Petter deposits R100 monthly into a bank account earning interest at an interest rate of 18% per annum, compounded monthly. The time (in month. that it will take the account to accumulate to R20 000 is given by
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- Assume that 1500 Php is deposited in an account in which interest is compounded annually at a rate of 6% for 5 years. How many times is compunding done in a year. What is the initial or rincipal amount. then what is the rate of interest?You deposited P5,000 from the savings of your daily allowance in a time deposit account with your savings bank at a rate of 1.5% per annum. This will mature in 6 months. Compute the annual interest, total interest, and amount to be received or paid at the end of the term for this scenario above using a simple interest assumption and compound interest assumption.If you deposit 2500 into an account paying 11% annual interest compounded quarterly, how long until there is 4500 in the account?
- You make periodic deposits of $100 at the end of every six months to an account that pays 4.5% interest compounded semiannually. a. Find the value of your account after 25 years. (Round to the nearest dollar).b. Find the interest.You deposit 2,000 in an account that pays 7% interest compounded semiannually.after two years the interest rate is increased to 7.08% compounded quarterly. What will be the value of the account after a total of four yearsRM100 is deposited every month in an account that pays 12% compounded monthly for two years. After the two years, no more deposits are made. Find the amount of the account at the end of the five years and the interest earned.
- you deposit $9000 into a bank account that pays 3.15% annual interest, compound quarterly. How much interest does the account earn after 5 years?Your bank account pays a nominal interest rate of 8%, compounded quarterly. You deposit $500 in the account today, and deposit $1,000 in the account at the end of the first year. How much will you have in the account at the end of the first year?Suppose that you deposit $15 at the end of each month into a savings account that pays 2% interest compounded monthly. After a year, ------ is in the account.
- Suppose you make quarterly deposits of $1,500.00 into an account that pays an interest at a rate of 6% compounded monthly. Find the balance of the account at the end of year 2.You deposit $10,000 in an account that pays 4.5% interest compounded quarterly. Find the future value after one year.Suppose that $3000 is deposited in a saving account at the rate of 8% per year. Determine in details the total amount on deposit at the end of 2 years if the interest is:simplecompounded annuallycompounded semi-annuallycompounded quarterlycompounded monthlycompounded dailycompounded continuously