Number of years have been calculated using the NPER function:-
=NPER(rate,pmt,pv,fv)
=NPER(1.75%/12,,-8000,16000)/12
=39.64 years
David has a savings account with a 8,000 balance today. The account earns an annual percentage...
Question 1 (0.2 points) David has a savings account with a 9,000 balance today. The account earns an annual percentage rate of interest of 1.50%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer: Answer
Page 1: Question 20 (1 point) David has a savings account with a 4,000 balance today. The account earns an annual percentage rate of interest of 2.75%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer:
Suppose you deposit 4859 today in a savings account that earns an annual interest rate of 4.53% which is compounded annually. Assuming no withdrawals, how much would you have at the end of 8 years?
Pei's savings account balance is $12,000 today. Pei opened the account exactly 7 years ago with a $10,000 deposit. Pei has made no other deposits or withdrawals. What annual interest rate (compounded annually) has the account earned? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%)
Today you deposit 100$ today an account that earns 12% annual interest. If you do not make any additional deposits or withdrawals how long does it take to double your money ?
$5,000 is deposited today into a bank account. The account earns 3.2% per annum compounded half yearly for the first 7 years, then 8.2% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made, (d) Calculate the account balance 10 years from today. A loan of $100,000 is made today. The borrower will make equal repayments of $3800.75 per month with the first payment being exactly one month from today. The interest being charged on this loan...
Daniel plans to deposit $450 into a savings account at regular intervals of 3 months. He continues this for 5 years and then stops with the deposits. What is the value of the account after 10 years if the savings account earns interest at an annual interest rate of 5.5% compounded monthly Daniel plans to deposit $450 into a savings account at regular intervals of 3 months. He continues this for 5 years and then stops with the deposits. What...
You placed $9,331 in a savings account today that earns an annual interest rate of 8.69 percent, compounded semiannually. How much will you have in this account at the end of 19 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
You placed $7,527 in a savings account today that earns an annual interest rate of 10.25 percent, compounded semiannually. How much will you have in this account at the end of 2 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
You placed $2,227 in a savings account today that earns an annual interest rate of 4.75 percent, compounded semiannually. How much will you have in this account at the end of 9 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.