Your grandpa has been depositing $3000 every year in a bank for the last 4 years...

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Your grandpa has been depositing $3000 every year in a bank for the last 4 years so that when you complete your master's in 6 years (no deposits in the last 2 years) you use that money to buy a car. The bank gives a 9% interest rate. How much you get at the end of 6 years? Years=> 0 1 2 3 4 5 6 (you have your Master's. Congratulate!) D D D D ND ND W (D=> Deposit, ND= No deposit, W=Withdrawn) Show short work below. by entering formula/factors, then the numbers/then the answer. Not just the answer 9% INT RATE TABLE at the end Compound Interest Factors Uniform Payment Series 9% 9% Single Payment Arithmetic Gradient Compound Amount Sinking Fund Capital Recovery Factor Find A Given P A/P Gradient Uniform Gradient Present Worth Compound Amount Present Worth Factor Find F Given P Factor Find P Given F Present Worth Find P Given G Factor Factor Find F Given A Factor Series Find A Find A Find P Given F Given A Given G F/P P/F A/F F/A PIA A/G P/G 1.090 1.188 1.295 1.412 1.539 9174 8417 7722 1.0000 1.0900 5685 3951 1.000 2.090 3.278 4.573 5.985 0.917 1.759 2.531 3.240 3.890 1 2 3 4785 3051 2187 .1671 0.478 0.943 0.842 2.386 4.511 7084 3087 1.393 4 6499 2571 1.828 7.111 5963 5470 4.486 5.033 1.677 .1329 2229 7.523 2.250 10.092 13.375 9.200 11.028 13.021 1.828 .1087 .1987 2.657 1.993 2.172 5019 4604 0907 .0768 .1807 .1668 5.535 5.995 3.051 3.431 16.888 20.571 10 2.367 4224 0658 1558 15.193 6.418 3.798 24.373 10 .1469 .1397 .1336 .1284 6.805 7.161 7.487 7.786 11 2.580 3875 .0569 17.560 20.141 22.953 26.019 4.151 4.491 4.818 5.133 28.248 11 12 13 12 2.813 3555 .0497 32.159 13 3.066 3262 .0436 36.073 3.342 2992 .0384 39.963 14 15 14 15 3.642 2745 .0341 1241 29.361 8.061 5.435 43.807 16 3.970 .2519 2311 2120 1945 1784 .0303 .1203 .1170 33.003 8.313 5.724 47.585 16 17 4.328 .0270 36.974 8.544 6.002 51.282 17 18 4.717 .0242 .1142 6.269 41.301 46.019 8.756 54.886 58.387 61.777 18 .0217 0195 1117 1095 19 5.142 8.950 6.524 19 20 5.604 51.160 9.129 6.767 20 56.765 62.873 69.532 76.790 21 22 6.109 6.659 7.258 7.911 1637 .1502 .1378 .1264 1160 .0176 .0159 0144 .0130 .0118 9.292 9.442 9.580 9.707 9.823 65.051 68.205 71.236 74.143 76.927 .1076 7.001 21 22 23 24 .1059 7.223 23 .1044 7.436 7.638 7.832 24 .1030 25 8.623 .1018 84.701 25 9.399 10.245 26 93.324 9.929 8.016 26 .1064 .0976 .0107 .00973 .1007 .0997 79.586 82.124 27 102.723 10.027 8.191 27 0895 0822 .0754 0989 .0981 0973 28 .00885 .00806 00734 11.167 112.968 10.116 8.357 84.542 28 29 30 12.172 13.268 124.136 136.308 10.198 10.274 8.515 8.666 86.842 89.028 29 30 123 S Your grandpa has been depositing $3000 every year in a bank for the last 4 years so that when you complete your master's in 6 years (no deposits in the last 2 years) you use that money to buy a car. The bank gives a 9% interest rate. How much you get at the end of 6 years? Years=> 0 1 2 3 4 5 6 (you have your Master's. Congratulate!) D D D D ND ND W (D=> Deposit, ND= No deposit, W=Withdrawn) Show short work below. by entering formula/factors, then the numbers/then the answer. Not just the answer 9% INT RATE TABLE at the end Compound Interest Factors Uniform Payment Series 9% 9% Single Payment Arithmetic Gradient Compound Amount Sinking Fund Capital Recovery Factor Find A Given P A/P Gradient Uniform Gradient Present Worth Compound Amount Present Worth Factor Find F Given P Factor Find P Given F Present Worth Find P Given G Factor Factor Find F Given A Factor Series Find A Find A Find P Given F Given A Given G F/P P/F A/F F/A PIA A/G P/G 1.090 1.188 1.295 1.412 1.539 9174 8417 7722 1.0000 1.0900 5685 3951 1.000 2.090 3.278 4.573 5.985 0.917 1.759 2.531 3.240 3.890 1 2 3 4785 3051 2187 .1671 0.478 0.943 0.842 2.386 4.511 7084 3087 1.393 4 6499 2571 1.828 7.111 5963 5470 4.486 5.033 1.677 .1329 2229 7.523 2.250 10.092 13.375 9.200 11.028 13.021 1.828 .1087 .1987 2.657 1.993 2.172 5019 4604 0907 .0768 .1807 .1668 5.535 5.995 3.051 3.431 16.888 20.571 10 2.367 4224 0658 1558 15.193 6.418 3.798 24.373 10 .1469 .1397 .1336 .1284 6.805 7.161 7.487 7.786 11 2.580 3875 .0569 17.560 20.141 22.953 26.019 4.151 4.491 4.818 5.133 28.248 11 12 13 12 2.813 3555 .0497 32.159 13 3.066 3262 .0436 36.073 3.342 2992 .0384 39.963 14 15 14 15 3.642 2745 .0341 1241 29.361 8.061 5.435 43.807 16 3.970 .2519 2311 2120 1945 1784 .0303 .1203 .1170 33.003 8.313 5.724 47.585 16 17 4.328 .0270 36.974 8.544 6.002 51.282 17 18 4.717 .0242 .1142 6.269 41.301 46.019 8.756 54.886 58.387 61.777 18 .0217 0195 1117 1095 19 5.142 8.950 6.524 19 20 5.604 51.160 9.129 6.767 20 56.765 62.873 69.532 76.790 21 22 6.109 6.659 7.258 7.911 1637 .1502 .1378 .1264 1160 .0176 .0159 0144 .0130 .0118 9.292 9.442 9.580 9.707 9.823 65.051 68.205 71.236 74.143 76.927 .1076 7.001 21 22 23 24 .1059 7.223 23 .1044 7.436 7.638 7.832 24 .1030 25 8.623 .1018 84.701 25 9.399 10.245 26 93.324 9.929 8.016 26 .1064 .0976 .0107 .00973 .1007 .0997 79.586 82.124 27 102.723 10.027 8.191 27 0895 0822 .0754 0989 .0981 0973 28 .00885 .00806 00734 11.167 112.968 10.116 8.357 84.542 28 29 30 12.172 13.268 124.136 136.308 10.198 10.274 8.515 8.666 86.842 89.028 29 30 123 S

Answer rating: 100% (QA)

Interest for 1 year 3000 X 9100 270 Interest for 2 year 6000 X 9100 540 Interest for 3 year 9000X ... View the full answer