will have accumulated in the account at the end of the period?Suppose that you deposit $7000 in a savings account that pays 4% annual interest, with interest credited to the account at the end of each year. Assuming that no withdrawals are made, complete the following: a. Find the balance in the account after 5 years. b. Find the balance of the account after 9 years and 10 months.
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- You deposit $1.2 milion into vour account to cover expenses in the next 12 vears. The account earns interest at the rate of 4%, compounded annually. Assume you expect the balance of the account to be $0 at the end of the 12th year. A) What annual level of living expenses Will your initial deposit support. (e.g., what equal annual withdrawal can you make for the next 12 years )? b) Suppose you realize your living expenses will increase at an annual rate of 2% due to inflation. Determine the updated annual spending plan in the line with this model how much can you withdrawal at the end of the first year. knowing that your withdrawal will increase by 2% each year? C) Suppose the initial deposit is still planned to support your equal annual expenses in the next 10 years as in part a but don't need to withdraw any money from your account for the first 6 years. You will withdraw from your account annually starting from the end of year 7 till the end of year 12. What annual level of living…Determine the interest rate earned on an $800 deposit when $808 is paid back in one year.You invest $3,000 in a Certificate of Deposit paying an annual compound interest of 1.26% for 10 years and then move it into a savings account that pays 0.70% interest compounded annually. What is the final balance in your account at the end of 18 years?
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