Question
1) Derek will deposit $5,723.00 per year for 23.00 years into an account that earns 8.00%, The first deposit is made next year. How much
1) Derek will deposit $5,723.00 per year for 23.00 years into an account that earns 8.00%, The first deposit is made next year. How much will be in the account 37.00 years from today?
2) Derek will deposit $6,300.00 per year for 23.00 years into an account that earns 5.00%, The first deposit is made next year. He has $16,573.00 in his account today. How much will be in the account 43.00 years from today?
3) Derek will deposit $3,984.00 per year for 9.00 years into an account that earns 14.00%. Assuming the first deposit is made 7.00 years from today, how much will be in the account 40.00 years from today?
4) What is the value today of receiving $1,954.00 per year forever? Assume the first payment is made next year and the discount rate is 4.00%.
5) What is the value today of receiving $1,585.00 per year forever? Assume the first payment is made 5.00 years from today and the discount rate is 9.00%.
6) Suppose you deposit $2,211.00 into an account today that earns 8.00%. In 13.00 years the account will be worth $________.
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