Question

Lee
Holmes deposited $15,600 in a new savings account at 11% interest
compounded annually. At the beginning of 4 years, Lee deposited in
additional $40,600 at 11% interest compounded semiannually. At the
end of 6 years what is the balance in Lee’s account? (Do not round
intermediate calculations. Round your answer to the nearest
cent.)

Answer #1

Find the amount to which $300 will grow under each of these
conditions: 11% compounded annually for 9 years. Do not round
intermediate calculations. Round your answer to the nearest
cent.
$ 11% compounded semiannually for 9 years. Do not round
intermediate calculations. Round your answer to the nearest
cent.
$ 11% compounded quarterly for 9 years. Do not round
intermediate calculations. Round your answer to the nearest
cent.
$ 11% compounded monthly for 9 years. Do not round intermediate...

If
$30,000 is deposited in a savings account at the end of each year
and the account pays interest of 5% compounded annually, what will
be the balance of the account at the end of 10 years?

A sum of $25,000 is deposited into a savings account, which pays
8% interest
compounded semiannually. Equal annual withdrawals are to be made
from the account,
beginning 1 year from now and continuing forever. The maximum
amount that can be
withdrawn at the end of each year is approximately equal to
____________.
A) $2,250
B) $2,000
C) $2,300
D) $2,040

Twenty years ago, your grandfather deposited $500 in a savings
account earning 4% annually, with interest compounded on a
quarterly basis. What is that savings account worth today? What
would the savings account be worth if interest were compounded
monthly?

If
your P200 is deposited in a savings account at the beginning of
each 15 years and the account draws interest at 7% per year,
compounded annually, the value of the account at the end of 15
years will be most nearly

Find the least amount that could be deposited in a bank account
today at 10% compounded semiannually to allow $1875 withdrawals at
the end of each 6 months for 12 years. Round to the nearest
cent
A 26,426.14
B 25,872.45
C 49,127.55
D 25,291.07

Find the amount to which $800 will grow under each of these
conditions:
5% compounded annually for 6 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
$
5% compounded semiannually for 6 years. Do not round
intermediate calculations. Round your answer to the nearest
cent.
$
5% compounded quarterly for 6 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
$
5% compounded monthly for 6 years. Do not round intermediate...

A savings account pays interest at the rate os 5% per year,
compounded semi-annually. The amount that should be deposited now
so that R250 can be withdrawn at the end of every six months for
the next 10 years is

Find the amount to which $600 will grow under each of these
conditions:
6% compounded annually for 3 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
$
6% compounded semiannually for 3 years. Do not round
intermediate calculations. Round your answer to the nearest
cent.
$
6% compounded quarterly for 3 years. Do not round intermediate
calculations. Round your answer to the nearest cent.
$
6% compounded monthly for 3 years. Do not round intermediate...

Suppose a savings account earns 3% interest compounded monthly.
After the first month $100.00 is deposited into the account. Each
subsequent month the deposit increases by 1%. Thus, in month 2,
$101.00 is deposited, and in month 3, $102.01 is deposited. Find
the account balance after 2 years if initially there is $400 in the
account.

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