You open a brand-new savings account January 1, 2021. every paycheck you earn you deposit $25 into a savings account and you never make any withdrawals from this account. your savings account makes 0.01% interest and is compounded monthly. Assuming you get paid every two weeks how much money will you have at the end of the year?

You open a brand-new savings account January 1, 2021. every paycheck you earn you deposit $25 into a savings account and you never make any withdrawals from this account. your savings account makes 0.01% interest and is compounded monthly. Assuming you get paid every two weeks how much money will you have at the end of the year?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

See similar textbooks

Similar questions

Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of $137,090.97. What interest has accrued over 30 years?
Daisy invests $75 per month in an annuity that pays 4% interest. Determine the futurevalue of the annuity after 3 years. Round to the nearest penny.
You have $2,000 on a credit card that charges a 21% interest rate. If you want to pay off the credit card in 3 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?$ each month
A youth sports league receives a $30,000 donation for building a new snack bar and office building. The league decides to invest this money in a money market account that pays 3% interest compounded quarterly. How much will the league have in this account after 4 years?
At the beginning of every three months, a college student deposits #3,000 in a fund that gives 2% compounded quarterly. If he intends to use this money for his graduation, how much money does he have in 42 months? #Blank 1
Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a subway franchise. Pete plans to repay Lynn at the end of 10 years with 4% interest compounded semiannually. How much will Lynn receive at the end of 10 years ?
I have $30,000 to put into an account. Explain which account would be better for me to choose. Account A: pays 2% interest, compounded monthly, for 10 years. OR Account B: pays 3% interest, compounded quarterly, for 8 years.
jim borrows $500 at 17% per annum compounded quarterly for 2 years.Determine the interest due on the loan.Interest due =
You deposit $850 in an account paying an annual simple interest rate of 7.7%. Find the future value of the investment (in dollars) after 1 year.
You deposit $1000 each year into an account earning 6.1% interest. How much will you have in the account in 15 years?
Your local bank has a saving account that pays interest of 8% semiannually. You place 2600 in the account for 6 years. What will the money grow to become?
Angela deposits $5000 into an account with an APR of 4.4% for 10 years. Find the future value of the account of interest is compounded monthly. Round your answer to the nearest hundredth, if necessary. Answer Keypad Keyboard Shortcuts