Question

1.)Suppose an account earns a 13% simple rate of interest annually. a. The future value of...

1.)Suppose an account earns a 13% simple rate of interest annually.

a. The future value of an annual deposit of $21 at the end of each year for four years will be

b.The future value of an annual deposit of $21 at the beginning of each year for four years will be  

Round your final answer to two decimal places.

2.) If the simple rate of interest is 6%, the interest earned by $1 in 5 years is:$_________

3.) What is the future value of $12 deposited today in 5 years when earning 6% simple rate of interest?

4.)Deposits of $13 are made to an account each year for 31 years. If k=9% (simple rate of interest) per year, how much will be in the account at the end of 50 years? Round your final answer to two decimal places.

0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
1.)Suppose an account earns a 13% simple rate of interest annually. a. The future value of...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Question 14 1.81 pts Deposits of $13 are made to an account each year for 31...

    Question 14 1.81 pts Deposits of $13 are made to an account each year for 31 years. If k29% (simple rate of interest) per year, how much will be in the account at the end of 50 years? Round your final answer to two decimal places. 1.81 pts Question 15 You make a deposit of $46 cach year for 40 years in an account that earns a simple interest rate of 6% per year. If you make the first deposit...

  • helpProblem 5-1 Future Value (LG5-1) 25 Compute the future value in year 7 of a...

    Problem 5-1 Future Value (LG5-1) Compute the future value in year 7 of a $2,200 deposit in year 1, and another $1700 deposit at the end of year 4 using a 8 percent interest rate (Do not round intermediate calculations and round your final answer to 2 decimal places.) Problem 4 and 5-6 Present Value and Annuity Payments A local furniture store is advertising a deal in which you buy a $4,200 living room set with three years before you need to make...

  • Question 9 1.81 pts How will you enter 10% in a computational formula lot in financial...

    Question 9 1.81 pts How will you enter 10% in a computational formula lot in financial calculator Question 10 1.81 pts what is the future value of $12 deposited today in 5 years when earning 6% simple rate of interest? Question 11 1.81 pts In how, many years will $15O become S300 if k-02% simple interest per year? Question 12 1.81 pts At what rate of interest will an amount triple in 50 years? Enter your answer as decimals, not...

  • What is the present value of $100 ten years from now if the simple rate of...

    What is the present value of $100 ten years from now if the simple rate of interest is0.26? Round your final answer to two decimal places. Question 2 2 pts A deposit of $19 is made at the beginning of each year for 14 years, what is the future value of al deposits if simple rate of interest is 0.09? Round your final answer to two decimal places.

  • How much money should be deposited today in an account that earns 5% compounded semiannually so...

    How much money should be deposited today in an account that earns 5% compounded semiannually so that it will accumulate to $8000 in three years? The amount of money that should be deposited is $ (Round up to the nearest cent.) You deposit $14,000 in an account that pays 5% interest compounded quarterly A. Find the future value after one year B. Use the future value formula for simple interest to determine the effective annual yield. A. The future value...

  • What is the present value of $100 ten years from now if the simple rate of...

    What is the present value of $100 ten years from now if the simple rate of interest is0.12? Round your final answer to two decimal places. Question 2 2 pts A deposit of $19 is made at the beginning of each year for 14 years, what is the future value of all deposits if simple rate of interest is 0.09? Round your final answer to two decimal places. Question 3 2 pts In how many years will $100 become $320...

  • 1) If ​$4000 is deposited in a savings account that earns interest at an annual rate...

    1) If ​$4000 is deposited in a savings account that earns interest at an annual rate of 2.5​% interest compounded​ continuously, what is the value of the account at the end of two ​years? 2) A trust fund for a 11​-year-old child is being set up by a single payment so that at age 21 the child will receive ​$37,000. Find how much the payment is if an interest rate of 9​% compounded semiannually is assumed. 3) A bank account...

  • Use future value and present value calculations to determine the following (a) The future value of...

    Use future value and present value calculations to determine the following (a) The future value of a $400 savings deposit after eight years at an annual interest rate of 3 percent. Use Table 1. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value (b) The future value of saving $1,800 a year for five years at an annual interest rate of 4 percent. Use Table 2. (Round time value factor to 3...

  • You placed $6,464 in a saving account today that earns an annual interest rate of 13...

    You placed $6,464 in a saving account today that earns an annual interest rate of 13 percent, compounded semiannually. How much will you have in this account at the end of 20 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.

  • 1.)You make a deposit of $46 each year for 40 years in an account that earns...

    1.)You make a deposit of $46 each year for 40 years in an account that earns a simple interest rate of 6% per year. If you make the first deposit today, the future value of the deposits in 90 years will be:$___________ 2.)How will you enter 10% in a computational formula (not in a financial calculator)? 3.)At what rate of interest will an amount triple in 50 years? Enter your answer as decimals, not percentages (e.g., enter 0.01 instead of...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT