Finance
posted by Dantavis .
7. Today you open a bank account and make a deposit of $6,000. Then you make the following deposits: in t=1 you deposit $6,500, in t=2 $45,000, in t=3 nothing, in t=4 nothing, in t=5 $7,000, in t=6 $8,700. You made your last deposit of $34,000 in t=7. Then, in t=10, you use all the money in your bank account to buy a financial security that guarantees 25 equal annual payments, with the first payment occurring in t=11. Assuming an annual interest rate of 10%, find the payment amount.

Finance 
dcf n
3245
Respond to this Question
Similar Questions

ReservesPLEASE HELP!
The Norfolk Bank has $18,000 in excess reservces and the reserve ratio is 20 percent. Which level of checkable deposits and reserves might this bank hold? 
finance
You want to accumulate $1,000,000 in retirement funds by your 65th birthday. Today is your 30th birthday, and you plan on making annual investments into a mutual fund that you project will earn a 10% annual rate of return. Your first … 
Macroeconomics
If it looks like a bank won't meet the Federal Reserve Bank's reserve requirement, normally it will first turn to the: A) other member banks and borrow at the federal funds rate. B) Fed and borrow at the discount rate. C) open market … 
accounting
I need to make a t account for accounting homework. The statements are from 2009? 
Finance
You can deposit 10,000 into an account paying 9% annual interest either today or exactly 10 years from today. How much better off will you be at the end of 40 years if you decide to make the initial deposit today rather than 1o years … 
Accounting
. Classify the following items as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance: _____ $20 in service charges _____ A $300 … 
math
You want to have $85,000 college fund in 15 years. HOw much will you have to deposit now under the scenario below. Assume that you make no deposits into the account after the initial deposit An APR of 4% compounded daily. You should … 
math
Suppose you start saving today for a $30,000 down payment that you plan to make on a house in 8 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you … 
Math: Finance
Need help solving these finance questions? 
Math
Finally, Kevin has a client who would like to invest into an account that earns 3.2% interest, which is compounded annually. The client opens the account with an initial deposit of $4,000, and deposits an additional $4,000 into the …