Savings accounts-future value

Assignment Help Financial Management

Reference no: EM131010356

Fowler Credit Bank is offering 6.6 percent compounded daily on its savings accounts. You deposit $5,000 today. How much will you have in the account in 4 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $ How much will you have in the account in 12 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $ How much will you have in the account in 19 years? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value $

Reference no: EM131010356

Questions Cloud

Calculate the annual cash flow of each : For each of the following annuities, calculate the annual cash flow. (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Calculate the annual cash flow of each?

What is the future value at a discount rate : Cannonier, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,060 2 1,290 3 1,510 4 2,250 If the discount rate is 6 percent, what is the future value of these cash flows in Year 4? (Do not round intermediat..

Monthly payment-what is the effective annual rate on loan : You want to buy a new sports coupe for $75,500, and the finance office at the dealership has quoted you an APR of 5.7 percent for a 60 month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?

Stated rate number of times compounded effective rate : Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.): Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 8...

Savings accounts-future value : Fowler Credit Bank is offering 6.6 percent compounded daily on its savings accounts. You deposit $5,000 today. How much will you have in the account in 4 years? Future value $ How much will you have in the account in 12 years? Future value $ How much..

What happens to value of your investment if interest rate : Suppose you just bought a 25-year annuity of $7,200 per year at the current interest rate of 9 percent per year. What is the value of your annuity today? Present value $ What if interest rates suddenly rise to 14 percent? Present value $ What happens..

Prepare an amortization schedule for a five-year loan : Prepare an amortization schedule for a five-year loan of $69,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. Interest paid $ How much total interest is paid over the life of the loan?

Asset management ratios corn products : Asset Management Ratios Corn Products, Corp. ended the year 2008 with an average collection period of 38 days. The firm's credit sales for 2008 were $10.1 million. What is the year-end 2008 balance in accounts receivable for Corn Products? (Consider ..

Two investment accounts : You have your choice of two investment accounts. Investment A is a 14-year annuity that features end-of-month $1,700 payments and has an interest rate of 7.9 percent compounded monthly. Investment B is a 7.4 percent continuously compounded lump sum i..

User Account

All Pages