Question

Calculate the amount of money that will be in each of the following accounts at the end of the given deposit​ period:

Account Holder		Amount Deposited			Annual Interest Rate		Compounding Periods Per Year​ (M)		Compounding Periods​ (Years)
Theodore Logan III		​$	1,000		16	​%	12		6
Vernell Coles			96,000		12		1		2
Tina Elliot			8,000		8		4		5
Wayne Robinson			118,000		10		3		5
Eunice Chung			32,000		18		2		4
Kelly Cravens			13,000		8		6		4

a.The amount of money in Theodore Logan​ III's account at the end of 6 years will be ​$_____. ​(Round to the nearest​ cent.)

b. The amount of money in Vernell Coles account at the end of 2 years will be $_____. (Round to the nearest cent.)

c. The amount of money in Tina Elliot account at the end of 5 years will be $_____. (Round to the nearest cent.)

d. The amount of money in Wayne Robinsons account at the end of 5 years will be $_____. (Round to the nearest cent.)

e. The amount of money in Eunice Chung account at the end of 4 years will be $_____. (Round to the nearest cent.)

f. The amount of money in Kelly Cravens account at the end of 4 years will be $_____. (Round to the nearest cent.)

Answer 1