2. How much interest is earned in an account by the end of 8 years...
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2. How much interest is earned in an account by the end of 8 years...
How much interest is earned in an account by the end of 5 years if $30,000...
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...
If you wish to accumulate $249,000 in 6 years, how much must you deposit today in...
If you wish to accumulate $249,000 in 6 years, how much must you deposit today in an account that pays a quoted annual interest rate of 13% with quarterly compounding of interest? $119,599.31 $115,568.08 $159,067.09 $105,282.52 $198,534.86
6. What will $150,000 grow to be in 15 years if it is invested in an account...
6. What will $150,000 grow to be in 15 years if it is invested in an account with a quoted annual interest rate of 10% with monthly compounding of interest? 7. How many years will it take for $200,000 to grow to be $600,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest? 8. At what quoted annual interest rate must $135,000 be invested so that it will grow to be $460,000...
How much money should be deposited today in an account that earns 5% compounded semiannually so...
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...
Pete Frost made a deposit into his savings account 3 years ago and earned interest at...
Pete Frost made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $20,500. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? terly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) Annually (b) Semiannually (c) Quarterly
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2%...
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2% nominal interest compounded month y Five years after ur de o the savings account aga changes it interest rate this time e interest rate becomes 8% nominal interest compounded quarterly. Eight years after your deposit, the saving account changes its rate...
Instructions: Using Financial Formulas in Excel, answer the following time value of money problems in a...
Instructions: Using Financial Formulas in Excel, answer the following time value of money problems in a single Excel worksheet. You can round to the nearest dollar. You must turn in your answers in an Excel document. 1. 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? 2. What is the balance in an account at the end of 10 years if $6,500 is...
Instructions: Using Financial Formulas in Excel, answer the following time value of money problems in a...
Instructions: Using Financial Formulas in Excel, answer the following time value of money problems in a single Excel worksheet. You can round to the nearest dollar. You must turn in your answers in an Excel document. 1. 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? 2. What is the balance in an account at the end of 10 years if $6,500 is...
154. How much money must be invested in an account that pays 6% per year in-...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
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...
Pete Frost made a deposit into his savings account 3 years ago and earned interest at an annual rate of 8%. The deposit accumulated to $20,500. How much was initially deposited assuming that the interest was compounded (a) annually, (b) semiannually, and (c) quarterly? terly? Use Excel or a financial calculator for computation. Round your answer to nearest dollar. (a) Annually (b) Semiannually (c) Quarterly
You deposit $3,000 at the end of the year (k = 0) into an account that pays interest at a rate of 7% compounded annually. A year after your deposit, the savings account interest rate changes to 1 2% nominal interest compounded month y Five years after ur de o the savings account aga changes it interest rate this time e interest rate becomes 8% nominal interest compounded quarterly. Eight years after your deposit, the saving account changes its rate...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
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