5. Sam deposits 40,000 for three years at 3.5% annual interest. How much is in the...
Suppose that David deposits $500 in your savings account that earns 5% annual interest. How much will he have in your account after four years using (a) simple interest and (b) compound interest? (c) calculate the principal and amount of interest earned for each year
I invest a large sum of money into an account that gives 3.5% annual interest compounded monthly. I leave the money in the account for 20 years. At the end of the 20 years I now have $420,300. How much did I originally invest?
Dalia deposits $1,200 in an account that earns 5% interest per year compounded continuously. How much will the account be worth in 3 years?
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...
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid at a 7.5% annual rate, compounded monthly, what lump sum would you need to deposit into your account today in order to have the $40,000 after 5 years?
3. You wish to purchase a $40,000 new car in 5 years. If interest is paid at a 7.5% annual rate, compounded monthly, what lump sum would you need to deposit into your account today in order to have the $40,000 after 5 years ?
How much will $20,000 invested today at 3 percent interest be worth in 5 years if it is compounded annually? How much will it be worth in 5 years if compounded monthly? Value Today- Rate- Number of years- Months per year- Compounding periods- Rate per quarter- Annual FV- Monthly FV-
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*
Sam Monte deposits $21,500 into Legal Bank which pays 6 percent interest that is compounded semiannually. By using the table in the handbook, what will Sam have in his account at the end of 6 years?
You are going to deposit $4,200 in an account that pays .48 percent monthly interest. How much will you have in 5 years? Note : The given interest rate (.48 percent) is monthly interest rate, not the usual given annual interest rate compounded monthly. Multiple Choice $5,624.79 $5,571.18 $5,557.21 $5,597.92 $5,603.52