Question

On August 1, 2017, Marina deposited $2500 into a savings account earning 2.5% per year.

Calculate:

(a) The amount of interest the deposit had earned after 160 days

(b) The amount of interest earned as of September 20/2017

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Answer #1

Suppose you deposited $4,000 in a savings account earning 2.0%
interest compounding daily. How long will it take for the balance
to grow to $11,000? Answer in years rounded to two decimal places.
(e.g., 2.4315 years --> 2.43)
If the applicable discount rate is 5.0%, what is the present
value of the following stream of cash flows? Round to the nearest
cent.
Cash Flow Year 1: $1,000
Cash Flow Year 2: $5,000
Cash Flow Year 3: $6,000
You plan to...

1. You originally opened a savings account with a $4,000
deposit. Today the account has a balance of $10,000. 7 years have
passed since you opened the account. What rate of interest have you
earned assuming the account has compounded annually?
2.You just deposited $5,000 into an account. If you allow the
money to grow for 9 years, what will be your ending account
balance? Assume the account has earned 8% compounded quarterly.
3.You originally opened a savings account with...

A person initially deposits $500 in a savings account that pays
interest that pays interest at a rate of 4% per year compounded
continuously. Suppose the person arranges for $10 per week to be
deposited automatically into the savings account.
a) Write a differential equation for P(t), the amount on deposit
after t years and solve.
b) Find the amount on deposit after 5 years.
Hint: dP/dt = 0.04P + 520.

12-7. Lucy Lane maintains a savings deposit
with Monarch Credit Union. This past year Lucy received $10.75 in
interest earnings from her savings account. Her savings deposit had
the following average balance each month: (Show Steps to receive
answer. )
January
$450
July
$450
February
350
August
425
March
300
September
550
April
550
October
600
May
225
November
625
June
400
December
500
What was the annual percentage yield (APY) earned on Lucy’s
savings account?

A bank pays 10% per annum on savings accounts. Interest is
credited quarterly on March 31, June 30, September 30, and December
31, bassed on the minimum quarterly balance. If a person opens an
account with a deposit of 200$ on January 1 and withdraws 100$ on
August 8, how much interest is earned in the first year? Ans;
15.70.

Heather deposited $1,700 at her local credit union in a savings
account at the rate of 9.8% paid as simple interest. She will earn
interest once a year for the next 13 years. If she were to make no
additional deposits or withdrawals, how much money would the credit
union owe Heather in 13 years?
$3,865.80
$1,882.93
$266.60
$5,731.65
Now, assume that Heather’s credit union pays a compound interest
rate of 9.8% compounded annually. All other things being equal, how...

1. Suppose you
deposited $13,000 in a savings account earning 2.7% interest
compounding daily. How long will it take for the balance to grow to
$26,000? Answer in years rounded to one decimal place.
2. What is the Profitability Index of a project that costs
$43,000 today and is expected to generate annual cash inflows of
$5,000 for the following 10 years. Assume the company's WACC is 8%.
Round to two decimal places.
3. What is the price of a...

. I saved $3,500 per six month period for seven years into my
savings account earning 2% compounded annually. After the seven
years, I stopped making contributions, but left the money in the
bank for another five years, at 2.4% compounded annually.
How much do I have in my account at the end of this twelve year
period?
b) How much interest
did I earn over the 12 year period?
Calculate using ba 2 plus calculator

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

1/ You deposit $3000 at the beginning of each year into an
account earning 5% interest compounded annually. How much will you
have in the account in 20 years?
2/Suppose you want to have $400,000 for retirement. Your account
earns 7% interest compounded monthly. If you deposit $200 at the
end of each month, how long will it take you to reach your goal?
Round to the nearest year.

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