Apex Fabricating wants to accumulate $801,000 for an expansion expected to begin in four years. If today Apex makes the first of equal quarterly payments into a fund earning 6.80% compounded monthly, what should the size of these payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places.) The quarterly payments $43,984.02 X
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- Find the amount of each payment to be made into a sinking fund which earns 8% compounded quarterly and produces $42,000 at the end of 3.5 years. Payments are made at the end of each period. The payment size is $. (Round to the nearest cent.)Cargojet Corp. is preparing for the replacement of one of its jets in three years by making payments to a sinking fund at the beginning of every six months for the next three years. The fund earns 6% compounded semiannually, and the capital required in three years is $750,000. What is the size of the semiannual payment made to the sinking fund? __________ How much of the maturity value of the fund will be interest? __________ Construct a partial sinking fund schedule showing details of the first two and the last two payments and totals. Round the sinking fund payments, interest payments and increases in the fund to the nearest dollar.Briac Steel sets aside $4900.00 at the beginning of every six months in a fund to replace equipment. If interest is 5% compounded monthly, how much will be in the fund after 4 years? The fund will be worth S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- An engineering company expects to expand its plant facilities in 6 years at an estimated cost of $68,000. To provide for the expansion, a sinking fund has been established into which equal payments are made at the beginning of every 3 months. Interest is 10% compounded quarterly. (a) What is the size of the quarterly payment? (b) How much of the maturity value will be payments? (c) How much interest will the fund contain?Find the amount of each payment to be made into a sinking fund earning 8% compounded monthly to accumulate $51,000 over 8 years. Payments are made at the end of each period The payment size is s (Do not round until the final answer. Then round to the nearest cent.) TE2: An investment fund is set up to make payments of $1,250 at the end of every month for 15 years. Interest on the fund is 8.50% compounded monthly. (a) How much money must be deposited into the fund today to allow for this series of payments? (b) How much will be paid out of the fund? (c) How much interest will be earned by the fund?
- If you invest $20,000 at an annual rate of 1% compounded continuously, calculate the final amount you will have in the account after 20 years. A) S16,374.62 B) $24,428.05 C) $97,033.04 D) S147,781.12The Bello Corporation wishes 1 po to accumulate P2,000,000 for plant expansion. The funds are required on January 1, 2011. Bello intends to make five equal annual deposits in a fund that will earn interest at 7% compounded annually. The first deposit is made on January 1, 2006. Present value and future value facts are as follows: Present value of $1 at 7% for 5 periods Present value of an ordinary annuity of 1 at 7% for 5 periods Future value of an ordinary annuity of 1 at 7% for 5 periods Future value of an annuity due of 1 at 7% for 5 periods What is the amount of the required annual deposit? .713 4.10 5.75 6.15The Zander Corporation wishes to accumulate $2,000,000 for plant expansion. The funds are required on December 31, 2025. Zander intends to make five equal annual deposits at the beginning of the year in a fund that will earn interest at 8% compounded annually. The first deposit was made on January 1, 2021. What is the amount of the required annual deposit? The required annual deposit is (round up to the nearest dollar):
- On January 1, 2025, Sandhill Company decided to begin accumulating a fund for asset replacement five years later. The company plans to make five annual deposits of $59000 at 7% each January 1, beginning in 2025. What will be the balance in the fund, on January 1, 2030 (one year after the last deposit)? The following 7% interest factors may be used. 4 periods 5 periods 6 periods O $339294 O $315650 O $295000 O $363044 Present Value of Ordinary Annuity. 3.3872 4.1002 4.7665 Future Value of Ordinary Annuity. 4.4399 5.75074 7.15329After the last financial crisis, a company is obligated to make additional quarterly payments to an unfunded pension fund during the next 3 years. The future value of those payments is to be $902,000. Actuarial estimations project the fund to earn interest at the rate of 8 percent per year. Payments are made at the end of each quarter. (Use factor table in Appendix B for calculation) Required 1: What is the present value of the additional payments to be made to the pension fund? $ Required 2: What is the amount of interest earned in the fourth period? $ Required 3: What is the total amount of contributed towards the pension fund at the beginning of period 8? $ Required 4: What is the total amount contributed towards the pension fund at the end of period 8 inmediately after the 8th payment was made? $ Required 5: Assume the company had a very profitable year and at the moment of making the 10th payment they decided to advance the remaining funds to achieve the total future value…Find the periodic payment for each sinking fund that is needed to accumulate the given sum under the given conditions. (Round your answer to the nearest cent.) FV = $1,900,000, r = 9%, compounded monthly for 25 years