A family that won a $100,000 (P) prize on America’s Funniest Home Videos decided. If the fund earned interest at 6% per...
A family that won a $100,000 (P) prize on America’s Funniest Home Videos decided. If the fund earned interest at 6% per year, how much was in the account(F) 14 years after it was started?
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A family that won a $100,000 (P) prize on America’s Funniest Home Videos decided. If the fund earned interest at 6% per...
QUESTION 7 You have won the grand prize in a contest! The prize is $25,000 per...
QUESTION 7 You have won the grand prize in a contest! The prize is $25,000 per year paid each year for 10 years. How much would your receive if you choose instead to receive a cash payout now if the interest rate is 4%? $ 168,900 $ 300,152.50 O$ 250,000 $ 202,772.50
A corporation creates a sinking fund in order to have $670,000 to replace some machinery in...
A corporation creates a sinking fund in order to have $670,000
to replace some machinery in 8 years. How much should be placed in
this account at the end of each month if the annual interest rate
is 6.5% compounded monthly? (Round your answers to the nearest
cent.)
$
How much interest would they earn over the life of the
account?
$
Determine the value of the fund after 2, 4, and 6 years.
2 years
$
4 years
$...
Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account earned interest at th...
Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account earned interest at the rate of 10% per year. Assuming the end-of-the-year convention, what is the amount of equal annual withdrawals that can be made to ompletely deplete the fund 15 years from now if the first withdrawal will be made one year from today? B I * Fr
5. + 6.25/6 points Previous Answers TEAFM2 F.3.026. A corporation creates a sinking fund in order...
5. + 6.25/6 points Previous Answers TEAFM2 F.3.026. A corporation creates a sinking fund in order to have $350,000 to replace some machinery in 9 years. How much should be placed in this account at the end of each month if the annual interest rate is 3.5% compounded monthly? (Round your answers to the nearest cent.) $ 2761.76 How much interest would they earn over the life of the account? $ 51729.92 Determine the value of the fund after 2,...
Yesterday you won $340,000 and decided to invest your money at 9.15% per year (compounded annually)....
Yesterday you won $340,000 and decided to invest your money at 9.15% per year (compounded annually). How much money could you withdraw at the end of the next 14 years? A. $39,654.39 B. $43,685.53 C. $44,036.48 D. $46,556.22 E. $44,001.93
6. Suppose a family is depositing money into a bank account continuously at the rate of...
6. Suppose a family is depositing money into a bank account continuously at the rate of about $10,000 per year, and the account earns interest of 4% annually (compounded continuously). The family began their first year with $23,000 in the account. Assuming they don't make any withdrawals, how much money is in the account after 4 years? Derive the equation to be used
6. Suppose a family is depositing money into a bank account continuously at the rate of about...
You decide to contribute to a mutual fund that averages 5.6% return per year. If you...
You decide to contribute to a mutual fund that averages 5.6% return per year. If you contribute $600 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 15 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $
Compare the interest earned by $14,000 for three years at 6% simple interest with interest earned...
Compare the interest earned by $14,000 for three years at 6% simple interest with interest earned by the same amount for three years at 6% compounded annually Why does a difference occur? Click the icon to view the interest and annuity table for discrete compounding when = 6% per year The simple interest eamed is _ (Round to the nearest dollar.) The compound interest sarned is S . (Round to the nearest dollar.) There is a difference in the amount...
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...
Suppose you invest $1,000 in an account paying 6% interest per year. a. What is the...
Suppose you invest $1,000 in an account paying 6% interest per year. a. What is the balance in the account after 3 years? How much of this balance corresponds to "interest on interest"? b. What is the balance in the account after 25 years? How much of this balance corresponds to "interest on interest"? a. What is the balance in the account after 3 years? The balance in the account after 3 years is SE (Round to the nearest cent)
QUESTION 7 You have won the grand prize in a contest! The prize is $25,000 per year paid each year for 10 years. How much would your receive if you choose instead to receive a cash payout now if the interest rate is 4%? $ 168,900 $ 300,152.50 O$ 250,000 $ 202,772.50
A corporation creates a sinking fund in order to have $670,000
to replace some machinery in 8 years. How much should be placed in
this account at the end of each month if the annual interest rate
is 6.5% compounded monthly? (Round your answers to the nearest
cent.)
$
How much interest would they earn over the life of the
account?
$
Determine the value of the fund after 2, 4, and 6 years.
2 years
$
4 years
$...
Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account earned interest at the rate of 10% per year. Assuming the end-of-the-year convention, what is the amount of equal annual withdrawals that can be made to ompletely deplete the fund 15 years from now if the first withdrawal will be made one year from today? B I * Fr
5. + 6.25/6 points Previous Answers TEAFM2 F.3.026. A corporation creates a sinking fund in order to have $350,000 to replace some machinery in 9 years. How much should be placed in this account at the end of each month if the annual interest rate is 3.5% compounded monthly? (Round your answers to the nearest cent.) $ 2761.76 How much interest would they earn over the life of the account? $ 51729.92 Determine the value of the fund after 2,...
6. Suppose a family is depositing money into a bank account continuously at the rate of about $10,000 per year, and the account earns interest of 4% annually (compounded continuously). The family began their first year with $23,000 in the account. Assuming they don't make any withdrawals, how much money is in the account after 4 years? Derive the equation to be used
6. Suppose a family is depositing money into a bank account continuously at the rate of about...
You decide to contribute to a mutual fund that averages 5.6% return per year. If you contribute $600 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 15 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $
Compare the interest earned by $14,000 for three years at 6% simple interest with interest earned by the same amount for three years at 6% compounded annually Why does a difference occur? Click the icon to view the interest and annuity table for discrete compounding when = 6% per year The simple interest eamed is _ (Round to the nearest dollar.) The compound interest sarned is S . (Round to the nearest dollar.) There is a difference in the amount...
Suppose you invest $1,000 in an account paying 6% interest per year. a. What is the balance in the account after 3 years? How much of this balance corresponds to "interest on interest"? b. What is the balance in the account after 25 years? How much of this balance corresponds to "interest on interest"? a. What is the balance in the account after 3 years? The balance in the account after 3 years is SE (Round to the nearest cent)
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