Alex makes deposits of 7600 dollars on a yearly basis into an account paying 7.5 percent nominal interest convertible semiannually. How much is in the account immediately after the 14th deposit is made?
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Alex makes deposits of 7900 dollars on a yearly basis into an account paying 9.1 percent nominal interest convertible semiannually . How much is in the account immediately after the 14th deposit is made?
David makes a sequence of 34 monthly deposits of 530 dollars each into an account paying interest convertible monthly. Immediately after making the 34th deposit, the account balance is 19741.55 dollars. What is the nominal rate of interest convertible monthly?
Hannibal opens a savings account on January 1, 1984 with a deposit of 330 dollars, and continues to make deposits of the same amount at the beginning of each month until January 1, 1990, when he makes the final deposit. If the account pays a nominal rate of interest of 4.7 percent convertible monthly, how much is in the account on January 1, 1998? (1 point) Hannibal opens a savings account on January 1, 1984 with a deposit of 330...
(1 point) Hannibal opens a savings account on January 1, 1984 with a deposit of 330 dollars, and continues to make deposits of the same amount at the beginning of each month until January 1, 1990, when he makes the final deposit. If the account pays a nominal rate of interest of 5.9 percent convertible monthly, how much is in the account on January 1, 1998?
Janelle makes monthly deposits of 90 dollars into an account that pays an effective rate of interest of 6 percent. How much will she have in the account immediately after the 24th deposit? (Hint: What is the formula for an annuity?)
HW21: Problem 4 Previous Problem Problem List Next Problem (1 point) Grandma decides to put 1100 dollars every month into an account for you. She makes 18 monthly deposits, the last coming September 1, 2019 - the day you start college. She wants you to be able to withdraw money from this account at the beginning of each month, with the first withdrawal coming September 1, 2019 and the last coming June 1, 2024, (when you'll graduate). (Note: that makes...
Deposits are made at the end of years 1 through 7 into an account paying 9.5% per year interest. The deposits start at $5,600 and increase by $700 each year. How much will be in the account immediately after the last deposit?
Starting on October 1, 2003, annual deposits of $155 are made into an account paying interest at a rate of 8.4% compounded monthly. How much is in the account immediately after the deposit on October 1, 2030? *do not round intermediate steps*
6. Brian makes a deposit into an account which credits interest at a nominal interest rate of 10% per annum, convertible semiannually. At the same time, John deposits $1,000 into a different account, which is credited with simple interest. At the end of 5 years, the forces of interest on the two accounts are equal, and John's account has accumulated to $X. Determine X. A. 1953 B. 1943 C. 1933 D. 1923 E. 1913
Math Interest Theory/ Financial Math Please Use Formulas 2. (4pts) Deposits of $500 are made at the beginning of every quarterly year for 20 years in order to accumulate an annuity paying $X at the end of each year for 10 years, with the first payment starting at the end of year 21. Find X if the nominal interest rate is 6% convertible monthly. (Answer: $10,651.72) 3. (3pts) You want to accumulate $10,000 at the end of five years by...