Future value = Present value(1+Interest Rate)^number of periods
Hence, amount after 8 years i.e. 8*12 = 96 months = 4,000(1+0.46%)^96
= $6,214.4783
i.e. $6,214.48
You are going to deposit $4,000 in an account that pays .46 percent interest compounded monthly . How much will you hav...
You are going to deposit $4,200 in an account that pays .48 percent monthly interest. How much will you have in 5 years? Note : The given interest rate (.48 percent) is monthly interest rate, not the usual given annual interest rate compounded monthly. Multiple Choice $5,624.79 $5,571.18 $5,557.21 $5,597.92 $5,603.52
You are going to deposit $3,000 in an account that pays .36 percent interest compounded monthly. How much will you have in 6 years?
You are going to deposit $3,900 in an account that pays.45 percent interest compounded monthly. How much will you have in 6 years?
You are going to deposit $3,600 in an account that pays 42 percent interest compounded monthly. How much will you have in 8 years? O $5,33507 O $5,383 23 O $5,388 62 O $5,36072 O $5,405 84 Graw- T o All ved
1. You are going to deposit $3,400 in an account that pays .40 percent interest compounded monthly. How much will you have in 5 years? a. $4,320.18 b. $4,337.46 c. $4,298.19 d. $4,324.50 e. $4,302.97 2. Your bank will pay you an interest rate of .102 percent per week. You want to have $22,500 in 10 years. How much will you have to deposit today? Assume 52 weeks per year. a. $13,418.45 b. $13,419.42 c. $13,536.16 d. $21,338.27 e. $13,241.89...
MC algo 4-8 Calculating Future Values You are going to deposit $3,300 in an account that pays.39 percent interest compounded monthly. How much will you have in 9 years? Multiple Choice Ο $5,043.98 Ο $4,980.67 Ο $5,029.41 Ο Ο $5.02439 Ο Ο S5,004.87
QUESTION 10 You are going to deposit $2500 in an account that pays 0.51 percent interest compounded quarterly. How much will you have in 5 years? $2781.86 $2770.82 $2753.70 $2765.62 $2767.74
You are going to deposit $4,300 in an account that pays.69 percent interest per quarter. How much will you have in 6 years? You need to have $35,000 for a down payment on a house 4 in years. If you can earn an annual interest rate of 4.9 percent, how much will you have to deposit today?
You deposit $2000 in an account earning 8% interest compounded monthly. How much will you have in the account in 5 years?
Chapter 6 Saved Help Save & Exit You are going to deposit $2,700 in an account that pays 33 percent interest compounded monthly. How much will you have in 7 years? Multiple Choice O $3.560.84 O s237259 O $3554 40 53.5490 < Prev 4 of 30 baxt >