deposited $11,500 into a fund at the beginning of every quarter for 15 years. She then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 2.69% compounded monthly. a. What was the accumulated value of the fund at the end of year 15? b. What was the accumulated value of the fund at the end of year 19? c. What is the total amount of interest earned over the 19-year period?

deposited $11,500 into a fund at the beginning of every quarter for 15 years. She then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 2.69% compounded monthly. a. What was the accumulated value of the fund at the end of year 15? b. What was the accumulated value of the fund at the end of year 19? c. What is the total amount of interest earned over the 19-year period?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Miguel deposited $11,500 into a fund at the beginning of every quarter for 15 years. He then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 2.69% compounded monthly. a. What was the accumulated value of the fund at the end of year 15? b. What was the accumulated value of the fund at the end of year 19? c. What is the total amount of interest earned over the 19-year period? 2 company deposited $8,500 into an investment fund at the beginning of every quarter for 4 years. It then stopped making deposits into the fund and allowed the investment to grow for 3 more years. The fund was growing at 4.50% compounded monthly. a. What was the accumulated value of the fund at the end of 4 years ? b. What was the accumulated value of the fund at the end of 7 years ? c. What was the amount of interest earned over the 7-year period?
Sarah deposited $26,500 into a fund at the beginning of every quarter for 16 years. He then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 4.89% compounded monthly. a. What was the accumulated value of the fund at the end of year 16? b. What was the accumulated value of the fund at the end of year 20? c. What is the total amount of interest earned over the 20-year period? Please use algebra with detials
Vanessa deposited $16,000 into a fund at the beginning of every quarter for 11 years. She then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 3.85% compounded monthly. a. What was the accumulated value of the fund at the end of year 11? Round to the nearest cent b. What was the accumulated value of the fund at the end of year 16? Round to the nearest cent c. What is the total amount of interest earned over the 16-year period? Round to the nearest cent
4. Kelly deposited $10,500 into a fund at the beginning of every quarter for 13 years. He then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 3.50% compounded monthly. a. What was the accumulated value of the fund at the end of year 13? b. What was the accumulated value of the fund at the end of year 17? c. What is the total amount of interest earned over the 17-year period? keep all the decimals for all the procedures, DO NOT ROUND
Jordan deposited $23,500 into a fund at the beginning of every quarter for 20 years. He then stopped making deposits into the fund and allowed the investment to grow for 3 more years. The fund was growing at 4.31% compounded monthly. a. What was the accumulated value of the fund at the end of year 20? Round to the nearest cent b. What was the accumulated value of the fund at the end of year 23? Round to the nearest cent c. What is the total amount of interest earned over the 23-year period? Round to the nearest cent
Emily contributed equal deposits at the end of every month for 3 years into an investment fund. She then decided to stop making payments and left the money in the fund to grow for another 2 years. The fund was earning 3.81% compounded monthly for the entire period and the accumulated amount at the end of the term was $80,000. a. Calculate the amount in the fund at the end of 3 years. Round to the nearest cent b. Calculate the size of the periodic deposits into the fund.
On January 1, you deposited $6,000 in an investment account. The account will earn 10 percentannual compound interest, which will be added to the fund balance at the end of each year.Required (round to the nearest dollar):1. What will be the balance in the account at the end of 10 years?2. What is the interest for the 10 years?3. How much interest revenue did the fund earn in the first year? the second year?
carlos Contributed equal deposit at the end of every month for four years into an investment fund he then decided to stop making payments and left the money in the fund to grow for another three years the fan was earning 4.81% compounded monthly for the entire period and then accumulated amount at the end of the term was $80,000 a. calculate the amount in the fund at the end of the four years. b. calculate the size of the periodic deposit into the fund.
Kayla contributed equal deposits at the end of every month for 4 years into an investment fund. She then decided to stop making payments and left the money in the fund to grow for another 4 years. The fund was earning 3.92% compounded monthly for the entire period and the accumulated amount at the end of the term was $60,000. a. Calculate the amount in the fund at the end of 4 years. Round to the nearest cent B. Calculate the size of the periodic deposits into the fund. Round to the nearest cent
Laura invested $650 at the end of every month in an investment fund that was earning interest at a rate of 4.44% compounded monthly. She stopped making regular deposits at the end of 5 years when the interest rate changed to 6.66% compounded quarterly. However, she let the money grow in this investment fund for the next 2 years. a. Calculate the accumulated balance in her investment fund at the end of 5 years. Round to the nearest cent b. Calculate the accumulated balance in her investment fund at the end of 7 years. Round to the nearest cent c. Calculate the total interest earned over the 7-year period.
A company deposited $12,000 into an investment fund at the beginning of every quarter for 5 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 4.50% compounded monthly. a. What was the accumulated value of the fund at the end of 5 years ?
Samantha invested $575 at the end of every month in an investment fund that was earning interest at a rate of 4.20% compounded monthly. She stopped making regular deposits at the end of 9 years when the interest rate changed to 6.66% compounded quarterly. However, she let the money grow in this investment fund for the next 4 years. a. Calculate the accumulated balance in her investment fund at the end of 9 years. b. Calculate the accumulated balance in her investment fund at the end of 13 years. c. Calculate the total interest earned over the 13-year period.