In this this LINEAR Math 164-Signature Assignment Instructions: Show your steps
ID: 2793716 • Letter: I
Question
In this this LINEAR Math 164-Signature Assignment Instructions: Show your steps clearly. Write your justification as to why you will be using the formulas in each step. 1. Dan Hook de compounded monthly. After making 60 deposits, Dan changes his job and stops making payments for 3 years. After 3 years, he starts monthly. What will the total value of the retirement accounts be making deposits again, but now he deposit $525 a. Äfter Dan makes his $400 monthly deposit for five years? b. Eight years after his first deposit of $400? c. After Dan makes his $525 monthly deposits for 5 years?Explanation / Answer
A B C D E f G H I J K L 2 =1.0025833333^(60-B2) Present value Future value =D2*C2 =1.00258333333333^(60-H2) Present value Future value =J2*I2 3 1 1.164417 400 465.7666141 1 1.164417 525 611.3187 4 2 1.161416 400 464.5664841 2 1.161416 525 609.7435 5 3 1.158424 400 463.3694463 3 1.158424 525 608.1724 6 4 1.155439 400 462.175493 4 1.155439 525 606.6053 7 5 1.152462 400 460.984616 5 1.152462 525 605.0423 8 6 1.149492 400 459.7968076 6 1.149492 525 603.4833 9 7 1.14653 400 458.6120598 7 1.14653 525 601.9283 10 8 1.143576 400 457.4303647 8 1.143576 525 600.3774 11 9 1.140629 400 456.2517144 9 1.140629 525 598.8304 12 10 1.13769 400 455.0761012 10 1.13769 525 597.2874 13 11 1.134759 400 453.9035171 11 1.134759 525 595.7484 14 12 1.131835 400 452.7339544 12 1.131835 525 594.2133 15 13 1.128919 400 451.5674052 13 1.128919 525 592.6822 16 14 1.12601 400 450.4038619 14 1.12601 525 591.1551 17 15 1.123108 400 449.2433167 15 1.123108 525 589.6319 18 16 1.120214 400 448.0857618 16 1.120214 525 588.1126 19 17 1.117328 400 446.9311896 17 1.117328 525 586.5972 20 18 1.114449 400 445.7795923 18 1.114449 525 585.0857 21 19 1.111577 400 444.6309623 19 1.111577 525 583.5781 22 20 1.108713 400 443.485292 20 1.108713 525 582.0744 23 21 1.105856 400 442.3425736 21 1.105856 525 580.5746 24 22 1.103007 400 441.2027997 22 1.103007 525 579.0787 25 23 1.100165 400 440.0659627 23 1.100165 525 577.5866 26 24 1.09733 400 438.9320549 24 1.09733 525 576.0983 27 25 1.094503 400 437.8010688 25 1.094503 525 574.6139 28 26 1.091682 400 436.6729969 26 1.091682 525 573.1333 29 27 1.08887 400 435.5478316 27 1.08887 525 571.6565 30 28 1.086064 400 434.4255656 28 1.086064 525 570.1836 31 29 1.083265 400 433.3061913 29 1.083265 525 568.7144 32 30 1.080474 400 432.1897012 30 1.080474 525 567.249 33 31 1.07769 400 431.076088 31 1.07769 525 565.7874 34 32 1.074913 400 429.9653442 32 1.074913 525 564.3295 35 33 1.072144 400 428.8574624 33 1.072144 525 562.8754 36 34 1.069381 400 427.7524353 34 1.069381 525 561.4251 37 35 1.066626 400 426.6502554 35 1.066626 525 559.9785 38 36 1.063877 400 425.5509156 36 1.063877 525 558.5356 39 37 1.061136 400 424.4544084 37 1.061136 525 557.0964 40 38 1.058402 400 423.3607265 38 1.058402 525 555.661 41 39 1.055675 400 422.2698627 39 1.055675 525 554.2292 42 40 1.052955 400 421.1818097 40 1.052955 525 552.8011 43 41 1.050241 400 420.0965602 41 1.050241 525 551.3767 44 42 1.047535 400 419.0141071 42 1.047535 525 549.956 45 43 1.044836 400 417.9344431 43 1.044836 525 548.539 46 44 1.042144 400 416.8575611 44 1.042144 525 547.1255 47 45 1.039459 400 415.7834538 45 1.039459 525 545.7158 48 46 1.03678 400 414.7121142 46 1.03678 525 544.3096 49 47 1.034109 400 413.6435351 47 1.034109 525 542.9071 50 48 1.031444 400 412.5777093 48 1.031444 525 541.5082 51 49 1.028787 400 411.5146299 49 1.028787 525 540.113 52 50 1.026136 400 410.4542896 50 1.026136 525 538.7213 53 51 1.023492 400 409.3966815 51 1.023492 525 537.3331 54 52 1.020854 400 408.3417985 52 1.020854 525 535.9486 55 53 1.018224 400 407.2896337 53 1.018224 525 534.5676 56 54 1.0156 400 406.2401799 54 1.0156 525 533.1902 57 55 1.012984 400 405.1934302 55 1.012984 525 531.8164 58 56 1.010373 400 404.1493776 56 1.010373 525 530.4461 59 57 1.00777 400 403.1080152 57 1.00777 525 529.0793 60 58 1.005173 400 402.0693361 58 1.005173 525 527.716 61 59 1.002583 400 401.0333333 59 1.002583 525 526.3562 62 60 1 400 400 60 1 525 525 63 At the end of 5th year - 25923.8108 At the end of 5th year - 34025 64 65 (a) Value after 60 payments for 5 years of 400 each = 25923.821 66 =E63 67 68 (b) At the end of 8th year - 69 25923.81 x (1.002583333^36) 28446.9788 70 =E63*1.0025833333^36 71 72 ( c) After making 60 monthly deposits for 5 years of 525 each - 73 Beginning value of old payments = 28446.9788 74 =F69 75 Future value after 5 years - 33209.70254 76 =F73*1.002583333^60 77 78 Add : future value of new payments - 34025.00167 79 =K63 80 81 Total value of fund - 67234.70421 82 =F78+F75 83 Monthly compounding rate (r)= 3.1/12 = 0.258333% 84 84 Please provide feedback… Thanks in Advance :-)
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