In this question, by using the given information I have find the Forgone interest, Interest on Borrowed amount and the Trip Cost..
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You are saving for a trip to Europe. You have an existing savings account that earns...
I got part c wrong! Jamie is saving for a trip to Europe. She has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. Jamie doesn't want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. She will repay the loan in exactly one year. The annual interest rate is 6 percent. a. If Jamie were to withdraw the $1,600 from her...
You decide to save for your dream vacation to Europe (London, Paris, and Rome). You want to be able to travel in 9 years. If you believe your trip will cost $5,845 and you can earn 9.2 percent annual interest on your savings, how much must you deposit today so you can afford your trip in 9 years? DO NOT USE DOLLAR SIGNS OR COMMAS IN YOUR ANSWER. ROUND ANSWER TO THE NEAREST DOLLAR.
You placed $6,464 in a saving account today that earns an annual interest rate of 13 percent, compounded semiannually. How much will you have in this account at the end of 20 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
You placed $6,011 in a savings account today that earns an annual interest rate of 12.46 percent, compounded semiannually. How much will you have in this account at the end of 11 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places. nal places. Your Answer:
You placed $6,960 in a savings account today that earns an annual interest rate of 8.48 percent, compounded semiannually. How much will you have in this account at the end of 16 years? Assume that all interest received at the end of the period is reinvested the next period.
You placed $9,331 in a savings account today that earns an annual interest rate of 8.69 percent, compounded semiannually. How much will you have in this account at the end of 19 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
You placed $7,527 in a savings account today that earns an annual interest rate of 10.25 percent, compounded semiannually. How much will you have in this account at the end of 2 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
You placed $2,227 in a savings account today that earns an annual interest rate of 4.75 percent, compounded semiannually. How much will you have in this account at the end of 9 years? Assume that all interest received at the end of the period is reinvested the next period. Round the answer to two decimal places.
You placed $9,358 in a savings account today that earns an annual interest rate of 9 percent compounded annually. How much you will have in this account at the end of 29 years? Assume that all interest received at the end of the year is reinvested the next year. Round the answer to two decimal places.
You decide to save up for a big trip and deposit 882 in a special vacation account today. If your account earns 4.94% annually, how much will you have available to spend in 8 years? Round to two decimal places (Ex. $0,000.00) If you want to have $2,971 in 8 years, how much money must you put in a savings account today? Assume that the savings account pays 5.1% and it is compounded annually. Round to two decimal places (Ex....