Question: Please ANSWER ALL (explanation with or without BA 2 calculator greatly appreciated) #1. What is the value today of a money machine that will pay

Please ANSWER ALL (explanation with or without BA 2 calculator greatly appreciated)

#1.

What is the value today of a money machine that will pay $3,042.00 every six months for 11.00 years? Assume the first payment is made 5.00 years from today and the interest rate is 6.00%

#2.

What is the value today of a money machine that will pay $4,796.00 per year for 8.00 years? Assume the first payment is made today and that there are 8.0 total payments. The interest rate is 4.00%.

#3

Derek will deposit $1,188.00 per year for 10.00 years into an account that earns 7.00%. The first deposit is made next year. How much will be in the account 10.0 years from today?

#4

Derek will deposit $6,869.00 per year for 24.00 years into an account that earns 18.00%, The first deposit is made next year. How much will be in the account 37.00 years from today?

#5

Derek will deposit $2,229.00 per year for 16.00 years into an account that earns 5.00%. The first deposit is made today. How much will be in the account 16.0 years from today? Note that he makes 16.0 total deposits.

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!