If $2000 is invested in an account that is compounded quarterly with an annual interest rate...
10. $27,000 is invested in an account that pays 6% annual interest compounded quarterly. a. What will be the value of the account after 6 years? b. Find the year when the account will be worth $68,000?
Joe invested $25,000 in an account that will draw 6.9% interest compounded quarterly for the next 10 years while Susan invests $25,000 in an account that will draw 6.8% interest compounded continuously over the next 10 years. Who will have the most money at the end of the 10 years? What is the effective interest rate for 8% interest compounded daily?
1. Gordon invested $46,000 into a CD compounded quarterly with an annual interest rate at 2.90% Determine how much money Gordon will have after 5 years. Round your answer to the nearest cent. 2.Polonium-210 is a radioactive substance with a half-life of 138 days. If a nuclear facility is handling 285 grams of polonium-210, then how many grams of polonium-210 will be left in 350 days?
Question 24 (4 points) Gordon invested $93,000 into a CD compounded quarterly with an annual interest rate of 2.65%. Determine how much money Gordon would have after 7 years. Round your answer to the nearest cent. Provide only a numerical answer (For example, if the final amount came to $5,023.97, then you would input 5023.97). Your Answer: Answer
Problem 1: If you deposit $4000 into an account paying 6% annual interest compounded quarterly, howmuch money will be in the account after 5 years? Problem 2: If you deposit $6500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 7 years?
If $200 is invested at 3% interest rate, find the amount in the account after 5 years given the interest is compounded: Annually: Quarterly: Hourly: Continuously:
If $10,000 is invested in a money market account that earns an annual rate of interest of r, and interest is compounded weekly, then after 10 years the future value ( FV ) of the initial investment is given by the formula FV = 10,000[1+ r/ 52 ] ^ 520. (a) How does the future value change with the annual rate of interest? (b) Derive the elasticity of the future value with respect to the annual rate of interest? (c)...
If a saving account pays interest at an annual rate of 4% compounded quarterly, the amount of $1 left on deposit for 6 years would be found in a table using which factor: A. 6 periods, 1% B. 24 periods, 1% C. 6 periods, 4% D. 24 periods, 4%
Question 7 If A, dollars are invested at annual interest rate r, compounded monthly, then after years the account will have grown to 12: A) = A 1 + 12 If $3000 is placed into an account eaming 10% annual interest, compounded monthly, how much will it grow to after 10 years? (1-2) $6607.30 $8121.12 $8230.43 $6944.62
How much money should a company deposit in an account with an annual interest rate of 4%, compounded quarterly, in order to have $50,000 in six years? (Round to the nearest dollar) (a) $41,923 (b) $38,844 (c) $39,378 (d) $50,000