A financial advisor recommends that a client deposit $2600 into a fund that earns 7.5% annual...
A financial advisor recommends that a client deposit $2600 into
a fund that earns 7.5% annual interest compounded monthly. What
will be the value of the investment after 7 years? Round to the
nearest cent.
Using the compound interest formula I got 4313,53?
Homework Answers
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A financial advisor recommends that a client deposit $2600 into
a fund that earns 7.5% annual...
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How much money should be deposited today in an account that earns 5% compounded semiannually so...
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...
2. A retirement account is opened with an initial deposit of $6,500 and earns 9.16% interest...
2. A retirement account is opened with an initial deposit of $6,500 and earns 9.16% interest compounded monthly. What will the account be worth in 45 years? (Round your answer to the nearest cent.)
Classify the financial problem. Assume a 6% interest rate compounded annually. What annual deposit is necessary...
Classify the financial problem. Assume a 6% interest rate compounded annually. What annual deposit is necessary to give $10,000 in 5 years? o ordinary annuity O future value O present value O amortization O sinking fund Answer the question. (Round your answer to the nearest cent.) $
Amanda invests $7000 in a new savings account which earns 5.0% annual interest, compounded quarterly. What...
Amanda invests $7000 in a new savings account which earns 5.0% annual interest, compounded quarterly. What will be the value of her investment after 4 years? Round to the nearest cent.
Red Company invested $20,000 in a fund that was earning interest at a rate of 4.00%...
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Adams Spear invested $16,000 today in a fund that earns 8% compounded annually. Click here to...
Adams Spear invested $16,000 today in a fund that earns 8%
compounded annually.
Click here to view factor tables
To what amount will the investment grow in 3 years? To what amount
would the investment grow in 3 years if the fund earns 8% annual
interest compounded semiannually? (Round factor values
to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal
places, e.g. 458,581.)
Investment at 8% annual
interest
$
Investment at 8% annual
interest, compounded semiannually
$
Please help If Bob and Judy combine their savings of $1,800 and $700, respectively, and deposit...
Please help
If Bob and Judy combine their savings of $1,800 and $700, respectively, and deposit this amount into an account that pays 9% annual interest, compounded monthly, what will the account balance be after 7 years? The account balance in 7 years will be $ (Round to the nearest cent.)
3. A deposit of 5000 dollars earns 8 percent annual interest. Find the amount in the...
3. A deposit of 5000 dollars earns 8 percent annual interest. Find the amount in the account at the end of 6 years and the amount of interest earned during the 6 years if the interest is compounded: (a) (3pts) monthly (b) (3pts) continuously
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...
Classify the financial problem. Assume a 6% interest rate compounded annually. What annual deposit is necessary to give $10,000 in 5 years? o ordinary annuity O future value O present value O amortization O sinking fund Answer the question. (Round your answer to the nearest cent.) $
Amanda invests $7000 in a new savings account which earns 5.0% annual interest, compounded quarterly. What will be the value of her investment after 4 years? Round to the nearest cent.
Adams Spear invested $16,000 today in a fund that earns 8%
compounded annually.
Click here to view factor tables
To what amount will the investment grow in 3 years? To what amount
would the investment grow in 3 years if the fund earns 8% annual
interest compounded semiannually? (Round factor values
to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal
places, e.g. 458,581.)
Investment at 8% annual
interest
$
Investment at 8% annual
interest, compounded semiannually
$
Please help
If Bob and Judy combine their savings of $1,800 and $700, respectively, and deposit this amount into an account that pays 9% annual interest, compounded monthly, what will the account balance be after 7 years? The account balance in 7 years will be $ (Round to the nearest cent.)
3. A deposit of 5000 dollars earns 8 percent annual interest. Find the amount in the account at the end of 6 years and the amount of interest earned during the 6 years if the interest is compounded: (a) (3pts) monthly (b) (3pts) continuously
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