You deposit $11,000 in an account that pays 6% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. Click the icon to view some finance formulas. ..... A. The future value is $ 11675 . (Round to the nearest cent as needed.) B. The effective annual yield is %. (Round to the nearest tenth as needed.)

You deposit $11,000 in an account that pays 6% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. Click the icon to view some finance formulas. ..... A. The future value is $ 11675 . (Round to the nearest cent as needed.) B. The effective annual yield is %. (Round to the nearest tenth as needed.)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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