You deposit $650 in a savings account. How long does it take an account with an annual interest rate of 5% to earn $178.25 in interest? Round your answer to the nearest tenth.
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You deposit $650 in a savings account. How long does it take an account with an annual interest rate of 5% to earn $178.25 in interest? Round your answer to the nearest tenth.
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?You decide to deposit $5000 in a bank account paying 3.5% interest. What is the value of your savings in one year?Suppose you invest $100 in a bank account, and five years later it has grown to $134.39. What APR did you receive if the interest was compounded semiannually? What APR did you receive if the interest was compounded monthly
- Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? S b) How much interest will you earn? SIf your bank pays you 1.5% interest and you deposit $700 today, what will be your balance in seven years? The bank balance will be $ ______.(Round to the nearest cent.)Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns 14.00%. How much will the account be worth 14.00 years from today?
- You deposit $296 today into a bank account that earns 12% annually. How much will be in your account after 25 years? note: show your answer to the nearest dollar (round to nearest dollar).If you deposit $5,000 in a bank account that pays 6% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent.You plan to deposit $700 in a bank account now and $900 at the end of one year. If the account earns 2% interest per year, what will the balance be in the account right after you make the second deposit? There will be $ in the account right after the second deposit. (Type an integer or a decimal.)
- You deposit $100 each month into an account earning 5.8% interest. Round all answers to the nearest cent as needed. a) How much will you have in the account in 35 years? $b) How much of this money did you deposit? $ c) How much of this money is interest earned? $If your bank pays you 1.6% interest and you deposit $550 today, what will be your balance in five years? The bank balance will be $. (Round to the nearest cent.)A local bank will pay you $135 a year for your lifetime if you deposit $3,000 in the bank today. If you plan to live forever, what interest rate is the bank paying? Note: Enter your answer as a percent rounded to 2 decimal places. Interest rate %