a bank is paying 7.5% APR on a CD. if you put $2,194 into an account...
5) Archaic Bank only offers Simple Interest Accounts at 2%. If you opened an account with $1000, how much would be in your account after 5 years? 6) You open an account at another bank paying compound interest. If you put $1000 in the account and the interest rate is 2%, how much will you have after 5 years if the money is a) Compounded annually b) Compounded quarterly 7) You found an old baseball card that increasing in value...
If you put $5,790.42 into your 401(K) account that earns 7.5% interest annually, how much will be in your account after 45 years?
Your aunt is planning to invest in a bank CD that will pay 7.5 percent interest semiannually. If she has $12,000 to invest, how much will she have at the end of four years? (Round your answer to the nearest penny.)
Suppose that you invest $400 in a bank account that has APR of 6% and it is compounded monthly (12 times a year) If we use the formula F=P*(1 + r), What is the value for "r"? Round all money answers to the nearest cent. If you invest $400 in this account, how much money will you have after 1 month? How much money will you have in your account after 1 year? What is the amount of interest we...
You can invest in a bank account that has an APR of 8%. You want to make equal deposits every semester (six months) of $500 for the next 5 years. How much will you have accumulated at the end of the 5 years? A. $14, 889.04 B. 6,003.05 C. $7,243.28 D, $6,795.16
You deposit $9,821 in a CD with First Bank of Terlingua. The bank promises a fixed APR of 6.189% per year with monthly compounding. The CD has a life of 8 years. The interest is paid at the end of each month. Underlying assumptions: You leave the principal and interest in the account for the life of the CD rather than withdrawing it. • The bank stays solvent for this period (and thus can keep its promise to pay you)....
5/ If you put $500 in the bank every month, and earn 2.5% interest, and inflation is an average of 2%, how much will you have in the bank in 10 years, and how much is it worth in today's money (4 marks)?
Sunshine Bank & Trust is offering a CD that pays 7.5% compounded continuously. How much interest would a $3,000 deposit earn over 5 years? (Round your answer to the nearest dollar.) Selct one: a. $4,365 b. $1,365 c. $4,125 d. $1,125
Straight bank loan. Left Bank has a standing rate of 7.5% (APR) for all bank loans and requires monthly payments. What is the monthly payment if a loan is for (a) $100,000 for 4 years, (b) $295,000 for 8 years, or (c) $1,500,000 for 23 years? What is the effective annual rate of each of these loans? (a) What is the monthly payment if a loan is for $100,000 for 4 years? $ (Round to the nearest cent.)
2) A bank is offering 12 percent compounded quarterly. If you put $100 in an account, how much will you have at the end of one year? What’s the EAR? How much will you have at the end of two years?