1. Suppose that an account earns 4.8% interest per annum. How much would need to be...
$5,000 is deposited today into a bank account. The account earns 4.5% per annum compounded half yearly for the first 6 years, then 4.8% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made, (a) Calculate the account balance six months from today. (b) Calculate the account balance 6 years from today. (c) Calculate the account balance 6.5 years from today. (d) Calculate the account balance 10 years from today.
$5,000 is deposited today into a bank account. The account earns 2.8% per annum compounded half yearly for the first 6 years, then 7.2% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made, Calculate the account balance 10 years from today.
$2,000 is deposited today into a bank account. The account earns 4.3% per annum compounded quarterly for the first 4 years, then 6.3% per annum compounded monthly thereafter. Assuming no further deposits or withdrawals are made, (a) Calculate the account balance six months from today. (b) Calculate the account balance 4 years from today. (c) Calculate the account balance 4.25 years from today. (d) Calculate the account balance 13 years from today.
$5,000 is deposited today into a bank account. The account earns 3.2% per annum compounded half yearly for the first 7 years, then 8.2% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made, (d) Calculate the account balance 10 years from today. A loan of $100,000 is made today. The borrower will make equal repayments of $3800.75 per month with the first payment being exactly one month from today. The interest being charged on this loan...
How much money should be deposited today in an account that earns 5% compounded semiannually so that it will accumulate to $8000 in three years? The amount of money that should be deposited is $ (Round up to the nearest cent.) You deposit $14,000 in an account that pays 5% interest compounded quarterly A. Find the future value after one year B. Use the future value formula for simple interest to determine the effective annual yield. A. The future value...
25. How much must be invested now in an account that earns 7% interest per year compounded quarterly for 8 years in order to have $1210 in the account at that time?
Assume you opened and deposited $1000.00 into a savings account that pays 4% per annum. If the bank compounds interest annually, how much will you have in your account at the end of 3 years (assuming no deposits or withdrawals are made for 3 years)? Find the balance if the bank compounds interest quarterly under the same conditions. Find the balance if the bank compounds interest continuously under the same conditions.
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?
1. Calculate the real interest rate per annum using the full Fisher equation if the nominal interest rate is 6% per annum and the inflation rate is 2% per annum. A. 3.92% B. 4.00% C. 8.00% D. 8.12% 5. Calculate the simple interest rate per to a nominal interest rate of 4% compounded monthly over a 24 period. A. 3.33% B. 4.00% C. 4.16% D. 6.67% 6. Michael made a deposit of $13,000 exactly 5 years ago into an account...
1, Compute the effective rate of interest (APY) if the stated rate is 5% per year, o ompounded aemi- m 2 ( 1.015) 1-1 .0500625- 0 0 500 615 IreRE 5.00625% (b) compounded quarterly (c) compounded monthly (d) compounded daily 2. Find the present value of an investment worth $10000 in eight years, with interest rate 6% compounded monthly. 3, You have an opportunity to invest some money in an account earning 3% interest, compounded continuously. How much should you...