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Derek wants to withdraw $14,858.00 from his account 3.00 years from today and $13,604.00 from his account 12.00 years from today. He currently has $2,180.00
Derek wants to withdraw $14,858.00 from his account 3.00 years from today and $13,604.00 from his account 12.00 years from today. He currently has $2,180.00 in the account. How much must he deposit each year for the next 12.0 years? Assume a 5.03% interest rate. His account must equal zero by year 12.0 but may be negative prior to that. Attempts Remaining: Infinity Answer format: Currency: Round to: 2 decimal places. Derek currently has $13,025.00 in an account that pays 4.00%. He will withdraw $5,617.00 every other year beginning next year until he has taken 4.00 withdrawals. He will deposit $13025.0 every other year beginning two years from today until he has made 4.0 deposits. How much will be in the account 27.00 years from today? Attempts Remaining: Infinity Answer format: Currency: Round to: 2 decimal places. Derek can deposit $279.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 12.00% and compounds interest monthly. Derek can deposit $2,462.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years? Attempts Remaining: Infinity Answer format: Percentage Round to: 4 decimal places (Example: 9.2434\%, \% sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
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