A time deposit account in the bank yield 5.5%compound interest annually. Jennifer invested P450, 000 for 4 years in this savings account. How much interest will she gain?
Q: When you were born, your family started to deposit 1,000 USD each month in the bank. The bank offers…
A: Amount deposited each month in the bank = 1,000 USD Annual deposited amount (PV) = 1,000 USD × 12…
Q: Ayesha wants to deposit 300 per year in a bank for the next 10 years. The bank pays annual interest…
A: Future value refers to the worth of the amount which is invested today at some future specified date…
Q: how much money was invested in the CD account?
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Q: Suppose Emma had deposited another $500 into a savings account at a second bank at the same time.…
A: Formula: Future value = Present value of bank balance x ( 1 + Interest rate ) compounding periods.
Q: If Martha puts P1,000 in the bank today at 6%, how much will she have in three years?
A: Future value = Present value(1 + Rate)^Time where, Present value = P1,000 Rate = 6% Time = 3 years
Q: Daryl Yap invested the amount of Php100,000 in a bank that offers 15 % per annum simple interest.…
A:
Q: Assume you deposit $5,900 at the end of each year into an account paying 11.75 percent interest.…
A: Annual deposit (P) = $ 5900 Annual interest rate (r) = 11.75%
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A: There are two types of interest offered by banks on deposits. One is simple and the other one is…
Q: Jenny puts $200 into a savings account today, the account pays an annual interest rate of 5%, but…
A: Compound interest: Compound interest (also known as compounding interest) is the interest on a loan…
Q: Jolene invests her savings in two bank accounts, one paying 3 percent and the other paying 11…
A: Interest refers to the amount charged by the lender on the lent amount. The borrower of the loan is…
Q: Peter has RM10,000 that he can deposit in any three savings accounts for a 3-year period. Bank A…
A: answer deposit amount =RM10,000 Rate of interest = 4% period = 3 year bank A = compounding annual…
Q: Belle invests RM7000 in a savings account at 3.2% rate of interest, compounded annually. No further…
A: Initial investment (P) = RM 7000 Interest rate (r) = 3.2%
Q: Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to…
A: Present value of annuity is the current value of the future payments that are calculated using the…
Q: If you deposit $2,000 in a bank account that pays 6% interest annually, how much will be in your…
A: Solution- Given-The present value of deposit is=$2,000The rate of interest is=6%Time is…
Q: my Jolly deposited $2 000 in a savings account. The annual rate is 10 per cent compounded…
A: The future value of money includes the money deposited and interest accumulated over the period of…
Q: Mary deposits her P500, 000 in a saving bank that gives nominal interest if 9.4% compounded…
A: The value of the deposit after a period will be the future value of that deposit.
Q: Betty wants to invest a monthly sum of money in order to accumulate R100000 in seven years. How much…
A: The PMT function or concept can be used to determine the periodic payments required to accumulate a…
Q: To pay for her college education, Gina is saving $2,000 at the beginning of each year for the next…
A: Annual deposit (P) = $2000 Interest rate (r) = 12% Period (n) = 8 Years
Q: Julie deposited some money in a savings account this morning. Her money will earn 5 percent…
A: Computation:
Q: Jasmine invested a certain amount in a bank compounded semi-anually. The bank told her that the…
A: First we need to calculate the interest rate. Given, Amount will be doubled in 5 years and it is…
Q: Edna deposits $2,000 in her bank account which is earning 2% in interest per year. How much will…
A: Final Amount = Principal Amount ( 1 + Rate of Interest )time period
Q: sandra and cindy both invest $14,000 into savings accounts that earn simple interest if sandras…
A: Simple interest formula = A = P (1+rt) Where, A = Final amount i.e. Principal + Interest P =…
Q: Joe borrowed $100,000 from a local bank, which charges him an interest rate of 7% per year. If Joe…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: You deposit $5,000 in a savings account that earns 6% simple interest per year.How many years will…
A: We can use excel spreadsheet to solve this problem.
Q: A mother wants to invests 9,000.00 for her sons future education she invests a portion of the money…
A: Solution:- Interest is the return amount on money invested.
Q: CFJ deposited P175,000 every 6 months for 5 years with an interest of 12% compounded semi-annually.…
A: The future value can be calculated using the FV Function in excel. FV = (RATE, NPER, PMT, PV, TYPE)…
Q: Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much…
A: Amount she will have is future value of deposit
Q: Jane deposits 10,000 USD and opens a deposit account at a bank. It will also deposit 6,000 USD one…
A: in this we have to use future value formula to calculate interest rate.
Q: Mark deposits $40,000 now into an account which will earn interest at a rate of 8% per year, how…
A: Present value of annuity concept is used to calculate the annual withdrawal amount.
