Question

Urn. U-Z iyrinanceLab Assignment Score: 0 of 4 pts P5-5 (similar to) 40f 12 (3 complete) mpounding (Related to Checkpoint 5.3) (Compound interest with non annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given depost period Amount Annual Compounding Account Holder Deposited interest Rate Periods Per Year (M) Periods (Years) Theodore Logan 11 $ 1.100 Vernel Coles 94 000 Tina Eliot 7,000 Wayne Robinson 120.000 Eric Caft 32 000 Key Craves 16.000 Round to the nearest ) a. The amount of money in Theodore Logan account at the end of years with Rodoncent The amount of money in Venlo cont at the end of years) will be $1200800

Answer 1

Attaching the final values and formulas used to obtain the answer :-

1,100.00 12% 12% $2,171.20 2 Theodore Logan III 3 4 Amount Deposited 5 Years 6 Compounding period per year 7 Total Number of Periods 8 Annual Interest Rate 9 Periodic Interest Rate 10 Future Value 11 12 Vernell Coles 13 14 Amount Deposited 15 Year 16 Compounding period per year 17 Total Number of Periods 18 Annual Interest Rate 19 Periodic Interest Rate 20 21 Future Value 94,000 10% 3.33% $126,267.57

1 2 Theodore Logan III 3 4 Amount Deposited 1100 5 Years 6 Compounding period per year 1 7 Total Number of Periods =B5*B6 8 Annual Interest Rate 0.12 9 Periodic Interest Rate =B8/B6 10 Future Value =FV(B9,B7,0,-84) 11 12 Vernell Coles 13 14 Amount Deposited 94000 15 Year 16 Compounding period per year 3 17 Total Number of Periods =B15*B16 18 Annual Interest Rate 0.1 19 Periodic Interest Rate =B18/B16 20 21 Future Value =FV(B19, B17,0,-B14)