Question

Derek can deposit $206.00 per month for the next 10 years into an account at Bank A. The first deposit will be made next month. Bank A pays 14.00% and compounds interest monthly. Derek can deposit $2,431.00 per year for the next 10 years into an account at Bank B. The first deposit will be made next year. Bank B compounds interest annually. What rate must Bank B pay for Derek to have the same amount in both accounts after 10 years?

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Derek can deposit $237.00 per month for the next 10 years into
an account at Bank A. The first deposit will be made next month.
Bank A pays 14.00% and compounds interest monthly. Derek can
deposit $2,417.00 per year for the next 10 years into an account at
Bank B. The first deposit will be made next year. Bank B compounds
interest annually. What rate must Bank B pay for Derek to have the
same amount in both accounts after...

Derek can deposit $258.00 per month for the next 10 years into
an account at Bank A. The first deposit will be made next month.
Bank A pays 13.00% and compounds interest monthly. Derek can
deposit $2,478.00 per year for the next 10 years into an account at
Bank B. The first deposit will be made next year. Bank B compounds
interest annually. What rate must Bank B pay for Derek to have the
same amount in both accounts after...

Derek can deposit $216.00 per month for the next 10 years into
an account at Bank A. The first deposit will be made next month.
Bank A pays 12.00% and compounds interest monthly. Derek can
deposit $2,432.00 per year for the next 10 years into an account at
Bank B. The first deposit will be made next year. Bank B compounds
interest annually. What rate must Bank B pay for Derek to have the
same amount in both accounts after...

Derek can deposit $267.00 per month for the next 10 years into
an account at Bank A. The first deposit will be made next month.
Bank A pays 12.00% and compounds interest monthly. Derek can
deposit $2,534.00 per year for the next 10 years into an account at
Bank B. The first deposit will be made next year. Bank B compounds
interest annually. What rate must Bank B pay for Derek to have the
same amount in both accounts after...

Derek can deposit $297.00 per month for the next 10 years into
an account at Bank A. The first deposit will be made next month.
Bank A pays 13.00% and compounds interest monthly. Derek can
deposit $2,551.00 per year for the next 10 years into an account at
Bank B. The first deposit will be made next year. Bank B compounds
interest annually. What rate must Bank B pay for Derek to have the
same amount in both accounts after...

1. Derek currently has $12,393.00 in an account that pays 6.00%.
He will withdraw $5,548.00 every other year beginning next year
until he has taken 5.00 withdrawals. He will deposit $12393.0 every
other year beginning two years from today until he has made 5.0
deposits. How much will be in the account 26.00 years from
today?
2. Derek can deposit $258.00 per month for the next 10 years
into an account at Bank A. The first deposit will be made...

Derek currently has $11,714.00 in an account that pays 5.00%. He
will withdraw $5,458.00 every other year beginning next year until
he has taken 4.00 withdrawals. He will deposit $11714.0 every other
year beginning two years from today until he has made 4.0 deposits.
How much will be in the account 22.00 years from today?
Answer format: Currency: Round to: 2
decimal places.
Derek can deposit $294.00 per month for the next 10 years into
an account at Bank A....

1. Derek currently has $11,028.00 in an account that pays 6.00%.
He will withdraw $5,835.00 every other year beginning next year
until he has taken 7.00 withdrawals. He will deposit $11028.0 every
other year beginning two years from today until he has made 7.0
deposits. How much will be in the account 26.00 years from
today?
Answer format: Currency: Round to: 2
decimal places.
2. Derek can deposit $293.00 per month for the next 10 years
into an account at...

Derek will deposit $4,641.00 per year for 28.00 years into an
account that earns 14.00%. The first deposit is made next year. How
much will be in the account 28.0 years from today?
Answer format: Currency: Round to: 2
decimal places.

1.Derek will deposit $3,788.00 per year for 14.00 years into an
account that earns 12.00%. Assuming the first deposit is made 6.00
years from today, how much will be in the account 33.00 years from
today?
2.Derek will deposit $6,480.00 per year for 11.00 years into an
account that earns 8.00%, The first deposit is made next year. He
has $12,685.00 in his account today. How much will be in the
account 43.00 years from today?

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