Question
PLEASE I NEED ANSWERS TO THESE IN 40 MINUTES Mary has the following transactions in a money market account paying a rate of 3% p.
PLEASE I NEED ANSWERS TO THESE IN 40 MINUTES
Mary has the following transactions in a money market account paying a rate of 3% p. y. c. y. How much will she have in the account on her last birthday shown?
Years | Birthday | Inflow | Outflow |
0 | 28 | $20,000 |
|
1 | 29 | $10,000 |
|
2 | 30 | $10,000 |
|
3 | 31 | $10,000 |
|
4 | 32 | $10,000 |
|
5 | 33 | $10,000 |
|
6 | 34 | $10,000 |
|
7 | 35 | $10,000 |
|
8 | 36 |
| ($5,000) |
9 | 37 |
| ($5,000) |
10 | 38 |
| ($5,000) |
11 | 39 |
| ($5,000) |
12 | 40 |
| ($5,000) |
13 | 41 | $10,000 |
|
14 | 42 | $10,000 |
|
15 | 43 | $10,000 |
|
16 | 44 | $10,000 |
|
17 | 45 | $10,000 |
|
18 | 46 | $10,000 |
|
Group of answer choices
$86,543
$94,235
$173,102
$225,773
Flag question: Question 2
Question 210 pts
Given the following cash flow, what would be the value of P if the inflows and outflows balance each other at an interest rate of 4%?
Year | Inflows | Outflows |
0 | $11,000 |
|
1 |
| ($4,500) |
2 | 4P |
|
3 |
| -12P |
4 | 8P |
|
5 |
|
|
6 | 16P | ($17,500) |
7 |
|
|
8 | 24P |
|
Group of answer choices
$173
$238
$268
$291
Flag question: Question 3
Question 310 pts
Kris would like to open a money-market account that pays a yearly rate that is compounded yearly. He plans to deposit money for a certain time and then remove money when he retires. The details for Kris's account are given below. What can Kris expect to withdraw from his account at the end of the 31st year? He makes the last deposit into the account at the end of year 30.
Account opening amount | $12,000 |
Deposit at end of year 1 | $3,500 |
% increase in deposits per year | 4% |
| |
Rate earned in money market account | 5% |
Withdrawals begin at end of year 31 and end on year 40 | |
% increase in withdrawals per year | 7% |
Group of answer choices
$21,804
$22,539
$37,026
$41,352
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