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- With an interest rate of 8% compounded semiannually, the value of a $1,000 investment after 10 years is most nearly equal to? (round to the nearest ten dollars)Susain are considering investing $280 amount at an interest rate of 5% compounded annually for 15 years or investing the $280 amount at 10% per year simple interest for 15 years. Which option is better? Why?Question 2 If an interest rate is 18% per year, compounded quarterly, what is the effective quarterly interest rate
- David is planning to contribute $8,000 a year into a mutual fund that earns an average of 8% per year. If he continues to contribute for the next 10 years, how much would he have in his account?what is the total compounding period for 6 years 9 months converted quarterly?If an investor invests a sum of $1000 in a bank for 1 year with aninterest rate of 10% compounded annually, the accumulated amount at the endof year?
- Regular payments of $2000 are made at the end of each compounding period. The account earns a rate of 5.1% per year, compounded 4 times per year. What is the future value of this account after 38 years? Answer: $Joseph Ray just received an inheritance of $50,000 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 6% per year with quarterly compounding for 30 years, how much will he have accumulated? $271,550 $269,113 $284,622 $298,466A certain amount is borrowed for 72 days at 17% per annum. Using exact interest, what is that certain amount(P) if the due at the end of 72 days is P 7, 238?
- if interest is compounded at 20% per year, how long will it take for $50,000 to accumulate to $86,400?An account has a nominal interest rate of 12% (annually) and an effective interest rate of approximately 12.75% (also annually). The compounding period is most likely which of the following: a) monthly b) yearly c) continuous d) dailyFind the annual effective rate of 16% compounded quarterly?