Calculate the amount of interest earned in 9 years on $12,000 deposited in an account paying 10% annual interest, compounded quarterly. (Round your answer to the nearest cent.)
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- If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years. What is the gross amount actually placed in the account?Determine the interest earned on $5000 deposited in a savings account, for 10 years, based on one of the following quoted interest rates: 6% compounding annually, semiannually, quarterly, monthly, and daily. The solution to this problem is presented in Table 20.5 .
- If you deposit $368.00 into an account paying 15.46% annual interest compounded quarterly, how many years until there is $76,431.00 in the account?Calculate the compound amount when $7000 is deposited in an account earning 9% interest, compounded quarterly, for 6 years. (Round your answer to two decimal places.)$39,000 is deposited for 2 years in an account earning 6% interest. (Round your answers to two decimal places.) Calculate the future value if interest is compounded quarterly.
- How much interest (in dollars) is earned in 9 years on $8,500 deposited in an account paying 5% interest compounded semiannually? (Round your answer to the nearest cent.)Find the compound amount for the following deposit. $19,000 at 6% compounded quarterly for 9 years. The compound amount after 9 years will be $ (Round to the nearest cent.)Determine the interest earned after 10 years if $200 is invested in each of the following accounts: a. An account earning 5.4% interest compounded monthly
- Find the amount of an annuity that consists of 20 quarterly payments of $700 each into an account that pays 8% interest per year, compounded quarterly. (Round your answer to the nearest cent.)Determine the value of an ordinary annuity if $290 is deposited each month into an account earning 4.5% interest compounded monthly for 15 years.Use the appropriate formula to find the future value (in $) of $900 deposited at the beginning of every six months, for 17 years if a bank pays 8% interest, compounded semiannually. (Round your answers to the nearest cent.)