Homework Answers
Ans 14.75%
| INTEREST = | Principal * Rate * Time |
| 112 = | 1886 * R% * 147/365 |
| R% = | 112 * 365 / (147 * 1886) |
| R% = | 14.75% |
Add Answer to:
Suppose Alexus has a $1886 savings account with her bank and she received a $112 check...
Suppose Alexus has a $1518 savings account with her bank and she received a $230 check...
Suppose Alexus has a $1518 savings account with her bank and she received a $230 check for interest from her bank. If she deposited the balance in her account 102 days ago, then what is the annual interest rate her bank is paying her? Answer Check
Adele deposited $25,000 into her savings account on September 17, 2018. (a) If Adele's account earns...
Adele deposited $25,000 into her savings account on September 17, 2018. (a) If Adele's account earns an effective annual interest rate of 3.5%, how much money will Adele have in her account on September 17, 2025? account to accumulate to $40,000? effective annual interest rate she earns on her deposit? (b) If Adele's account earns an effective annual interest rate of 3.5%, how long will it take her (c) Suppose that Adele will have $30,000 in her account by September...
Olivia deposited $800 at her local credit union in a savings account at the rate of...
Olivia deposited $800 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She will earn Interest once a year for the next 7 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Olivia in 7 years? O $1,218.88 $852.68 $1,147.20 $149.60 Now, assume that Olivia's credit union pays a compound interest rate of 6.2% compounded annually. All other things being equal,...
On December 29, 2018, an employee received a $5,000 check from her employer’s client. The check...
On December 29, 2018, an employee received a $5,000 check from her employer’s client. The check was payable to the employer. The employee did not remit the funds to the employer until December 30, 2018. The employer deposited the check on December 31, 2018, but the bank did not credit the employer’s bank account until January 2, 2019. When is the cash basis employer required to include the $5,000 in gross income? What is a “Series EE Bond”? When would...
Jane currently has $5,700 in her savings account and $2,000 in her checking account at the local bank. Instructions: Use a positive number to represent an increase and a negative number to represent a decrease. a. Suppose she withdraws $350 in cas
Jane currently has $5,700 in her savings account and $2,000 in her checking account at the local bank. Instructions: Use a positive number to represent an increase and a negative number to represent a decrease. a. Suppose she withdraws $350 in cash from her savings account. By what dollar amount does the country's money supply (M1 and M2) change as a result of Jane's actions?b. Now suppose instead that Jane withdraws $350 from her checking account and uses $190 of this money to pay her federal...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds int...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds interest annually, how much will you have in your account in four years? b. What would your balance be in four years if the bank used quarterly com- pounding rather than annual compounding? C. Suppose you deposited the $1,000 in four payments of $250 each year beginning one year from now. How much would you have in your account after...
Jane currently has $5,100 in her savings account and $2,000 in her checking account at the...
Jane currently has $5,100 in her savings account and $2,000 in her checking account at the local bank. Instructions: Use a positive number to represent an increase and a negative number to represent a decrease. a. Suppose she withdraws $350 in cash from her savings account. By what dollar amount does the country's money supply (M1 and M2) change as a result of Jane's actions? Change in M1: $____ Change in M2: $____ b. Now suppose instead that Jane withdraws...
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account...
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is $62,625. How long ago did she make the initial deposit if the annual interest rate on the account is 5 percent? Multiple Choice 29.51 years 0 29.72 years 29.72 years 30.13 years 30.00 years 29.67 years
4. (a) Suppose Fannie Rich wants to put her money in the bank so that she...
4. (a) Suppose Fannie Rich wants to put her money in the bank so that she could get $5,000 in 5 years; if the bank is willing to pay annual interest of 2% for that amount of money, what is the value of Fannie’s money today? (b) Using the Rule of 72 and the rate of 2%, Fannie could probably have doubled her money in how many years? 5. (a) What is the difference between simple and compound interests rates?...
Leslie Mosallam, who recently sold her Porsche, placed $8,400 in a savings account paying annual compound...
Leslie Mosallam, who recently sold her Porsche, placed $8,400 in a savings account paying annual compound interest of 7 percent.a. Calculate the amount of money that will accumulate if Leslie leaves the money in the bank for 2, 6, and 16 year(s).b. Suppose Leslie moves her money into an account that pays 9 percent or one that pays 11 percent. Rework part (a) using 9 percent and 11 percent. c. What conclusions can you draw about the relationship between interest...
Suppose Alexus has a $1518 savings account with her bank and she received a $230 check for interest from her bank. If she deposited the balance in her account 102 days ago, then what is the annual interest rate her bank is paying her? Answer Check
Adele deposited $25,000 into her savings account on September 17, 2018. (a) If Adele's account earns an effective annual interest rate of 3.5%, how much money will Adele have in her account on September 17, 2025? account to accumulate to $40,000? effective annual interest rate she earns on her deposit? (b) If Adele's account earns an effective annual interest rate of 3.5%, how long will it take her (c) Suppose that Adele will have $30,000 in her account by September...
Olivia deposited $800 at her local credit union in a savings account at the rate of 6.2% paid as simple interest. She will earn Interest once a year for the next 7 years. If she were to make no additional deposits or withdrawals, how much money would the credit union owe Olivia in 7 years? O $1,218.88 $852.68 $1,147.20 $149.60 Now, assume that Olivia's credit union pays a compound interest rate of 6.2% compounded annually. All other things being equal,...
Future 0.23 Suppose that you deposit $1,000 into a savings account that pays 8 percent. a If the bank compounds interest annually, how much will you have in your account in four years? b. What would your balance be in four years if the bank used quarterly com- pounding rather than annual compounding? C. Suppose you deposited the $1,000 in four payments of $250 each year beginning one year from now. How much would you have in your account after...
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is $62,625. How long ago did she make the initial deposit if the annual interest rate on the account is 5 percent? Multiple Choice 29.51 years 0 29.72 years 29.72 years 30.13 years 30.00 years 29.67 years
Most questions answered within 3 hours.
-
An aqueous solution of barium hydroxide is
standardized by titration with a 0.196 M solution
of...
asked 5 minutes ago -
accorsing to the data from thw college board, the mean wuantitive
Sat score for s demale...
asked 1 hour ago -
1- What are 5 general characteristics of Botticelli’s
paintings?
2- Describe 5 important traits of Flemish...
asked 2 hours ago -
A golfer claims that his average golf score at the course he
plays regularly is less...
asked 3 hours ago -
On May 1, First Bank perfected a security interest in Debtor’s
inventory. On June 1, Bob...
asked 3 hours ago -
A new kind of typhoid shot is being developed by a medical
research team. The old...
asked 5 hours ago -
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 7 hours ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 7 hours ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 10 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 10 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 10 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 10 hours ago