Compound Interest Calculate periodically compounded interest Question George invested $4400 in an account with annually compounded...
Calculate compound interest Question An account is opened with an initial deposit of $5,500 and earns 2.5% interest compounded annually. What will the account be worth in 10 years? Round your answer to the nearest dollar. Provide your answer below:
12. Compound interest. You invest $1000 in an account that pays 5% compounded annually. What is the balance after two years? 13. Compounding using different periods. You invest $2000 in an account that pays an APR of 6%. a. What is the value of the investment after three years if interest is compounded yearly? Round your
(Compound interest) To what amount will the following investments accumulate? a. $5,200 invested for 9 years at 10 percent compounded annually. b. $7,900 invested for 7 years at 7 percent compounded annually c. $790 invested for 12 years at 12 percent compounded annually. d. $23,000 invested for 5 years at 4 percent compounded annually. a. To what amount will $5,200 invested for 9 years at 10 percent compounded annually accumulate? SIN (Round to the nearest cent.) nter your answer in...
A principal of $S1900 is invested at 6 % interest, compounded annually. How much will the investment be worth after 7 years? Use the calculator provided and round your answer to the nearest dollar. X
Question 6 0.6 pts Chester deposited $420728 into an account paying 5% interest compounded annually with the goal of letting the money accrue interest until the end of year 32. Unfortunately, Chester had a small health crisis at the end of year 10 and had to use the money in the account for several years to help with expenses. Chester made an annual withdrawal of $41167 at the end of each year for 5 years. Chester's health improved and he...
$1400 is invested at 5% compounded annually. What is the amount of the account at the end of 3 years? (See Example 2. Round your answer to the nearest cent.)
Find the value, in 2 years’ time, of $4000 invested at 5% compounded annually. In the following 2 years, the interest rate is expected to rise to 8%. Find the final value of the investment at the end of the 4-year period, and find the overall percentage increase. Give your answers correct to 2 decimal places. Find the value, in 2 years’ time, of $4000 invested at 5% compounded annually. In the following 2 years, the interest rate is expected...
If $16,000 is invested in an account for 15 years. Calculate the total interest earned at the end of 15 years if the interest is: (a) 5% simple interest: $ (b) 5% compounded annually: $ (c) 5% compounded quarterly: $ (d) 5% compounded monthly: $ Round your answers to the nearest cent.
Suppose that $17,000 is invested in a savings account paying 6.2% interest per year. (a) Write the formula for the amount A in the account after years of interest is compounded monthly Att) - (b) Find the amount in the account after 5 years ir interest is compounded daily (Round your answer to two decimal places) (c) How long will it take for the amount in the account to grow to $20,000 ir interest is compounded continuously? (Round your answer...
You deposit $2,500 at the end of the year ( 0) into an account that pays interest at a rate of 7% compounded annually. Two years after your deposit, the savings account interest rate changes to 12% nominal interest compounded monthly. Five years after your deposit, the savings account again changes its interest rate this time the interest rate becomes 8% nominal interest compounded quarterly Nine years after your deposit, the saving account changes its rate once more to 6%...