Question

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.) <

Answer #1

Recently, More money 4U offered an annuity that pays 4.8%
compounded monthly. If 1,873 is deposited into this annuity every
month, how much is in the account after 12 years? How much of this
is interest?
(round to the nearest dollar)

On October 1, 2009, you deposited $5,000 into an account that
pays 4.5% interest compounded quarterly. On what date will the
account be worth $6,200? Assume that simple interest is allowed for
a fraction of a period and give answer to the nearest day. Use a
360-day year.

15. Your grandmother just died and left you $40,000 in a trust
fund that pays 6.5% interest. You must spend the money on your
college education, and you must withdraw the money in 4 equal
installments, beginning immediately. How much could you withdraw
today and at the beginning of each of the next 3 years and end up
with zero in the account?

You just deposited $2,500 in a bank account that pays a 4.0%
nominal interest rate, compounded quarterly. If you also add
another $5,000 to the account one year (4 quarters) from now and
another $7,500 to the account two years (8 quarters) from now, how
much will be in the account three years (12 quarters) from now? a.
$17,679.55 b. $16,837.67 c. $18,563.53 d. $15,234.08 e.
$16,035.88

You just deposited $13,000 in a bank account that pays a 4.0%
nominal interest rate, compounded quarterly. If you also add
another $5,000 to the account one year (4 quarters) from now and
another $7,500 to the account two years (8 quarters) from now, how
much will be in the account three years (12 quarters) from now?
Select the correct answer.
a. 27,900.74
b. 27,884.14
c. 27,867.54
d. 27,917.34
e. 27,850.94

Anna deposited $17,000 in an account that pays 5%, compounded
quarterly. She plans to make four consecutive semi-annual
withdrawals, the first of which is to occur three years after the
deposit. The amount of her uniform, semi-annual withdrawal is
closest to...
(please show all work and do not put in an excel. Thank
you)

$ 8,000 is deposited in an account that pays 12% interest
compounded monthly for 12 months, how much money will be in the
account at 12 months?
select one:
a) A = 8000 (1+ 0.12 / 12) ^ (12)
b) A = 8000 (1+ 0.12 / 12) ^ (114)
c) A = 800 (1 + 0.12 / 1) ^ (12)
d) A = 8000 (1 + 0.12 / 12)

How
much needs to be deposited into an account that pays 4.05% APR
compounded in order for the account value to be worth $100,000
after 10 years
a)
Yearly?
b)
monlthly?
c)
weekly?
d)
daily?

Mike deposits $125,000 today into an investment account which
pays 6% compounded quarterly. How much will Mike have in
his account after 20 years?

$10,000 is deposited into a savings account that earns 3% per
annum compounded quarterly.
(a) How much interest will be credited in the second month?
(b) How much interest will be credited in the second year?

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 14 minutes ago

asked 18 minutes ago

asked 32 minutes ago

asked 43 minutes ago

asked 48 minutes ago

asked 48 minutes ago

asked 51 minutes ago

asked 51 minutes ago

asked 51 minutes ago

asked 57 minutes ago

asked 1 hour ago

asked 1 hour ago