A student wants to deposit RM 50 into his savings account every quarter for 6 years. The interest rate is 8% per annum compounded every three months. How much total interest will the student get?
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityCalculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?If you deposit OMR 16830 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years.
- If you deposit OMR 12500 in your account in a bank. Suppose the bank pays 8.25% compound interest monthly. Calculate future value of your money in 17 years.Assume that you keep RM5,555 in the savings account at Affin Bank with an interest of 15 percent per year for 5 years. How much will you obtain at the end of the 5 year period?A high school student would like to save P50,000 for his graduation. How much should he deposit in a savings account every month for 5.5 years if interest is at 0.25% compounded monthly?
- Assume that you deposit RM700 in a savings account that pays 5% per year over 6 years. Your savings benefits from _____ as you leave the interest earnings in your account, and your interest earnings increases every year. Select one: a. compounding b. accumulating c. discounting d. aggregatingSuppose your savings account pays 6% interest compounded monthly. If you deposit $18,000 forfour years, how much will you have?You decide to deposit $5000 in a bank account paying 3.5% interest. What is the value of your savings in one year?
- 4. You wish to accumulate RM100,000 at the end of 20 years. To do this, you need to deposit an equal amount into the bank at the end of each year. If you can earn 5% compounded annually, how much do you need to deposit each year?You deposit 200$ each month into an account earning 8% interest compounded monthly. Round to the nearest vent as needed. How much will you have in the account in 25 years? How much total money will you put into the account? How much total interest will you earn?Assume that 1 year from now you plan to deposit €1,000 in a savings account that pays a rate of 8 percent. a. If the bank compounds interest annually how much will you have in your account 4 years from now? b. Suppose you deposited the €1,000 in 4 payments of €250 each at the end of Years 1, 2, 3 and 4. How much would you have in your account at the end of Year 4, based on 8 percent annual compounding? c. Suppose you deposited four equal payments in your account at the end of Years 1, 2, 3 and 4. Assuming an 8 percent interest rate, how large would each of your payments have to be for you to obtain the same ending balance as you calculated in part a?