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QUESTION 6 $40,000 is deposited in an account that pays 5.5% annual interest. You want to...
How much interest is earned in an account by the end of 5 years if $30,000...
How much interest is earned in an account by the end of 5 years if $30,000 is deposited and interest is 4% per year, compounded semi-annually? What is the balance in an account at the end of 10 years if $6,500 is deposited today and the account earns 3% interest compounded annually? If you wish to accumulate $50,000 in 10 years, how much must you deposit today in an account that pays annual interest rate of 8%, with semi-annual compounding...
1. You won $100 000 in a lottery and you want to set some of that...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
14.Compound Interest hank account pays compound interest, it pays interest not only on the principal amount...
14.Compound Interest hank account pays compound interest, it pays interest not only on the principal amount that was deposited into the account, but also on the interest that has accumulated over time. Suppose you want to deposit some money into a savings account, and let the account earn compound interest for a certain number of years. The formula for calculating the balance of the account afer a specified namber of years is The terms in the formula are A is...
Question 6 0.6 pts Chester deposited $420728 into an account paying 5% interest compounded annual...
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...
1. If $5,000 is deposited into a savings account that pays 8% interest, compounded quarterly Ya)...
1. If $5,000 is deposited into a savings account that pays 8% interest, compounded quarterly Ya) What will the balance be after 6 years? (5 points)
Question 15 O Mark this question Suppose an account pays 6% interest that is compounded annually....
Question 15 O Mark this question Suppose an account pays 6% interest that is compounded annually. At the beginning of each year, $2,000 is deposited into the account (starting with $2,000 for the first year) What is the value of the account after the tenth deposit if no withdrawals or additional deposits are made? 0 $21,200.00 O $26,361.59 O $23,581.70 O $35,816.95 Suppose $15,000 is deposited into an account paying 6.5% interest, which is compounded annually. How much money is...
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...
You have just deposited $6,000 into an account that promises to pay you an annual interest...
You have just deposited $6,000 into an account that promises to pay you an annual interest rate of 5.5 percent each year for the next 6 years. You will leave the money invested in the account and 10 years from today, you need to have $12,800 in the account. What annual interest rate must you earn over the last 4 years to accomplish this goal? Multiple Choice 10.64% 10.48% 9.22% 12.97% 11.53%
#6 Suppose that you do 30000 in a wings out that pays 9% annual interest with...
#6
Suppose that you do 30000 in a wings out that pays 9% annual interest with interest credited to the account at the end of each you. Antingen werdend that interest compounded computer (a) and (b) below (a) Find the balance in the counter 5 years Find the balance in the account her years and 10 months The amount of money in the court or 5 years in Round to the nearest as needed) The amount of money in the...
You will deposit $10,000 into an account at the beginning of each year for 10 years....
You will deposit $10,000 into an account at the beginning of each year for 10 years. This account earns 10% simple interest per year, payable at the end of the year. Any interest earned in the account will be deposited into a second account. This account pays 5% interest, compounded semi-annually for the first 5 years, and pays a constant force of interest of 5% for the second 5 years. What is the total accumulated value in both accounts at...
1. You won $100 000 in a lottery and you want to set some of that sum aside for 10 years. After 10 years, you would like to receive $2400 at the end of every 3 months for 8 years. How much of your winnings must you set aside if interest is 5.5% compounded quarterly? 2. A sum of money is deposited at the end of every month for 10 years at 7.5% compounded monthly. After the last deposit, interest...
14.Compound Interest hank account pays compound interest, it pays interest not only on the principal amount that was deposited into the account, but also on the interest that has accumulated over time. Suppose you want to deposit some money into a savings account, and let the account earn compound interest for a certain number of years. The formula for calculating the balance of the account afer a specified namber of years is The terms in the formula are A is...
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...
1. If $5,000 is deposited into a savings account that pays 8% interest, compounded quarterly Ya) What will the balance be after 6 years? (5 points)
Question 15 O Mark this question Suppose an account pays 6% interest that is compounded annually. At the beginning of each year, $2,000 is deposited into the account (starting with $2,000 for the first year) What is the value of the account after the tenth deposit if no withdrawals or additional deposits are made? 0 $21,200.00 O $26,361.59 O $23,581.70 O $35,816.95 Suppose $15,000 is deposited into an account paying 6.5% interest, which is compounded annually. How much money is...
#6
Suppose that you do 30000 in a wings out that pays 9% annual interest with interest credited to the account at the end of each you. Antingen werdend that interest compounded computer (a) and (b) below (a) Find the balance in the counter 5 years Find the balance in the account her years and 10 months The amount of money in the court or 5 years in Round to the nearest as needed) The amount of money in the...
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