Louis visits his local bank to see how long it will take for $1,000 to amount to $1,900 at a simple interest rate of 12 1/2%. How long will it take in years? B. How long will it take in months? Loius Carroll .......years ....... Months
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Louis visits his local bank to see how long it will take for $1,000 to amount to $1,900 at a simple interest rate of 12 1/2%. How long will it take in years? B. How long will it take in months?
Loius Carroll .......years
....... Months
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- You plan to deposit $700 in a bank account now and $200 at the end of one year. If the account earns 3% 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.) w an example .... Get more help. Save Clear all InUse 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 put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- William Darcy visits his local bank to see how long it will take for $1,200 to amount to $2,100 at a simple interest rate of 7%. The time is (round time in years to nearest tenth):Using Time line Method and Equation, calculate FV or PV for the following questions and put all in the format uploaded in the Moodle: 1) Mr. Ali deposited 1000 OMR today into a security that pays him ..%5 interest compounded. He wanted to know how much money he will have at the end of 2 years Calculate the amount.If you deposit money today in an account that pays 10.7 percent annual interest, how long will it take to double your money? a. 6.82 years b. 9.35 years c. 10.70 years d. 2.73 years e. The answer cannot be calculated without knowing how much money is initially deposited.
- 1. Find FV: You have $2,000 in a savings account that earns 1.5% interest per year. What will be the balance in your account: in one year? in five years? in ten years? 2. Find r: You have $2,000 in a money market account. If you make no deposits to or withdrawals from this account, in 10 years you will have: $10,000 in this account if the account's interest rate is $20,000 in this account if the account's interest rate isBilly roe visited his local bank to see how long it will take for $1,000 to amount to $1,900 at a simple interest rate of 12 1/2 percent. Provide Bill with the solution to this problem in years. PROVIDE THE FOLLOWING FOR EACH PROBLEM N= I= PV= PMT= FV= C/Y= P/Y =Question 1. Suppose that you invest P dollars at the beginning of every week. However, your crazy banker decides to compound interest at a rate r at the end of Week 5, Week 9, Week 12, Week 14, and Week 15. What is the value of the account at the end of Week 15? At the end of the Week 15, you need to spend $15, 000 on a bandersnatch. How much money must you invest weekly to ensure you have exactly $15, 000 after Week 15 if the weekly interest rate is 10%?
- Suppose you currently have $4,800 in your savings account, and your bank pays interest at a rate of 0.47% per month. If you make no further deposits or withdrawals, how much will you have in the account in 6 years? In 6 years' time, you will have $________ in the account.Howard is saving for a long holiday. He deposits a fixed amount every month in a bank account with an EAR of 8.9%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $15,000 in the account in two years' time? A. $920 B. $460 C. $575 Your answer is correct. D. $805Suppose you invest $130 a month for 5 years into an account earning 8% compounded monthly. After 5 years, you leave the money, without making additional deposits, in the account for another 29 years. How much will younhave in the end? Suppose instead you didn't invest anything for the first 5 years, then deposited $130 a month for 29 years into an account earning 8% compounded monthly. How much will you have in the end? Question Help: D Video Submit Question