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What is The amount a person would need to deposit today to be able to withdraw 7000 each year for ten years from an account earning 6 percent?
To determine the amount needed to deposit today, we can use the present value of an annuity formula. The present value (PV) of an annuity can be calculated using the formula: ( PV = P \times \frac{1 - (1 + r)^{-n}}{r} ), where ( P ) is the annual withdrawal amount ($7,000), ( r ) is the interest rate (0.06), and ( n ) is the number of years (10). Plugging in these values, the present value needed today would be approximately $57,221.
What else can I help you with?
What amount will you lose for early withdrawal on a 20000 6 percent Certificate of Deposit?
It depends on the terms of the deposit and how early you withdraw.
What is the account balance if you deposit 125 at 6 percent for 10 years?
It is 223.86
You deposit 300 today 500 one year from now and 600 four years from now into an account that earns 8 percent compounded annually How much money will you have 7 years from now?
Assuming you deposit the money on the first day of each year you will have 2,124 from the 1,400 you'd deposited earning a total of 724 interest
Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?
177.50
What lump sum will Jim need to deposit now in an account paying 7.25 percent compounded quarterly if he wants to have a balance of 50000 in 15 years?
He should deposit 17017.82
What amount will you lose for early withdrawal on a 20000 6 percent Certificate of Deposit?
It depends on the terms of the deposit and how early you withdraw.
What is the account balance if you deposit 125 at 6 percent for 10 years?
It is 223.86
You deposit 300 today 500 one year from now and 600 four years from now into an account that earns 8 percent compounded annually How much money will you have 7 years from now?
Assuming you deposit the money on the first day of each year you will have 2,124 from the 1,400 you'd deposited earning a total of 724 interest
Shaun wants to split his 500 into two accounts He wants to deposit 125 at 4.9 percent interest in one account and the rest at 5.0 percent interest in another account?
24.88
What is the balance after 8 years on a deposit of 500.00 earning 7 percent interest compound semiannually?
(1.035)16 = 1.73398604 $500 ===> $866.99 (rounded)
If you deposit 10000 in a bank account that pays 10 percent interest anually how much would be deposited in your account after 5 years?
5000
One year ago marahall made a deposit in a bank account that had an annual rate of 5.5 he now has 279.58 in his bank account how much money did marshall originally deposit?
Based on a 5.5 percent annual return, Marshall's original deposit was $265.
When Can you withdraw money from you IRA account?
can be withdrawn without ten percent IRS penalty after age 59 1/2
What is the balance after 7 years if you deposit 350 every quarter into a savings account that earns 4.5 percent interest compounded quarterly?
$11,573.02 if you deposit at the beginning of the quarter or $11,444.27 if you deposit at the end of the quarter
Packer wants to place 700.00 into a savings account for 5 years He wants to deposit 400.00 at 4.0 percent and the rest in another account at 6.5 percent What would his amount of interest be at the en?
177.50
How much does it cost to open a Swiss bank account?
"Opening a swiss bank account can be free, however, there is a fee to withdraw your money from a free account. This fee can be 1 or 2 percent depending on the bank."
Jerry invested 14000 in a certificate of deposit at 5 percent he also put 2500 in a savings account at 3 percent how much interest will he earn after?
775
