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
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...
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?
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!
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?
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?
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. John wishes to make a quarterly deposit into his savings account so that at the...
1. John wishes to make a quarterly deposit into his savings account so that at the end of 10 years the account balance will be $10,000. If the account earns 6% annual interest, compounded quarterly, how much should he deposit each quarter? 2. The maintenance on a machine is expected to be $155 at the end of the first year, then increasing by $35 each year for the next 7 years. What sum of money would need to be set...
A 42​-year-old man puts ​$1500 in a retirement account at the end of each quarter until...
A 42​-year-old man puts ​$1500 in a retirement account at the end of each quarter until he reaches the age of 61​, then makes no further deposits. If the account pays 4​% interest compounded​ quarterly, how much will be in the account when the man retires at age 66​? There will be how much $ in the account. Round to the nearest cent
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT