Question

If ​$250 is invested at 7​% compounded ​(A) annually, ​ (B) quarterly, ​ (C) monthly, what...

If ​$250 is invested at 7​% compounded ​(A) annually, ​ (B) quarterly, ​ (C) monthly, what is the amount after 4 ​years? How much interest is​ earned?

Homework Answers

Answer #1

Write the formula for the compound interest and amount and substitute the given information to get the required solution

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
If $600is invested at 8% compounded quarterly,what is the amount after 5 years?How much interest is...
If $600is invested at 8% compounded quarterly,what is the amount after 5 years?How much interest is earned?
1. If 5,000 is invested at 4​% compounded quarterly, what is the amount after 10 years?...
1. If 5,000 is invested at 4​% compounded quarterly, what is the amount after 10 years? 2. How long will it take 5,000 to grow to 14,000 if it is invested at 7​% compounded​ monthly?
If $300 is invested at 6% compounded what is the amount after 5 years? how much...
If $300 is invested at 6% compounded what is the amount after 5 years? how much is earnd? If it is compounded annually what is the amount? If it is compounded quarterly what is the amount? If it is compounded monthly what is the amount?
Find the interest earned on $25000.00 invested for 6 years at 4.5% interest compounded as follows....
Find the interest earned on $25000.00 invested for 6 years at 4.5% interest compounded as follows. a. Annually -Compounding annually, the interest earned is b. Semiannually (twice a year) -Compounding semiannually, the interest earned is c. Quarterly -Compounding quarterly, the interest earned is d. Monthly- Compounding monthly, the interest earned is e. Continuously- . Compounded continuously, the interest earned is
An amount is invested at 8%, compounded quarterly, for 2 years. What rate and what number...
An amount is invested at 8%, compounded quarterly, for 2 years. What rate and what number of periods would be used to find a future value factor from the tables in order to calculate the future value of this investment? a)2% for 4 periods b) 8% for 2 periods c)2% for 8 periods d)8% for 4 periods An investment earning 12% interest compounded semi-annually, will accumulate to a greater amount in the future than an equal investment earning 12% compounded...
1. What nominal rate compounded annually would quadruple the principal in 4 years? 2. A master...
1. What nominal rate compounded annually would quadruple the principal in 4 years? 2. A master card compounds monthly and charges an interest of 1.5% per month. What is the effective interest rate per year? 3. How long will it take money to triple itself if invested at 8% compounded annually? 4. Microsoft CEO, billionaire Bill Gates willed that a sum of $25 million be given to a child but will be held in trust by the child’s mother until...
1. a) I invested $5,000 into an account earning 5% interest compounded monthly and left it...
1. a) I invested $5,000 into an account earning 5% interest compounded monthly and left it there for 5 years. After the 5 years were up I transferred the money from that account into a new account that earned 6% interest compounded quarterly for the next 10 years. How much total money would I have at the end of the 15 years? b) If I had left the $5,000 in the initial account earning 5% compounded monthly how long, to...
Ava invested $1750 into an RRSP that earned interest at 5% compounded semi-annually for eight years....
Ava invested $1750 into an RRSP that earned interest at 5% compounded semi-annually for eight years. a) Find the balance of the account at the end of the period. b) How much interest is earned? c) What is the effective rate of interest?
Some amount of principal is invested at a 7.4% annual rate, compounded monthly. The value of...
Some amount of principal is invested at a 7.4% annual rate, compounded monthly. The value of the investment after 7 years is $2185.76. Find the amount originally invested. Round to two decimal places AND Nathan invests $1000 into an account earning interest at an annual rate of 4.7%, compounded annually. 4 years later, he finds a better investment opportunity. At that time, he withdraws his money and then deposits it into an account earning interest at an annual rate of...
What is the future value of $100 invested at 10% compounded annually for 3 years? What...
What is the future value of $100 invested at 10% compounded annually for 3 years? What is the future value of $100 invested at 10% compounded annually for 10 years? What is the present value of an investment that will give you $100 after 10 years with a rate of 10% compounded annually? You end up with $20,000 after investing for 20 years at 8% annually. What was the PV? Maverick Jane places $800 in a savings account paying 6%...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT