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What is the balance after 1 year of an account containing $1200 which earns a yearly...
(1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4%...
(1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4% compounded monthly? Answer $ b) How much will you have after 25 years if you put $1200 per month in the account that instead earns 5% compounded monthly? Answer $
(1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4%...
Homework 08: Problem 3 Prev Up Next Prev (1 pt) What is the balance after 1...
Homework 08: Problem 3 Prev Up Next Prev (1 pt) What is the balance after 1 year of an account containing $800 which earns a yearly nominal interest of 5% that is compounded (round all answers to the nearest cent; do not include commas): (a) annually? $ 840 (b) weekly (there are 52 weeks per year)? $ 1312 (c) every minute (there are 525,600 minutes per year)? $ (d) continuously? $ Note: You can earn partial credit on this problem....
If you open a savings account that earns 6.5% simple interest per year, what is the...
If you open a savings account that earns 6.5% simple interest per year, what is the minimum number of years you must wait to double your balance? Suppose you open another account that earns 5% interest compounded yearly. How many years will it take now to double your balance? The minimum number of years you must wait to double your balance is__________for the simple interest of 6.5%. (Round up to the nearest whole number.) The minimum number of years you...
Starting at age 35, you deposit $2000 a year into an IRA account for retirement. Treat the yearly...
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Starting at age 35, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into the account continuously, how much will be in the account 30 years later, when ou retire at age 65? How much of the final amount is What is the value of the IRA when you turn 65? S (Round to the nearest dollar as needed.) an RA acountforreti e ment Treat the yearly deposits into...
1) If $4000 is deposited in a savings account that earns interest at an annual rate...
1) If $4000 is deposited in a savings account that earns interest at an annual rate of 2.5% interest compounded continuously, what is the value of the account at the end of two years? 2) A trust fund for a 11-year-old child is being set up by a single payment so that at age 21 the child will receive $37,000. Find how much the payment is if an interest rate of 9% compounded semiannually is assumed. 3) A bank account...
1. Suppose that an account earns 4.8% interest per annum. How much would need to be...
1. Suppose that an account earns 4.8% interest per annum. How much would need to be deposited now in order to have $10000 in 5 years if there interest is compounded (a) Monthly; (b) Continuously? Give answers to the nearest dollar. 2. If an investment of $20000 is made in an account returning 3.2% then how long will it take for the account to have $24000 if (a) Interest is compounded quarterly? (four times a year) (b) Interest is compounded...
Dewey plans on depositing $1200 every year into a bank account that earns a 4% APR...
Dewey plans on depositing $1200 every year into a bank account that earns a 4% APR until he's 65, he is currently 25. What would be the total amount of money he deposited, balance at age 65 using the TVM solver, and how much interest would he have earned? N= I%= PV= PMT= FV= P/Y= C/Y= PMT: End Balance:_______
o continuously for 7 years, the account balance is 3. Find the account balance for the...
o continuously for 7 years, the account balance is 3. Find the account balance for the following when 5650 is invested with an anna interest rate of 0.4% when the interest is compounded a) monthly for 45 years, the account balance is b) seriamaly for 56 months, the account balance is c) quartery for 225 years, the account balance is continuously for 3 years, the account balance is 4. Find the doubling time found to the nearest hundredth when $2.500...
Dalia deposits $1,200 in an account that earns 5% interest per year compounded continuously. How much...
Dalia deposits $1,200 in an account that earns 5% interest per year compounded continuously. How much will the account be worth in 3 years?
David has a savings account with a 8,000 balance today. The account earns an annual percentage...
David has a savings account with a 8,000 balance today. The account earns an annual percentage rate of interest of 1.75%, 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: Answer
(1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4% compounded monthly? Answer $ b) How much will you have after 25 years if you put $1200 per month in the account that instead earns 5% compounded monthly? Answer $
(1 point) a) How much will you have in an account after 25 years if you put $1200 per month in the account earns 4%...
Homework 08: Problem 3 Prev Up Next Prev (1 pt) What is the balance after 1 year of an account containing $800 which earns a yearly nominal interest of 5% that is compounded (round all answers to the nearest cent; do not include commas): (a) annually? $ 840 (b) weekly (there are 52 weeks per year)? $ 1312 (c) every minute (there are 525,600 minutes per year)? $ (d) continuously? $ Note: You can earn partial credit on this problem....
anwer is part as
well.
Starting at age 35, you deposit $2000 a year into an IRA account for retirement. Treat the yearly deposits into the account continuously, how much will be in the account 30 years later, when ou retire at age 65? How much of the final amount is What is the value of the IRA when you turn 65? S (Round to the nearest dollar as needed.) an RA acountforreti e ment Treat the yearly deposits into...
1. Suppose that an account earns 4.8% interest per annum. How much would need to be deposited now in order to have $10000 in 5 years if there interest is compounded (a) Monthly; (b) Continuously? Give answers to the nearest dollar. 2. If an investment of $20000 is made in an account returning 3.2% then how long will it take for the account to have $24000 if (a) Interest is compounded quarterly? (four times a year) (b) Interest is compounded...
o continuously for 7 years, the account balance is 3. Find the account balance for the following when 5650 is invested with an anna interest rate of 0.4% when the interest is compounded a) monthly for 45 years, the account balance is b) seriamaly for 56 months, the account balance is c) quartery for 225 years, the account balance is continuously for 3 years, the account balance is 4. Find the doubling time found to the nearest hundredth when $2.500...
David has a savings account with a 8,000 balance today. The account earns an annual percentage rate of interest of 1.75%, 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: Answer
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