Continental Bank advertnes capital savings 59% compounded annually while TD Canada Trust offers premium savings of...
0 The Continental Bank advertises capital savings at 5.8% compounded semi-annually while TD Canada Trust offers premium savings at 5.7% compounded monthly. Suppose you have $3000 to invest for two years. (a) Which deposit will earn more interest? (b) What is the difference in the amount of interest? (a) The savings account will earn more interest (b) The difference is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as...
For question (a) the options are (TD Canada Trust, or Continental Bank) The Continental Bank advertises capital savings at 6.3% compounded annually while TD Canada Trust offers premium savings at 6.05% compounded monthly. Suppose you have $2000 to invest for two years. (a) Which deposit wll earn more interest? (b) What is the difference in the amount of interest? (a) The ▼| savings account will earn more interest. (b) The difference is S Round the final answer to the nearest...
2020 This Question:... er 20 15 of 15 (1 complete) This Test: 50 ... 201 The Continental Bank advertises capital savings at 6.9% compounded annually while TD Canada Trust offers premium savings at 6.65% compounded monthly. Suppose you have $2500 to invest for two years. (a) Which deposit will earn more interest? (b) What is the difference in the amount of interest? (a) The savings account will earn more interest. ctic (b) The difference is $ (Round the final answer...
Suppose a bank offers a savings account with the interest rate of 6% compounded annually. If you deposit $100, how long does it take to triple your money if you do not withdraw any from your account?
4) Townville Bank offers a savings account that pays 3.25% annual interest compounded monthly. a) What is the yield (APY) on this account? Round to the nearest hundredth of a percent. [5 pt] b) If Amy makes a deposit of $15,000 into this account, how much will be in her account after 8 years? [8 pt]
Question 1 (0.2 points) Last national bank offers a CD paying 8% interest (compounded annually. If you invest $1000 how much will you have in $ at the end of year 8. Your Answer: Answer
A bank offers the following certificates of deposit: Terms in years Annual nominal interest rate, compounded semi-annually 1 5% 2 6% 3 7% 4 8% The bank requires that interest accumulate at the certificate’s interest rate, and does not permit early withdrawal. The certificates mature at the end of the term. During the next six years, the bank will continue to offer these certificates of deposit. Jeff invests 1000 in the bank. Calculate the maximum amount...
First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually.If you made a $ 57,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years? (Do not round intermediate calculations and round your answer 10 2 decimal places, e.g., 32.16.Difference in accounts = $_______
The Simple Bank offers a 8 percent simple interest on deposited money. The Not-So-Simple Bank pays 8 percent interest on deposited money, compounded annually. You can deposit your money in either one of these two banks. If your deposit equals $65,000, by how much more will your money grow if you deposit it into The Not-So-Simple Bank, rather than The Simple Bank, for a total of 8 years? (Do not round intermediate calculations and round your answer to 2...
First City Bank pays 9 percent simple interest on its savings account balances, whereas Second City Bank pays 9 percent interest compounded annually. If you made a deposit of $7,500 in each bank, how much more money would you earn from your Second City Bank account at the end of eight years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)diffence in accounts?