Homework Answers
| APY | = | Interest for the year | / | Balance at the beginning |
| = | $ 16.00 | / | $ 390.00 | |
| = | 4.10% | |||
| APY is the annual percentage of yield.It means percentage of return on the investment for the year. | ||||
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What is the APY for a savings account with a $390 balance that receives $16 Interest...
What is the APY for a one-year $5,000 certificate of deposit with $825 Interest? (Round your...
What is the APY for a one-year $5,000 certificate of deposit with $825 Interest? (Round your answer to 2 decimals.) Multiple Choice o o В. 26% o 10.31% o 13.20% o 16.50%
A student puts $10,000 in a savings account that pays 16% annual interest, compounded semi-annually and...
A student puts $10,000 in a savings account that pays 16% annual interest, compounded semi-annually and quarterly. Round to the nearest cents. a) How much money will the student have at the end of 5 years? Ending Value: $ b) How much interest will the student have earned in 5 years? Interest Earned: $ c)What is the effective yield (APY)? APY: %, (written as percent, round to the two decimal place as needed)
If an account has an APR of 3%, compounded monthly, what is the APY? Give your...
If an account has an APR of 3%, compounded monthly, what is the APY? Give your answer as a percentage (but leave out the % symbol) and round to 2 decimal places. Suppose you put $1200 in a savings account at an APR of 5% compounded quarterly. How much interest was earned after 4 years? Round to the nearest cent and leave off the $ symbol.
4) Townville Bank offers a savings account that pays 3.25% annual interest compounded monthly. a) What...
4) Townville Bank offers a savings account that pays 3.25% annual interest compounded monthly. a) What is the yield (APY) on this account? Round to the nearest hundredth of a percent. [5 pt] b) If Amy makes a deposit of $15,000 into this account, how much will be in her account after 8 years? [8 pt]
Allie has $1000 invested in an account with an APY of 3.6%. How much interest will...
Allie has $1000 invested in an account with an APY of 3.6%. How much interest will she earn in one year? The amount of interest she will earn in one year is $ (Round to two decimal places.)
Allie has $1000 invested in an account with an APY of 3.9%. How much interest will...
Allie has $1000 invested in an account with an APY of 3.9%. How much interest will she earn in one year? . The amount of interest she will earn in one year is $ (Round to two decimal places.)
Lee Holmes deposited $15,500 in a new savings account at 10% interest compounded semiannually. At the...
Lee Holmes deposited $15,500 in a new savings account at 10% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,500 at 10% interest compounded semiannually. At the end of 6 years, what is the balance in Lee's account? (Do not round intermediate calculations. Round your answer to the nearest cent.) & Answer is complete but not entirely correct. Balance $ 75,045.35
You have a savings account that earns 5% Interest, compounded annually. A friend has offered you...
You have a savings account that earns 5% Interest, compounded annually. A friend has offered you an investment opportunity, he says that if you invest In his new business, he will pay you $34,000 a year for the next five years. What is the maximum amount you would be willing to invest in your friend's business? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV...
Lee Holmes deposited $17,200 in a new savings account at 11% interest compounded semiannually. At the...
Lee Holmes deposited $17,200 in a new savings account at 11% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $42,200 at 11% interest compounded semiannually. At the end of 6 years, what is the balance in Lee’s account? (Do not round intermediate calculations. Round your answer to the nearest cent.)
Lee Holmes deposited $17,000 in a new savings account at 9% interest compounded semiannually. At the...
Lee Holmes deposited $17,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $42,000 at 9% interest compounded semiannually. At the end of 6 years, what is the balance in Lee’s account? (Do not round intermediate calculations. Round your answer to the nearest cent.)
What is the APY for a one-year $5,000 certificate of deposit with $825 Interest? (Round your answer to 2 decimals.) Multiple Choice o o В. 26% o 10.31% o 13.20% o 16.50%
Allie has $1000 invested in an account with an APY of 3.6%. How much interest will she earn in one year? The amount of interest she will earn in one year is $ (Round to two decimal places.)
Allie has $1000 invested in an account with an APY of 3.9%. How much interest will she earn in one year? . The amount of interest she will earn in one year is $ (Round to two decimal places.)
Lee Holmes deposited $15,500 in a new savings account at 10% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,500 at 10% interest compounded semiannually. At the end of 6 years, what is the balance in Lee's account? (Do not round intermediate calculations. Round your answer to the nearest cent.) & Answer is complete but not entirely correct. Balance $ 75,045.35
You have a savings account that earns 5% Interest, compounded annually. A friend has offered you an investment opportunity, he says that if you invest In his new business, he will pay you $34,000 a year for the next five years. What is the maximum amount you would be willing to invest in your friend's business? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV...
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