Question

13. You deposit $100 at the end of each quarter in an account that pays 6%...

13. You deposit $100 at the end of each quarter in an account that pays 6% interest compounded quarterly. Find the balance in the account after 20 years, in correct units and rounded appropriately. How much of this balance is principal and how much is interest? Please spell these words correctly!

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You deposit $740 at the end of each quarter into an account that pays a nominal...
You deposit $740 at the end of each quarter into an account that pays a nominal annual rate of 16% compounded quarterly. How much will you have in the account at the end of 15 years?
12. (a) A ball is dropped from a height of 10 meters. Each time it falls...
12. (a) A ball is dropped from a height of 10 meters. Each time it falls h meters, it rebounds 0.8h meters, i.e. it bounces to 80% of its previous height. In correct units, find the total distance traveled by the ball. (5p) 12. (b) You deposit $100 at the end of each quarter in an account that pays 6% interest compounded quarterly. Find the balance in the account after 20 years, in correct units and rounded appropriately. How much...
Question No : 3 If you deposit 10 $ in an account, that pays 5% interest,...
Question No : 3 If you deposit 10 $ in an account, that pays 5% interest, compounded annually, how much you will have at the end of 10 years? 50 years and 100 years How much will be in account at the end of 5 years the amount deposited today is 10,000 and interest is 8% per year, compounded semiannually? How much would I have to deposit in an account today that pays 12% interest, compounded quarterly, so that I...
You deposit $1000 at the end of each month in an account that pays a 3%...
You deposit $1000 at the end of each month in an account that pays a 3% interest rate compounded monthly. 1. How much will be in the account after 10 years? 2. What was your total contributions? 3. How much interest did you earn? Please print clearly. thanks!
At the end of every 3 months, Mayan deposits $100 into an account that pays 4%...
At the end of every 3 months, Mayan deposits $100 into an account that pays 4% compounded quarterly. After 2 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded monthly for 1 year. When this certificate matures, how much will Mayan have accumulated? How much interest was earned overall?
Stephanie deposits $1819 at the end of each quarter, increasing the deposit by $149 per quarter....
Stephanie deposits $1819 at the end of each quarter, increasing the deposit by $149 per quarter. How much will Stephanie have at the end of 3 years if the bank pays a nominal annual rate of 6% compounded quarterly?
If you deposit $2000 in a savings account that pays an interest equal to 6% Compounded...
If you deposit $2000 in a savings account that pays an interest equal to 6% Compounded continuously. Whats the balance at the end of 3 years?
If you deposit $1000 per month into an investment account that pays interest at a rate...
If you deposit $1000 per month into an investment account that pays interest at a rate of 6% per year, compounded quarterly, how much will be in the account at the end of 5 years? a) Solve the question under the assumption that there is no inter-period compounding. b) Solve the question under the assumption that there is inter-period compounding.
1) Lauren plans to deposit $200 per month into an account at the end of each...
1) Lauren plans to deposit $200 per month into an account at the end of each month for the next 15 years. If her back pays interest at the rate of 2.5% per year compounded monthly, how much will Lauren have in her account at the end of 15 years? 2) Jim makes monthly payments of $800 into a retirement account for ten years. If the account pays 8% compounded monthly, how much will be in the account at the...
Joe Blow deposits $2,400 at the end of each quarter for 35 years into an account...
Joe Blow deposits $2,400 at the end of each quarter for 35 years into an account paying 11% compounded quarterly. How much is in Joe's account at the end of the 35 years? (Round your answer to the nearest cent.) $ (b) How much interest does Joe earns on his deposits? $
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT