Interest Earned. On June​ 1, Mia deposited ​$5,500 in an MMDA that pays 3​% interest. On October​ 31, Mia invested $1,400 in a​ three-month CD that pays 2.99​%. At the end of the​ year, how much interest will Mia have​ earned, assuming she​ hasn't taken anything out of the money market deposit​ account? Assuming she​ hasn't taken anything out of the money market deposit​ account, the amount of interest Mia will have earned is $___________

Q: every month in a savings account that earns 3.20% compounded monthly. a. How much did Brian have in…

A: A series of regular fixed periodic payments made at each interval is annuity. The broad…

Q: Jo deposits $5000 into an account on July 15, 2014. The account earns 4% compounded monthly. Just to…

A: Deposit amount (PV)=$5,000 Duration (n)=44 months and 12 days Rate of interest (i)=0.0033

Q: Ava deposited $1,300 in a savings account at her bank. Her account will earn an annual simple…

A: Time has been valuable in all aspects but in terms of finance, time has a money value. The worth of…

Q: John borrows $700 from a bank. He promises to pay $749 in 1 year's time. How much interest is john…

A: Time value of money is one of important concept of finance. It means a dollar amount invested today…

Q: Maya borrowed 15, 000 pesos last June 10, 2020, from a lending institution which offered 12% simple…

A: The time period for which loan or borrowed amount is due or funds are held by borrower is calculated…

Q: Allison wants to deposit $4,750 into a savings account. She has two different options, an account…

A: An interest advantage is considered beneficial for the party receiving the interest payments, as it…

Q: Jacqueline purchased an interest-bearing promissory note for $13,000.00 at 3.00% p.a., due in 120…

A: Information Provided: Promissory note = $13,000 Interest rate = 3.00% Due Period = 120 days…

Q: Asa Khumalo purchased a vehicle to the value of R224987 today and expects to make repayments for the…

A: Monthly payment refers to the periodic payment extended by the borrower to the lender. This payment…

Q: Hans takes out a loan for his college tuition from a bank that charges simple interes annual rate of…

A: In simple interest there is interest on the loan amount only and there is no interest on interest…

Q: Your grandfather put some money into an account for you on the day you were born. You are now 18…

A: To calculate the future value of the account at your 25th birthday, we will use the formula for…

Q: Jessica borrows $1,000.00 from a credit card company at 18% annually for two years.  Determine…

A: Credit card companies charge interest on a monthly basis so an 18% annual rate will turn out to be…

Q: Belinda purchased a 120-day $200,000 bank bill (at a simple interest rate) on 14 March 2022. The…

A: The term "annualized yield on investment" describes the rate of return received on an investment…

Q: Stacy took out a loan for $15,000. Her note was for 300 days at 5% ordinary interest. On day 100 she…

A: The formula for calculating simple interest Simple Interest(I) = P*r*t Where, I = Interest Amount P…

Q: Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed…

A: Given: Principal “P” = $500 Simple rate = 9% Number of years “t” = 11

Q: (a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to…

A: Part-A Borrowed Amount is $5000 Time period is 2 years Interest rate is 7% Per annum To Find:…

Q: Claudia intends to accumulate $35,000, so 6 months earlier she opens an account with $7,500, earning…

A: Simple interest = Principal * interest * time Amount = Principal + simple interest Amount =…

Q: 2040 1832 2872 Sue maintains an average monthly balance on her credit card of about $1340. Her…

A: In the given question, the credit card company charges interest monthly at the rate of 1.5%. Since…

Q: What is Bianca's balance right after her last contribution?

A: Time value of money (TVM) refers to the method or technique which is used to measure the amount of…

Q: Interest Earned. On June 1, Mia deposited $2,700 in an MMDA that pays 4% interest. On October 31,…

A: Money market scheme refers to the mutual fund type which is used for the investment purpose in cash,…

Q: Recall that Kate previously obtained a $15,000 bank loan, signing a note payable, on November 30.…

A: Adjustment Journal Entry for Interest Payment An expense for the firm that occurs during a fiscal…

Q: 1. Phil Nelson anticipates he will need approximately $227,000 in 11 years to cover his daughter's…

A: As per Bartleby guidelines, If multiple questions are posted, only the first 1 question will be…

Q: John deposits $2,000 in the first year, $800 in the second year and $600 in the third year to WMW…

A: future value formula: future value = present value×1+rateyear

Q: Avril deposited $800 in his bank at 1.5% for five years. Use the simple interest formula to…

A: INTRODUCTION Simple interest is calculated by multiplying the interest by the Principal amount.…

Q: Everlyne has a personal LOC with her bank with a maximum credit limit of $9,000.00. The interest…

A: Repayment schedule refers to the repayment of the loan and interest charged. Easy monthly…

Q: Autumn is making quarterly contributions of of $450 to her savings account which pays interest at…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: Jim invests $15,000 today into an account, If the amount in the account accumulates to $17,364.37 at…

A: The rate of interest can be computed with the help of future value function.

Q: (a) Heather borrowed $5000 from her grandmother as a down payment on her first car. She promised to…

A: calculation of above requirement are as follows

Q: Derek currently has $13,602.00 in an account that pays 5.00%. He will withdraw $5,708.0O every other…

A: The characteristics of withdrawal vary depending on the drug being stopped. Anxiety, fatigue,…

Q: Abigail's calculations show that the total interest owed to Sanjeev on her 3, 700 loan is 177.60. If…

A: Step 1: Step 2: Step 3: Step 4:

Q: Ann's grandmother put some money in an account for her on the day she was born. She is now 18 years…

A: Given information: Present value amount is Ksh 400,000 Interest rate is 8% per annum, Present age is…

Q: On August 19, Siobhan O’Sullivan started an ordinary annuity. She arranged to have $150 deducted…

A: Annuity refers to the fixed periodic payments which are paid monthly, quarterly, semi-annually or…

Q: Jasmine is making quarterly contributions of of $440 to her savings account which pays interest at…

A:

Q: Ashley took out a student loan for $12,544. The loan had annual interest of 6.9%. She graduated five…

A: A subsidized loan is a loan where the government provides the interest on the loan for the entire…

Q: Ana loaned a certain amount from XYZ Bank. She agrees to pay P5000 at the beginning of each quarter…

A: Quarterly payment (P) = P 5000 Period = 6 Years Number of quarterly payments (N) = 6*4 = 24 Annual…

Q: George borrowed $1,500 from Sally on April 13, 2018. George repaid the loan on September 20, 2018,…

A: Given Information: Principal amount = $1,500 Interest = $60

Q: Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the…

A: Annuity = a = $1300 Time = t = 26 years Interest rate = r = 8%

Q: Jamie earned $14 in interest on her savings account last year. She has decided to leave the $14 in…

A: This is because Jamie's $14 in interest from last year will be added to the principal balance of her…