Regina Henry deposited $20,000 in a money market certificate that provides interest of 10% compounded quarterly if the amount is maintained for 3 years. How much will Regina have at the end of 3 years?
Regina Henry deposited $20,000 in a money market certificate that provides interest of 10% compounded quarterly...
Stacy Henry deposited $19,500 in a money market certificate that provides interest of 12% compounded quarterly if the amount is maintained for 4 years. How much will Stacy Henry have at the end of 4 years? (Round factor values to 5 decimal places, e.g. 1.25124. Round answers to the nearest whole dollar, e.g. 5,250.) Amount?
You deposited $20,000 in a savings account that pays 12 percent interest, compounded quarterly, planning to use it to finish your last year in college. Eighteen months later, you decide to go to the Rocky Mountains to become a ski instructor rather than continue in school, so you close out your account. How much money will you receive?
John is planning to retire in 15 years. Money can be deposited at 8% compounded quarterly. What quarterly amount must be deposited at the end of each quarter until John retires so that he can make a withdrawal of $ 23,376 semiannually over the first 5 years of his retirement. Assume that John's first withdrawal occurs at the end of six months after his retirement.
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...
Find the final amount of money in an account if $1,400 is deposited at 2 % interest compounded quarterly (every 3 months) and the money is left for 5 years. The final amount is $ Round answer to 2 decimal places Submit Question You deposit $4000 in an account earning 5% interest compounded continuously. How much will you have in the account in 10 years? Use this formula and round to the nearest cent. A Pem 5
Intro You invest $2,000 in a 4-year certificate of deposit (CD) that pays 4% interest, compounded annually Part 1 How much money will you have when the CD matures? 8 - Attempt 1 /10 for 10 pts. No decimals Submit Intro You've just deposited $8,000 in a savings account to save for a new car that you want to buy in 9 years. Part 1 How much money will you have in 9 years if the interest rate is 6%?...
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment of $850. (1) Calculate the principal. (2) How much of the principal is paid the first, 5th, 20th and last year? (3) How much interest is paid the first, 5th, 20th and last year year? (4) What is the total amount of money paid during the 30 years? (5) What is the total amount of interest paid during the 30 years? (6) What is...
How much money must be invested at 4% interest compounded quarterly to yield $50,000 after 10 years?
1a.Suppose the bank changed the interest policy to 7% interest, compounded quarterly, how much money would be in the account at the end of 2 years, assuming a $400 deposit now? b.How long will it take for your money to double at 13% nominal interest, compounded continuously?
You have deposited $1,500 in an account that promises to pay 8% compounded quarterly for the next five years. How much will you have in the account at the end?