Bubba makes annual deposits of 1950 dollars into an account, with the first coming on August 1, 1...
Bubba makes annual deposits of 1950 dollars into an account, with the first coming on August 1, 1980, and the last on August 1, 1988. On August 1, 1990, he makes a deposit of 3200 dollars, and continues to do so once each year until making a final deposit on August 1, 2000. If the account pays an effective rate of interest of 9.3 percent, how much is in the account on August 1, 2005?
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Bubba makes annual deposits of 1950 dollars into an account, with the first coming on August 1, 1...
Hannibal opens a savings account on January 1, 1984 with a deposit of 330 dollars, and...
Hannibal opens a savings account on January 1, 1984 with a
deposit of 330 dollars, and continues to make deposits of the same
amount at the beginning of each month until January 1, 1990, when
he makes the final deposit. If the account pays a nominal rate of
interest of 4.7 percent convertible monthly, how much is in the
account on January 1, 1998?
(1 point) Hannibal opens a savings account on January 1, 1984 with a deposit of 330...
(1 point) Hannibal opens a savings account on January 1, 1984 with a deposit of 330...
(1 point) Hannibal opens a savings account on January 1, 1984 with a deposit of 330 dollars, and continues to make deposits of the same amount at the beginning of each month until January 1, 1990, when he makes the final deposit. If the account pays a nominal rate of interest of 5.9 percent convertible monthly, how much is in the account on January 1, 1998?
Janelle makes monthly deposits of 90 dollars into an account that pays an effective rate of...
Janelle makes monthly deposits of 90 dollars into an account that pays an effective rate of interest of 6 percent. How much will she have in the account immediately after the 24th deposit? (Hint: What is the formula for an annuity?)
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 If the money is withdrawn
five years after the last deposit, how much money is withdrawn?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...
David makes a sequence of 34 monthly deposits of 530 dollars each into an account paying interest...
David makes a sequence of 34 monthly deposits of 530 dollars each into an account paying interest convertible monthly. Immediately after making the 34th deposit, the account balance is 19741.55 dollars. What is the nominal rate of interest convertible monthly?
Cicely invests 3600 dollars in an account paying an effective rate of interest of 6.4 percent. Two years later, she deposits an additional 1950 dollars. If there are no other transactions, how long w...
Cicely invests 3600 dollars in an account paying an effective
rate of interest of 6.4 percent. Two years later, she deposits an
additional 1950 dollars. If there are no other transactions, how
long will it take (from the time of the first investment) for her
account balance to reach 8400 dollars? (Assume simple interest
between compoundings.)
Answer = years and days.
(Note: your answer for the number of years should be a whole
number, while your answer for the number...
(1 pt) Rhonda deposits dollars in an account paying 8.2 percent effective, and at the same time...
(1 pt) Rhonda deposits dollars in an account paying 8.2 percent effective, and at the same time also deposits dollars in another account paying 9.2 percent effective. After 9 years have passed, the combined total in the two accounts is 58000 dollars. In another 2 years, the balance in the account paying 9.2 percent effective is three times that of the other account. What is the balance in the account paying 8.2 percent effective 14 years after the initial deposit? Answer = dollars....
4. pt. 1. If a company begins making six annual deposits of $2,000 into an account...
4. pt. 1. If a company begins making six annual deposits of $2,000 into an account earning 8% starting one year from today, what will be the balance in the account when the last deposit is made at the end of the sixth year? pt 2. If a company begins making six annual deposits of $2,000 into an account earning 8% on June 30 of every year starting on June 30, 2017, what will be the balance in the account...
Irene plans to retire on January 1, 2020. She has been preparing to retire by making...
Irene plans to retire on January 1, 2020. She has been preparing to retire by making annual deposits, starting on January 1, 1980, of 2400 dollars into an account that pays an effective rate of interest of 8.3 percent. She has continued this practice every year through January 1, 2001. Her goal is to have 1.4 million dollars saved up at the time of her retirement. How large should her annual deposits be (from January 1, 2002 until January 1,...
Irene plans to retire on January 1, 2020. She has been preparing to retire by making...
Irene plans to retire on January 1, 2020. She has been preparing to retire by making annual deposits, starting on January 1, 1980, of 2450 dollars into an account that pays an effective rate of interest of 7.5 percent. She has continued this practice every year through January 1, 2001. Her goal is to have 1.25 million dollars saved up at the time of her retirement. How large should her annual deposits be (from January 1, 2002 until January 1,...
Hannibal opens a savings account on January 1, 1984 with a
deposit of 330 dollars, and continues to make deposits of the same
amount at the beginning of each month until January 1, 1990, when
he makes the final deposit. If the account pays a nominal rate of
interest of 4.7 percent convertible monthly, how much is in the
account on January 1, 1998?
(1 point) Hannibal opens a savings account on January 1, 1984 with a deposit of 330...
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...
Cicely invests 3600 dollars in an account paying an effective
rate of interest of 6.4 percent. Two years later, she deposits an
additional 1950 dollars. If there are no other transactions, how
long will it take (from the time of the first investment) for her
account balance to reach 8400 dollars? (Assume simple interest
between compoundings.)
Answer = years and days.
(Note: your answer for the number of years should be a whole
number, while your answer for the number...
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