Katherine received an academic achievement prize of $2,900 from his college. Hedeposited this money into a savings account on August 15, 2016. If the interestaccumulated on the investment when he withdraws the money on May 29, 2017 was$79.81, calculate the annual rate of simple interest that the savings account wasproviding him.0.00 %Round to two decimal places

Amount deposited (A) = $2900 Days between August 15, 2016 and May 29, 2017 (n) = 287 Interest earned…

Answered: Katherine received an academic…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Your sister placed her graduation gifts amounting to P25,000 in a special savings account that provides an interest of 2% for 8 months. Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario using a simple interest assumption and compound interest assumption.
Your sister placed her graduation gifts amounting to ₱25,000 in a special savings account that provides an interest of 2% for 8 months. Direction: Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario below using a simple interest assumption and compound interest assumption.
John Rider wants to accumulate $100,000 to be used for his daughter’s college education. He would like to have the amount available on December 31, 2021. Assume that the funds will accumulate in a certificate of deposit paying 8% interest compounded annually. Required: Answer each of the following independent questions. 1. If John were to deposit a single amount, how much would he have to invest on December 31, 2016? 2. If John were to make five equal deposits on each December 31, beginning on December 31, 2017, what is the required amount of each deposit? 3. If John were to make five equal deposits on each December 31, beginning on December 31, 2016, what is the required amount of each deposit?
In january 2014, bobby deposited $750 of his birthday money into a savings account earning 4.03% interest compounded bimonthly. if there are no other deposits or withdrawals from the account, find the total interest earned by the end of 2024.
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 $___________
To help pay for college, Sam borrowed money from an online lending company. He took out a personal, amortized loan for $53.500, at an interest rate of 5.9%, with monthly payments for a term of 15 years. For each part, do not round any intermediate computations and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Find Sam's monthly payment. $0 (b) If Sam pays the monthly payment each month for the full term, find his total amount to repay the loan. $0 (c) If Sam pays the monthly payment each month for the full term, find the total amount of interest he will pay. $0 X
Interest Earned. On June 1, Mia deposited $5,600 in an MMDA that pays 3% interest. On October 31, Mia invested $1,200 in a three-month CD that pays 4%. 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 (Round to the nearest cent.).
On May 1, 2020, Hazel borrowed a sum of money from Far East Bank , payable for 2 years at 8% simple interest. She paid P6,000 for the interest of her loan. Find how much was borrowed by Hazel.
Gabe opened an RRSP deposit account on December 1, 2008, with a deposit of $2000. He added $2000 on November 1, 2010, and $2000 on April 1, 2012. How much is in his account on August 1, 2016, if the deposit earns 8.3% p.a. compounded monthly?
Shawn has set up an "automatic account builder" plan with an investment company. At the end of each month, the company automatically deducts $125 from his checking account and deposits it into an account he has set up to save for his kids' college costs. If this continues for 17 years, and the account earns 6.36%, how much will his account grow to? O $3,529.31 O $45,750.23 O $3,641.05 O $42,343.38
Interest Earned. On June 1, Mia deposited $2,700 in an MMDA that pays 4% interest. On October 31, Mia invested $1,300 in a three-month CD that pays 2.81%. At the end of the year, how much i interest will Mia have eamed, 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 $. (Round to the nearest cent)
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 70524.79

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