Noah has $4686 in his savings account today. The interest rate is 8,3% p.a. compounded monthly. Noah can make 45 equal monthly deposit of $468 starting in one month. Calculate the balance of Noah's savings account 8 months after he makes the last deposit.
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- 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 70524.79Bill started saving for his retirement when he was 37. Each month he deposited $100.00 into an annuity that earns 3.2% compounded monthly. Assume the interest rate stays the same while the account is open. You may round your answers to the nearest cent. How much will be in the account when Bill turns 70? Future Value $ Of this future account balance, how much comes from Bill's deposits? Total Deposited $ How much interest, in total, will he earn? InterestJames deposited $500 in his bank at 4.5% for 90 days. Use the simple interest formula to calculate the amount of interest James will earn using exact interest. Calculate the future value of the deposit.
- Pete opens a simple intrest savings account that earns 5% annual interst with an intial deposit of $3,500. What will the balance be in his savings account at the end of 18 months?Ed wants to have $10, 000 in 5 years. He opens a savings account in a bank which pays 7.2% interest compounded monthly. He can either deposit a single lump sum or schedule monthly deposits. Find the amount Ed has to deposit as a single lump sum and the total interest earned. Find the amount of each monthly deposit Ed has to make and the total interest earned.If Jackson deposits 100 dollars at the beginning of each month in a savings account earning interest at the rate of 8%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 yr, assuming that he makes no withdraws during that period?
- Your grandmother has been putting $600 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 11%. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday? The amount in the account upon your 18th birthday is $. (Round to the nearest cent.)vince has just opened an 18-month certificate of deposit on which interest compounds daily. he deposited $4,635 and the effective rate of interest is 4.73%. how much total interest will he earn?.Peter makes a deposit at the end of every three months into a savings account that earns interest at 5.8% compounded semi-annually. He saves for 7 years, and then converts his savings into an annuity that pays him $400 at the beginning of each month for 7.5 years at the same interest rate. What size of the deposit Peter makes while he is saving?
- Joey chose to invest his money in an account that pays 2.3% annual interest compounded monthly. Joey’s initial investment was $100. Each month after the first deposit, he deposits another $100. Joey wants to know how much money he has after the first month. How much interest would he earn the first month? Would Joey add the interest to the $100 initial deposit or subtract the interest from the $100 initial deposit? The balance with the first month’s interest would be . Since Joey makes a deposit of $100 at the start of the second month, what is the balance after that deposit is made? Identify the values Joey would use to calculate the interest for the second month: P = APR = t = The amount of interest earned in the second month would be . At the end of the second month, the balance would be . After the deposit for the third month, the balance would be .Peter makes a deposit at the end of every month into a savings account that earns interest at 3.0% compounded semi-annually. He saves for 9 years, and then converts his savings into an annuity that pays him $2,000 at 3.9% compounded monthly at the end of every three months for 18 years. What size of the deposit Peter makes while he is saving?Kai Chang made a $2,400 deposit in her savings account on her 21st birthday, and she has made another $2,400 deposit on every birthday since then. Her account earns 9 percent compounded annually. How much will she have in the account after she makes the deposit on her 32nd birthday? Use Appendix C for an approximate answer, but calculate your final answer using the formula and financial calculator methods. Note: Do not round intermediate calculations. Round your final