Question: A You are advised to save for your mortgage downpayment for 5 years. You consider to deposit $500 every two weeks. How much money will

A You are advised to save for your mortgage downpayment for 5 years. You consider to deposit $500 every two weeks. How much money will you have in 5 years if your account can earn 4,5% compounded biweekly? (3 points) $ B/What will be the total amount of your deposits? (2 points) C/ What will be the total amount of interests? (1 point) $ Do not round intermediate values. Round your answers to 2 decimal places. Do not include any characters in your

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

What is the cash price of a car, which can be paid off in 4 years, if the monthly payments are $450 at 12% compounded monthly? 12. Jimmy won $ 100 000 on a lottery and, after applying a significant...

The 2015 balance sheet of Global Tours showed current assets of $1,360 and current liabilities of $940. The 2016 balance sheet showed current assets of $1,640 and current liabilities of $1,140. What...

Show how to enter into EXCEL 1. You have decided to place $153 in equal deposits every month at the beginning of the month into a savings account earning 4.69 percent per year, compounded monthly for...

3. Smart Loan How long would it take for S&S Air to pay off the smart loan assuming 30-year traditional mortgage payments? Hint: The payment for a loan repaid with equal payments is the annuity...

Need help solving this probelm pls help. Financial Work. Need help on the following problems. Show how you solve problems (e.g., draw a diagram that shows cash inflows and/or outflows) You can...

Please answer ALL questions & show ALL work. 11.On your tenth birthday, you received $500 which you invested at 4.5 percent interest, compounded annually. Your investment is now worth $711. How old...

COLLEGE BUDGET Regan works part time at the city hospital and earns around $600 per month. Scholarships cover most of her nursing school tuition, but she has one small loan to cover the remaining...

The Balance Sheet Referencing this week?s readings and lecture, what information is provided in the balance sheet? What is a common-sized balance sheet and how do you create one? For your final...

Please answer all questions of case study. Thank you. updated - please answer all case study questions. PART) Valuation of Future Cash Flows CHAPTER CASE S&S Air's Mortgage M C They 20 PC emme...

Case 11 Equal Exchange: Doing Well by Doing Good1 Rev. Dr. Benita W. Harris Asbury United Methodist Church Frank Shipper, PhD Perdue School of Business, Salisbury University Karen P. Manz Author and...

reason than to conjuse you ), is from Mueller Inc.'s trial balance as on December 31, 2019 and December 31, 2020 Accounts Payable Accounts Receivable Cash Cost of Goods Sold Depreciation Dividends...

Libbel Enterprises has been in business for 30 years. Last year, the company purchased Chemcraft Laboratory and entered the chemical processing business. Libbels controller prepared a process value...

*1348. The smooth block B of negligible size has a mass m and rests on the horizontal plane. If the board AC pushes on the block at an angle u with a constant acceleration a0, determine the velocity...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...