Question:Question
A man deposits $ 29,700 into a bank, which pays 4% interest
that is compounded...
Question
Question
A man deposits $ 29,700 into a bank, which pays 4% interest
that is compounded...
Question
A man deposits $ 29,700 into a bank, which pays 4% interest
that is compounded semiannually. What will he have in his account
at the end of three years?
The owner of a small factory thinks that he will need $ 71,800
for new equipment in 10 years. He decides that he will put aside
the money now so that after 10 years the $ 71,800 will be
available. His bank offers him 8% interest compounded semiannually.
What is the present value of the $ 71,800?
A person deposited $ 25,000 at a bank at an interest rate of
12% compounded quarterly. Find the effective rate (APY). Write your
answer in percentage rounded to the nearest
hundredth.