Question

$300 is deposited in an account which earns 4% compounded
quarterly for 6.75 years.

(a) State the value of the account at the end of the 6.75
years.

$

(b) State the total amount of interest earned on the account during
the 6.75 years.

$

Answer #1

On your birthday, when you turned 24, $25400 was deposited in an
account which earns 10.5% compounded annually.
a. How much can you withdraw annually for 11 years if
the first withdrawal is made on the day you become 49?
b. State the total amount of interest earned on this
account.

On your birthday, when you turned 20, $12100 was deposited in an
account which earns 10.5% compounded annually. a. How much can you
withdraw annually for 16 years if the first withdrawal is made on
the day you become 45? $ b. State the total amount of interest
earned on this account. $

$10,000 is deposited into a savings account that earns 3% per
annum compounded quarterly.
(a) How much interest will be credited in the second month?
(b) How much interest will be credited in the second year?

A person deposits $17000 in an account which earns 6% compounded
quarterly. At the end of 4 years the person withdraws $4250, and at
the end of 7 years they withdraw $5950. How much can be withdrawn
at the end of 9 years in order to deplete the account?

If $3500 is deposited at the end of each quarter in an account
that earns 4% compounded quarterly, after how many quarters will
the account contain $80,000? (Round your answer UP to the nearest
quarter.)

A person deposits $45 at the end of each month in an account
which earns 12.5% compounded monthly for 29 years. The person then
stops making the deposits, but allows the money to remain in the
bank earning the same interest for 15 more years.
a. Find the value of this account at the end of 44 years.
$
b. State the total amount of interest earned on this account.

A person deposits $275 at the end of each month in an account
which earns 9.5% compounded monthly for 29 years. The person then
stops making the deposits, but allows the money to remain in the
bank earning the same interest for 6 more years.
a. Find the value of this account at the end of 35 years.
$
b. State the total amount of interest earned on this account.
$

For 8 years, $97 is deposited each week into an account that
earns 2.1% interest, compounded weekly (52 times a year). The
account currently has $300 in it. How much will be in the account
after 8 years? Round your answer to two decimal places if rounding
is necessary. There is a $ sign next to the answer box, so do not
type a $ sign in your answer

If $8000 is deposited at the end of each half year in an account
that earns 6.7% compounded semiannually, how long will it be before
the account contains $130,000? (Round your answer to one decimal
place.)
Find the future value of an annuity due of $900 each quarter for
8 1/2 years at 11%, compounded quarterly
.

$3,500 is deposited at the end of each quarter in an account
that earns 6% compounded quarterly until $100,000 has accumulated
in the account.
This scenario describes the ---Select--- Future Value
of an Annuity Due Future Value of an Ordinary Annuity . From the
formula in the textbook, all values are known, except
for ? R S i n .
After how many quarters will the account contain $100,000?
(Round your answer UP to the nearest quarter.)

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