How much should be deposited monthly in an account that generates 6% of annual compound interest to accumulate the 20% that it needs as soon (downpayment) of a car that will acquire in 2 years and whose sales price is $25.000?
a. $157.28
b.$257.50
c. $127.89
d. $474.34
How much should be deposited monthly in an account that generates 6% of annual compound interest...
1. Calculate the compound amount when S1500 is deposited in an account earning an annual interest rate of 5%, compounded monthly, for 18 months. 2, How much money should be invested in an account that earns 6% annual interest, com- pounded monthly, in order to have $15, 000 in 5 years? 3. How much interest is earned on a $2000 deposit for 2 years at a 0.12% monthly interest rate. compounded daily?
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1) If $4000 is deposited in a savings account that earns interest at an annual rate of 2.5% interest compounded continuously, what is the value of the account at the end of two years? 2) A trust fund for a 11-year-old child is being set up by a single payment so that at age 21 the child will receive $37,000. Find how much the payment is if an interest rate of 9% compounded semiannually is assumed. 3) A bank account...
How much interest is earned in 5 years on $8200 deposited in an account paying 6% interest, compounded semiannually?