Rick deposited $3,050 into an account 9 years ago for an emergency fund. Today, that account is worth $3,950. What annua...
Rick deposited $3,050 into an account 9 years ago for an emergency fund. Today, that account is worth $3,950. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?
Homework Answers
Solution :-
Thus, Rick earned annual rate
of return of 2.9147%.
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Rick deposited $3,050 into an account 9 years ago for an emergency fund. Today, that account is worth $3,950. What annua...
Rick deposited $3,000 into an account 12 years ago for an emergency fund. Today, that account...
Rick deposited $3,000 into an account 12 years ago for an emergency fund. Today, that account is worth $4,460. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?
Rick deposited $2,850 into an account 7 years ago for an emergency fund Rick deposited $2,850...
Rick deposited $2,850 into an account 7 years ago for an
emergency fund
Rick deposited $2,850 into an account 7 years ago for an emergency fund. Today, that account is worth $4,160. What annual rate of return did Rick eam on this account assuming no other deposits and no withdrawals? Multiple Choice o 5.18 percent o 5.55 percent o 4.15 percent o 533 percent
Answer the question. $100,000 was deposited in a savings account 8 years ago, and the account...
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 completely deplete the fund 15 years from now if the first withdrawal will be made one year from today?
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
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account...
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is $62,625. How long ago did she make the initial deposit if the annual interest rate on the account is 5 percent? Multiple Choice 29.51 years 0 29.72 years 29.72 years 30.13 years 30.00 years 29.67 years
When your father was born 43 years ago, his grandparents deposited $500 in an account for...
When your father was born 43 years ago, his grandparents deposited $500 in an account for him. Today, that account is worth $38,500. What was the annual rate of return on this account?
Georgia deposited money in her retirement account 11 years ago. Today her account has $8600 in...
Georgia deposited money in her retirement account 11 years ago. Today her account has $8600 in it. Assuming a 4% interest rate. how much did Georgia deposit 11 years ago? (Round your answer to the nearest dollar)
need 22,23,&24 please Question 22 1 pts 9 years ago you deposited 1,861 into an account....
need 22,23,&24 please
Question 22 1 pts 9 years ago you deposited 1,861 into an account. Today that account has a balance of 15,771. If the account offers quarterly compounding, what rate of return did you earn? (enter your response as a percentage with 2 decimal places.ex: 12.34 instead of 0.1234) Question 23 1 pts 12th National bank offers an account paying 11.5% interest compounded 7 times per year. What is the effective interest rate paid by this account? (Enter...
When your father was born 45 years ago, his grandparents deposited $450 in an account for...
When your father was born 45 years ago, his grandparents deposited $450 in an account for him. Today, that account is worth $39,000. What was the annual rate of return on this account? 7.78 percent 10.01 percent 10.42 percent 11.47 percent 9.73 percent
an account has been established 4 years ago with an initial deposit. today the account is...
an account has been established 4 years ago with an initial deposit. today the account is credited with annual interest of 291. the interest rate is 7.6 compounded annually. no other deposits or withdrawals have been made. how much is the end of the day balance
Rick deposited $2,850 into an account 7 years ago for an
emergency fund
Rick deposited $2,850 into an account 7 years ago for an emergency fund. Today, that account is worth $4,160. What annual rate of return did Rick eam on this account assuming no other deposits and no withdrawals? Multiple Choice o 5.18 percent o 5.55 percent o 4.15 percent o 533 percent
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 completely deplete the fund 15 years from now if the first withdrawal will be made one year from today?
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
Many years ago, Julie deposited $14,490 into a savings account. Today, the balance of the account is $62,625. How long ago did she make the initial deposit if the annual interest rate on the account is 5 percent? Multiple Choice 29.51 years 0 29.72 years 29.72 years 30.13 years 30.00 years 29.67 years
need 22,23,&24 please
Question 22 1 pts 9 years ago you deposited 1,861 into an account. Today that account has a balance of 15,771. If the account offers quarterly compounding, what rate of return did you earn? (enter your response as a percentage with 2 decimal places.ex: 12.34 instead of 0.1234) Question 23 1 pts 12th National bank offers an account paying 11.5% interest compounded 7 times per year. What is the effective interest rate paid by this account? (Enter...
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