Suppose that David deposits $500 in your savings account that earns 5% annual interest. How much...
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
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Suppose that David deposits $500 in your savings account that
earns 5% annual interest. How much...
David has a savings account with a 8,000 balance today. The account earns an annual percentage...
David has a savings account with a 8,000 balance today. The account earns an annual percentage rate of interest of 1.75%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer: Answer
Sami's bank account earns 4% simple interest per year. If Sami deposits $500, how much simple...
Sami's bank account earns 4% simple interest per year. If Sami deposits $500, how much simple interest will she earn in one year?
1.)Suppose an account earns a 13% simple rate of interest annually. a. The future value of...
1.)Suppose an account earns a 13% simple rate of interest annually. a. The future value of an annual deposit of $21 at the end of each year for four years will be b.The future value of an annual deposit of $21 at the beginning of each year for four years will be Round your final answer to two decimal places. 2.) If the simple rate of interest is 6%, the interest earned by $1 in 5 years is:$_________ 3.) What...
Joe Smith makes 5 annual deposits of $5,000 in a savings account with and interest rate...
Joe Smith makes 5 annual deposits of $5,000 in a savings account
with and interest rate of 5% per year. One year after making the
last deposit, the interest changes to 6%. If the money is withdrawn
five years after the last deposit, how much money is withdrawn?
QUESTION 6 Joe Smith makes 5 annual deposits of $5,000 in a savings account with and interest rate of 5% per year. One year after making the last deposit, the interest changes...
Suppose you deposit 4859 today in a savings account that earns an annual interest rate of...
Suppose you deposit 4859 today in a savings account that earns an annual interest rate of 4.53% which is compounded annually. Assuming no withdrawals, how much would you have at the end of 8 years?
3. Suppose Tyrone wants to open a savings account that earns 3,5% simple interest per year....
3. Suppose Tyrone wants to open a savings account that earns 3,5% simple interest per year. He wants it to be worth S1500 in 4 years. How much does he need to deposit in the account today to make that happen? Round to the nearest whole dollar,
You make the following five end-of-year deposits into your investment account that earns 9% annual interest:...
You make the following five end-of-year deposits into your investment account that earns 9% annual interest: $600 in year 1, $700 in year 2, $500 in year 3, $300 in year 4, and $400 in year 5. Note that the first cash flow of $600 which occurs at the end of year 1 earns interest for four years.What is the balance in your investment account at the end of year 5? Round to the nearest dollar amount.
Suppose that $3659 is deposited in a savings account which earns 6.5% simple interest. -What is...
Suppose that $3659 is deposited in a savings account which earns 6.5% simple interest. -What is the amount due after 5 years? -What is the amount due after 2 years if the interest is compounded? -What is the equivalent six month interest rate?
Question 1 (0.2 points) David has a savings account with a 9,000 balance today. The account...
Question 1 (0.2 points) David has a savings account with a 9,000 balance today. The account earns an annual percentage rate of interest of 1.50%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer: Answer
An individual deposits an annual bonus into a savings account that pays 5% interest compounded annually....
An individual deposits an annual bonus into a savings account that pays 5% interest compounded annually. The size of the bonus increases by $4.600 each year, and the initial bonus amount was $20,000. Determine how much will be in the account immediately after the sixth deposit. A. $197,000 OB. $209.808 C. $300,523 D. $296,087
David has a savings account with a 8,000 balance today. The account earns an annual percentage rate of interest of 1.75%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer: Answer
Joe Smith makes 5 annual deposits of $5,000 in a savings account
with and interest rate of 5% per year. One year after making the
last deposit, the interest changes to 6%. If the money is withdrawn
five years after the last deposit, how much money is withdrawn?
QUESTION 6 Joe Smith makes 5 annual deposits of $5,000 in a savings account with and interest rate of 5% per year. One year after making the last deposit, the interest changes...
Suppose you deposit 4859 today in a savings account that earns an annual interest rate of 4.53% which is compounded annually. Assuming no withdrawals, how much would you have at the end of 8 years?
3. Suppose Tyrone wants to open a savings account that earns 3,5% simple interest per year. He wants it to be worth S1500 in 4 years. How much does he need to deposit in the account today to make that happen? Round to the nearest whole dollar,
Question 1 (0.2 points) David has a savings account with a 9,000 balance today. The account earns an annual percentage rate of interest of 1.50%, compounded monthly. David plans to make no other deposits or withdrawals. How many years will it take David's account balance to double? Your Answer: Answer
An individual deposits an annual bonus into a savings account that pays 5% interest compounded annually. The size of the bonus increases by $4.600 each year, and the initial bonus amount was $20,000. Determine how much will be in the account immediately after the sixth deposit. A. $197,000 OB. $209.808 C. $300,523 D. $296,087
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