Question

Lydia's aunt Rose left her $5,000. Lydia spent $1,000 on her wardrobe and deposited the rest in an account that pays 6.9% compounded daily. How much money will she have in 5 years?

Answer #1

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.) <

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.
a) I invested $5,000 into an account earning 5% interest
compounded monthly and left it there for 5 years. After the 5 years
were up I transferred the money from that account into a new
account that earned 6% interest compounded quarterly for the next
10 years. How much total money would I have at the end of the 15
years?
b) If I had left the $5,000 in the initial account
earning 5% compounded monthly how long, to...

Ten years ago, when Jen was born, her parents opened up a
savings account and deposited $10,000 immediately. They planned for
her to use all the money deposited in that account over the years
towards her college education when she turns 18. Afterwards, they
made additional deposits of $5,000 per year. However, due to some
unforeseen circumstances, they will withdraw $8,000 from the
account this year and will not contribute anything next year.
However, they plan to deposit $7,000 per...

1. Tom opens an account with $500. He plans on saving $75 each
month. The account pays 2.3% compounded monthly. Create a table
showing how much interest he will earn each month and his monthly
balance for the first 5 months his account is open. Do this by hand
with just the functions of a scientific calculator. Do not use the
website.
2. Lydia saved $1,345,000 for retirement. The money is deposited
in an account earning 3.2% compounded monthly. She...

16) Stephen's grandmother deposited $100 in an investment
account for him when he was born, 25 years ago. The account is now
worth $1,500. What was the average rate of return on the
account?
17)The present value of $400 to be received at the end of 10
years, if the discount rate is 5%, is __
18)The present value of $1,000 to be received at the end of five
years, if the discount rate is 10%, is __
19)What is...

1. You have just turned 23 years old. Your aunt gave you $ 1,000
for your birthday. You will use the money to open a bank account.
The account has a quarterly return of 12 percent. How much do you
expect to have in the account on your 65th birthday? explain
process Step by Step?

Olivia wants to have $5000 to upgrade her VW bus in 2 years.
How much must she deposit now in a savings account that pays 18
percent compounded monthly to have the money she needs in 2
years?

You
have deposited $1,000 with an interest rate of 3% every 6 months
where the interest is computed every 6 months How much you will
have after 5 years?
Two years later after the initial deposit of the money, you
deposited additional $1,000 with an interest rate of 2% every 6
months (applies only to this deposit). How much will you have after
5 years?

Maryann is planning a wedding anniversary gift of a trip to
Hawaii for her husband at the end of 5 years. She will have enough
to pay for the trip if she invests $5,000 per year until that
anniversary and plans to make her first $5,000 investment on their
first anniversary. Assume her investment earns a 4 percent interest
rate, how much will she have saved for their trip if the interest
is compounded in each of the following ways?...

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