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Question 10 You are looking to invest $15,000 in a bank CD. Which one will have...
Your mother is trying to choose one of the following bank CDs to deposit $10,000. Which...
Your mother is trying to choose one of the following bank CDs to deposit $10,000. Which one will have the highest future value if she plans to invest for three years? (Assume a 365day year and use 4 decimal places.) Group of answer choices 3.44%, compounded daily 3.45%, compounded weekly 3.46%, compounded monthly 3.48%, compounded quarterly 3.50%, compounded annually.
1. Allen Paige is planning to invest $10,000 in a bank certificate of deposit (CD) for...
1. Allen Paige is planning to invest $10,000 in a bank certificate of deposit (CD) for five years. The CD will pay interest of 9 percent compounded annually. What is the future value of Allen’s investment? How much would that investment be if Allen received simple interest only instead of compounded interest? 2. Mary Grace expects to need $50,000 for a down payment on a house in six years. How much would she have to invest today in an account...
4. If you invest $50,000 to earn 8% interest, which of the following compounding approaches would...
4. If you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly C. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account after 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar.) a. $25,194...
You have $100,000 to invest into a bank. Bank A offers 17% compounded monthly. Bank B offers...
You have $100,000 to invest into a bank. Bank A offers 17% compounded monthly. Bank B offers 16.5% compounded quarterly. How much more money will you have in Bank A after two years?
Suppose you had $2600 to invest for 10 years. Using the table below calculate the value of...
Suppose you had $2600 to invest for 10 years. Using the table below calculate the value of your investment for the interest rates and compounding periods given Analyze your results to determine which matters more, the interest rate or the compounding period? $2600 for 10 years 3.5% 4% 4.5% Compounded Annually Compounded Quarterly Compounded Monthly
4. It you invest $50,000 to earn 8 % interest , which of the following compounding...
4. It you invest $50,000 to earn 8 % interest , which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly c. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account atter 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar.)...
You are considering three alternative investments: A three-year bank CD paying 7.18 percent compounded quarterly. Calculate...
You are considering three alternative investments: A three-year bank CD paying 7.18 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate A three-year bank CD paying 6.98 percent compounded monthly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate A three-year bank CD paying 7.48 percent compounded annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g....
*. Il you invest $50,000 to earn 8% interest, which of the following compounding approaches would...
*. Il you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly c. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account after 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar) a. $25,194...
You plan to invest an amount of money in five-year certificate of deposit (CD) at your...
You plan to invest an amount of money in five-year certificate of deposit (CD) at your bank. The stated interest rate applied to the CD is 12 percent, compounded monthly. How much must you invest if you want the balance in the CD account to be $8,500 in five years? Please explain the formula.
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the...
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the same day on the Internet, First Bank offered a 10-year CD at 4.79% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is % (Type an integer or decimal rounded to three decimal places as needed.) The APY for the CD at First Bank is % (Type an integer or decimal...
4. If you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly C. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account after 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar.) a. $25,194...
4. It you invest $50,000 to earn 8 % interest , which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly c. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account atter 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar.)...
You are considering three alternative investments: A three-year bank CD paying 7.18 percent compounded quarterly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate A three-year bank CD paying 6.98 percent compounded monthly. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g. 15.25%.) Effective annual rate A three-year bank CD paying 7.48 percent compounded annually. Calculate effective annual interest rate (EAR)? (Round answer to 2 decimal places, e.g....
*. Il you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly c. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account after 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar) a. $25,194...
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the same day on the Internet, First Bank offered a 10-year CD at 4.79% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is % (Type an integer or decimal rounded to three decimal places as needed.) The APY for the CD at First Bank is % (Type an integer or decimal...
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