Question
1. Carrie has already saved $14,900 in her investment account as of today, and she plans to contribute equal deposits of $3,400 at the end
1. Carrie has already saved $14,900 in her investment account as of today, and she plans to contribute equal deposits of $3,400 at the end of every month for the next 5 years.
how much will be the accumulated value in her investment assuming the account earns 4.28% compounded quarterly? round all the values to two decimal places.
2. Chai invested $170 at the end of every month for 3 years , followed by $240 at the end of every month for 17 years.
how investment earned 9% compounded monthly for the entire 20 year period.
answer the following questions and round all answers to two decimal places if necessary.
a. how much will chai have in the account after 3 years?
b. how much will chai have in the account after 20 years?
3.john wants to receive $700 at the end of every three months for 5 years. interest is 5.3% compounded quarterly. report monetary values to the nearest cent.
a. how much should john deposit at the beginning of the 5 year period to receive these payment?
b. how much would john receive in total?
c. how much of what john would receive is interest?
4. you deposit $420 at the end of every six months into an account earning 5.7% interest compounded semiannually.
a. how much will you have in the account in 35 years?
b. how much will be the total amount of money deposited into account after 35 years?
c. how much total interest will you earn?
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