Question

Suppose you have $1600 deposited at 2.75% compounded quarterly. About long will it take your balance to increase to $3300?

Answer #1

If you deposit $1000 at a rate of 7.5% compounded quarterly, how
long will it take for your money to double?

You have deposited $10,000 in a bank earning interest at 7% p.a.
compounded quarterly for four years and five months. At that time,
the interest rate changes to 6% p.a. compounded monthly. What is
the value of the deposit three years after the change in the rate
of interest?
What nominal annual rate compounded quarterly is equivalent to
7.5% p.a. compounded monthly?
You have decided to deposit $500 in the Montreal bank at the end
of each quarter for seven...

Suppose $40,000 is
deposited into an account that pays 6.5% compounded quarterly and
is left there for 20 years. How much money will be in this
account?
--> Round to the
nearest one dollar. (No cents.) <

You have deposited $10,000 in a bank earning interest at 7% p.a.
compounded quarterly for four years and five months. At that time,
the interest rate changes to 6% p.a. compounded monthly. What is
the value of the deposit three years after the change in the rate
of interest?

How long will it take for money to tripe at a rate of 4.5%
compounded quarterly?

$2000 is deposited with an annual interest of 2% compounded
continuously.
(a) Find the balance of the account in 5 years
(b) How long will it take for the money to become 3 times at
this rate?

You have deposited $40,000 in account for 10 years at 5.5%
compounded monthly. What would be your balance after 10 years?

How
long will it take (in years) to earn $75,000 in interest if
$100,000 is deposited at a 5% continuous compounded rate? If you
require $125,000 in five years time, did you deposit enough
money?

Suppose you deposited $4,000 in a savings account earning 2.1%
interest compounding daily. How long will it take for the balance
to grow to $11,000? Answer in years rounded to two decimal
places.

show all work please
Suppose you have decided to start saving money to take a
long-awaited family vacation in Northern Brazil, which you want to
take 5 years from today. You estimate the amount you will have to
pay at that time will be $10,000. The savings account you
established for your trip offers 5% per annum interest compounded
quarterly. How much will you have to deposit each year if your
first deposit is made 1 year from today and...

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