Q: Tina deposited $20 in a savings account earning 5% interest, compounded annually. To the nearest…
A: Interest is the amount charged or received for loan taken or investment made. There can be simple…
Q: Ed wants to have $10, 000 in 5 years. He opens a savings account in a bank which pays 7.2% interest…
A: Amount Required after 5 years = $10,000 Interest rate = 7.2% Interest Rate Monthly (r) = 7.2%/12 =…
Q: Hannah wants to have $ 6500 to help pay for a new deck in 16 years. If she wants to put her money…
A: Future value required (FV) = $6500 Period of investment (n) = 16 Years Value of e = 2.7182818285…
Q: Mary deposits her P500,000 in a saving bank that gives nominal interest if P9.4% compounded…
A: Time value of money (TVM) is a concept which states that the money today has more worth than the…
Q: Calculate how much will Sonja have in a savings account 12 years from now if she deposits RM 3,000…
A: The future value at the end of 12 years is the sum of future values of deposits made at year 0 and…
Q: How much monthly deposit must be made for 8 years in order to accumulate ₱125,000 at 7% compounded…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: if her dad deposits R3570,00 at the end of every six months for the next four years into a bank…
A: The Future Value of the annuity is the total value of all the payments which is occurred regularly…
Q: To save the down payment, Mary deposited monthly in a savings account earning 2.5% compounded…
A: Monthly payment to achieve goal of down payment can be calculated by using this formula PMT…
Q: Mr. Ramos savings allow her to withdraw 50,000 semi -annually for 11 years starting at the end of 4…
A: Outflow in form of annuity depends the rate of interest, period and amount of savings available.
Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…
A: Future value is the value of the current assets or some amount that is invested today and amount…
Q: Wendy has $23,000.00 invested in a bank that pays 11.75% annually. How long will it take for her…
A: Principal (P) = $23,000 Amount (A) = $69,000 ( Triple) Annual interest rate = 11.75% The equation…
Q: Your aunt is planning to invest in a bank CD that will pay 7.5% interest semi annually. If she has…
A: SEMI ANNUAL INTEREST RATE (7.50%/2) 3.75% PERIOD (4*2) 8 PRESENT VALUE $5,000 PMT 0
Q: Rebecca Carlson purchases a car for $25,000 and finances her purchase by borrowing the money at 8%…
A: Equated Monthly Installments is one part of the equally divided monthly outgoes to clear off an…
Q: a) Liliana makes the following deposits into her savings account. $7,400 in 2 years, $4,800 in 3…
A: " Hi, Thanks for the Question. Since you posted multiple question, we will answer the first question…
Q: Hannah wants to have $ 7500 to help pay for a new deck in 13 years. If she wants to put her money…
A: The amount required to invest today can be calculated with the help of future value function
Q: Jane wants to borrow $100,000 from the bank for up to 3 years at an APR of 8.5% with interest…
A: Interest is an extra amount which borrower has to pay on the deposited amount for the period. It is…
Q: Ayesha wants to deposit 300 per year in a bank for the next 10 years. The bank pays annual interest…
A: Future value refers to the worth of the amount which is invested today at some future specified date…
Q: Jamilah and Alexis have $500 to invest. The bank offers an interest rate of 6% compounded annually.…
A: FV = PV * (1 + r)^nWhere FV = Future ValuePV = Present Value r = rate of interest n = number of…
Q: Jennie invested a certain amount in a bank compounded semi-anually.The bank told her that the…
A: Solution:- When an amount is deposited somewhere, it earns interest on it. The amount invested is…
Q: A woman deposits $12,000 at the end of each year for 15 years in an investment account with a…
A: The question is based on the concept for calculation of the future value by use of compounding…
A time deposit account in the bank yield 5.5%
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in years) will it take for her investment to amount to $6,000?You decide to deposit $5000 in a bank account paying 3.5% interest. What is the value of your savings in one year?
- Sarah opens an investment account with an initial deposit of $1900. She then sets up monthly deposits of $80 to the account. If the account earns 2% interest compounded monthly, how much money will she have in the account in 5 years?Imelda opens a savings account with $12,000, which pays an annual interest rate of 7.8%. If she reinvests the generated interest every month and also deposits $2,300 each month, how much will be in the account after 2 years? The interest is reinvested on the same day as the $2,300 deposit. Otions: 69177.89 71052.15 73548.61 70524.79Stella deposits $54,000 in a savings account at a bank that offers interest of 5.3% on such accounts. What is the value of the money in her savings account in five years’ time?
- Mrs Sam has deposited $ 18,000 in a bank at the rate of 7% per annum. Find out how much she will receive after 12 years? Also comment on what effect will she get on her initial deposit if the rate is changing to 10% if she still willing to receive the same sum after 12 years.Jona has decided to deposit ISK 200, 000. deposit into a bank account, annually, for the next 5 years, which is then a total of ISK 1, 000, 000. The first payment is in exactly 1 second (ie immediately) and then there are 4 payments after that. Interest on the account is 8% per annum for the first 2 years and then 6% per annum after that. How much will Jóna have in the account after 5 years? Group of answer choices ISK 1, 267, 186 ISK 1,210, 023 ISK 1, 277, 538 None of these are correct ISK 1, 276, 558 ISK 1,410,023Mary deposits her P500, 000 in a saving bank that gives nominal interest if 9.4% compounded semi-annually. How much money will Mary has after 7 ½%?
- Suppose Emma had deposited another $500 into a savings account at a second bank at the same time. The second bank also pays a nominal (or stated) interest rate of 9% but with quarterly compounding. Keeping everything else constant, how much money will Emma have in her account at this bank in 11 years?Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to make annual deposits of P40,000 for 10 years with the first payment being today. Determine the present worth of Ms. Perez’s savings account.Karen wants to have $22,011 in her investment account in 6 years. If her bank offers an annual compound interest rate of 2% with monthly compounding, how much should she deposit today?
