Homework Answers
APY = 3.9%, PV = 1000
FV = PV*(1+r)^n
FV = 1000*(1+0.039)^1 = 1039
Interest earned in 1 year = 1039 - 1000 = 39.00
ANSWER : $39.00 [Thumbs up please]
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They also deposited $1,600 on each of her birthdays until she was
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Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
How much was in the savings account on her 17th birthday (after the
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Brief Exercise G-05 Mark and Betty Garfield invested $7,000 in a savings account paying 6% annual interest when their da...
Brief Exercise G-05
Mark and Betty Garfield invested $7,000 in a savings account
paying 6% annual interest when their daughter, Angela, was born.
They also deposited $1,000 on each of her birthdays until she was
17 (including her 17th birthday).
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
How much was in the savings account on her 17th birthday (after the
last deposit)? (Round answer to 2...
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.)
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Andrew and Emma Garfield invested $5,800 in a savings account
paying 7% annual interest when their daughter, Angela, was born.
They also deposited $1,600 on each of her birthdays until she was
17 (including her 17th birthday).
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
How much was in the savings account on her 17th birthday (after the
last deposit)? (Round answer to 2 decimal places, e.g....
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Brief Exercise G-05
Mark and Betty Garfield invested $7,000 in a savings account
paying 6% annual interest when their daughter, Angela, was born.
They also deposited $1,000 on each of her birthdays until she was
17 (including her 17th birthday).
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
How much was in the savings account on her 17th birthday (after the
last deposit)? (Round answer to 2...
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